Indian real estate market may touch $180 bn by 2020: Report
New Delhi: The real estate sector in India is likely to reach a market size of $180 billion by 2020, from $126 billion reported in 2015, a report said.
"The housing sector's contribution to the Indian GDP is expected to almost double to more than 11 per cent by 2020, up from estimated five to six per cent," said the CREDAI-JLL report released at the inaugural session of CREDAI Conclave 2018 here on Wednesday.
The Confederation of Real Estate Developers' Association in India (CREDAI) is the apex body of private real estate developers in the country, while, JLL is a professional services firm specialising in real estate.
According to the report, the Real Estate Regulatory Act is expected to consolidate the real estate sector in the country as it would force out unscrupulous developers.
The report further said: "Private equity and debt investments in real estate increased by 12 per cent on year-on-year (basis) across 79 transactions in 2017."
"Private equity inflows in office and information technology and information technology enabled services during 2014-2017 (year-to-date) are 150 per cent higher than the previius seven years' inflow combined," it added.
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Two people killed as poultry vehicle rams into parked truck in Belagavi
Belagavi (Karnataka) (PTI): Two people were killed, and another was severely injured after a goods vehicle transporting poultry birds allegedly rammed into a stationary truck on a national highway in Belagavi in the early hours of Tuesday, police said.
The deceased have been identified as Wasim (28) and Mubarak (22), both natives of Shivamogga district, they said.
The driver of the vehicle, Basavaraj Eerappa Hanchinamani (37), suffered critical injuries and has been admitted to a hospital, police said.
According to police, the accident occurred when the driver reportedly lost control of the vehicle, allegedly due to drowsiness, and crashed into a truck parked along the highway.
The goods vehicle was en route from Kolhapur to Sorab in Shivamogga district, carrying poultry. Several chickens were also killed in the impact, a senior police officer said.
Police personnel from the Hirebagewadi Police Station visited the spot and conducted an inspection.
Injured people and the bodies of the deceased were shifted to a hospital, police added.
