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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Man accused of rape-murder of 5-year-old lynched to death in Bengal; Girl’s body found in pond
Alipurduar: A 40-year-old man accused of raping and murdering a five-year-old girl was allegedly tied to a tree and beaten to death by agitated locals in Alipurduar district located in West Bengal on Friday evening. Later, another man surrendered before the police claiming he was also involved in the crime, and was subsequently arrested.
The girl went missing on Friday evening. When her family began searching for the girl, they learned that she had last been seen with Mona Roy, as reported by the Indian Express.
The police said that the girl’s body was found floating in a local pond. They added that the locals caught Roy and took him to his residence where they allegedly noticed blood on the bed. Enraged by this, they tied Roy to a tree and started assaulting him.
Roy was beaten to death before the local police could reach the spot.
When the police arrived at the scene, angry locals prevented them from moving the two bodies. Eventually, a large team of police personnel was sent to the location. After two hours, they were able to remove the bodies from the area.
The bodies have been sent for a post-mortem examination.
Meanwhile, a man named Bhakta Roy approached the police, claiming that he was involved in the crime and feared for his safety from the angry mob. He was subsequently arrested.
Y. Raghuvanshi, Superintendent of Police, Alipurduar, asserted it is a heinous crime, adding that they have started a detailed investigation in connection to the incident.
