Realty to be $ 180-bn industry by 2020: CII

    Indian Realty Industry
    Betting big on the huge business prospects of the country's real estate sector, Managing Director and CEO, National Housing Board, Sriram Kalyanaraman, said that country's realty sector is heading to be a $180-billion industry by 2020. The contributory factors included the easier home loan disbursements by NHB and also the demand for warehousing space will go to upto 35% as and when the GST Bill is implemented. In addition to this, fast paced Smart City projects, land record digitization, withdrawal of corporate tax from REIT structure, the Real Estate sector growth is bound to attract funds and confidence of investors in a big way, he said this while addressing the 12th edition of Realty 2016 organized by Confederation of Indian Industry (CII) in New Delhi recently. 'Paving the way for sustainable real estate development in India' formed the theme of deliberations of the 12th annual conference on the real estate sector. Addressing the audience, Chairperson, CII, Rumjhum Chaterjee said, "Real Estate Regulatory and Development Act 2016 will create the much-needed institutional framework to bring back the confidence among investors. While Chairman, CBRE, Anshuman Magazine - India and South East Asia, insisted that India is one of the fastest growing and large economies of the globe. Chairman and Managing Director, ATS, Getambar Anand, reiterated that development of the real estate sector cannot happen without the active involvement of the private sector.
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