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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
PM Modi, Serbian prez discuss ways to deepen cooperation across multiple sectors
New Delhi (PTI): Prime Minister Narendra Modi on Wednesday met President of Serbia Aleksandar Vučić and discussed ways to deepen cooperation in areas such as defence, manufacturing, fertilisers and infrastructure.
The meeting took place on the sidelines of the India AI Impact Summit being held here from February 16-20.
"Met President Aleksandar Vučić on the sidelines of the India AI Impact Summit. We discussed ways to deepen cooperation in areas such as defence, manufacturing, DPI, fertilisers and infrastructure. For many years, India and Serbia have worked closely and I am confident our ties will gain even more momentum in the times to come," Modi wrote on X.
Vučić said the two leaders were proud of the friendship between Serbia and India, and the people of the two nations.
"India is a reliable and important partner for us, and we want to deepen economic exchange and encourage new investment projects. I am especially happy because India wants significant participation in the Serbian #Expo," he said in a post on X in Serbian.
The India AI Impact Expo features more than 600 high-potential startups and 13 country pavilions showcasing international collaboration in the artificial intelligence (AI) ecosystem. Over 20 heads of state, 60 ministers and 500 global AI leaders are attending the summit.
