Even with ongoing instability and uncertainty in different parts of the world, two economies – India and China – will keep on growing at an annual rate of 8 - 10%. India is ready to become the third largest economy in the world following China and US till 2020.
What are the boosters of Indian Economy? In point of fact, it enjoys many benefits that include a growing per capita income and a parallel pace of Household consumption, which nevertheless leave in their wake an extensive rate of yearly savings. What is more, India’s infrastructure investments will have amplified extremely by 2020, significantly enhancing its charm for investment.
Away from any uncertainty, an incredible opening in the Real Estate Of India over the next 5 – 6 years. An additional section in India’s fast developing success story is the IT sector, which has been one of the big driver of the country’s economic development from the past few years. IT Sectors in India will have grown from the recent 67 billion dollar to 275 billion dollar in 2020. At the same time, the markets of electronics and hardware will also increase for the current 45 Billion Dollar to 400 Billion Dollar. If truth be told, domestic banks will have to increase their asset sizes five times over next 5 years with the purpose to handle this growing demand.
This development will reveal very noticeably on the commercial real estate, which is already on a cheering upswing. Need for office spaces in our country has already growing many times from 20 million sq. ft. to approx 70 million sq. ft. by 2014. These years are by any measure and the 2011 is, by any yardstick, the best year ever for India in terms of commercial space, and the developments that are now driving it will increase enormously by 202
At the same time, the retail market of India will yet again emerge as a main strength motivating Realty Sector. In 2020, this field which is currently appreciated at $500 billion will get higher to a worth of $900 billion. Controlled retail, which at present comprises only 5% of the total market, is growing by 15% per annum. By this speed it will move from its recent value of $25 billion to $250 billion by 2020.
This speed of development is heading for convert into very big requirements for Commercial Real Estate in the near future. If we factor in the strengthening ambitions of Indian consumers, the regular growth of new residential project, townships and small cities, the property demand from Indian retail by 2020 can well be expected.
Demand of residential projects, which is the established support of the Indian Real Estate, is heading for experience the summit in 2020. In spite of everything, the Ministry of Housing calculates approximately that we will be looking at a shortage of about 30 million residential units by 2015. This shortage will only rise with the rate of population growth, which is further protected by the growing lifetime brought on by excellent medical facilities in India. According to a survey “By 2025 cities’ population is expected to be approx 215 million in India.”
Hospitality sector is also in this race, in terms of commerce in almost every sector; India now benefits from a constant recognition as one of the best investment destination. Our raising GDP and better pace of international commerce associations are the main drivers in the hospitality field. Because of promotional exercises for example our campaign like Incredible India and World Yoga Day etc. also marks top on the worldwide vacation traveler’s priority list. The end result is that the tourism market in India is estimated to rise from the $144 billion to $431 billion in coming days.
