FICCI-EY Indian Real Estate Report 2013 'Brave new world for Indian real estate: policies and trends that are altering Indian real estate'
Indian real estate is going through a phase of transition in the process of its development. From traditionally being an unorganized sector, Indian real estate is gradually moving towards a more organised one. There is a wave of new thinking and energy in Indian real estate that is driving the sector ahead in India. There is an appetite to innovate with emerging real estate formats to respond to changing lifestyle needs.
FICCI-EY Indian Real Estate Report 2013 titled ? ?Brave new world for Indian real estate: policies and trends that are altering Indian real estate? was released by Mr. Prithviraj Chavan, Hon?ble Chief Minister of Maharashtra at FICCI?s 10th International Real Estate Summit 2013 in Mumbai. This report sensitizes all stakeholders about changing scenario of Indian real estate and trends and progress at the policy front. According to the report, Indian real estate sector has attracted significant investment over the past few years due to rapid urbanization, positive demographics and rising income levels. The growing stability of the real estate market has attracted investments of over US$1.14 billion (INR7,705 crore) in commercial office space during the last three years. The contribution of the real estate sector to India?s gross domestic product (GDP) has been estimated at 6.3% in 2013 and the segment is expected to generate 7.6 million jobs during the same period. It is also expected to generate more than 17 million employment opportunities across the country by 2025.
The report suggests that investments required in the Indian real estate market by the year 2015 is approximately US$42 billion (excluding EWS housing) and approximately US$257 billion (including EWS housing). Residential real estate alone will require an investment of US$29 billion, says the FICCI- EY Indian Real Estate Report 2013.
The report highlights the trend in real estate funding in the pre-FDI period (before 2005), post FDI and before global meltdown period (2005-2008) and post global meltdown period (2008 onwards). It states that the Indian economy is ready to experiment with advanced funding options such as real estate investments trusts (REITs) and provide industry players with a global competitive edge. The report analyses new policy environment viz. REITs, Companies Act 2013, FDI, Real Estate Regulation and Development Bill 2013, changes in service tax and value added tax legislations and its impact on Indian real estate.
The report also outlines a growing trend of innovation in real estate products to cater to changing lifestyles in India. The new emerging real estate opportunities include senior living housing, rental housing, branded apartments, entertainment real estate; transit oriented real estate, education and healthcare.
The report is available for purchase at a cost of Rs. 2500 per copy. Please contact FICCI Real Estate Division at email@example.com or Tel Nos. 011-23765318, 23487394, 23487331