Expectations For Real Estate Sector 2021
Dr Niranjan Hiranandani, National President, NAREDCO and Managing Director, Hiranandani Group stated that, “The snowball effect of fiscal impetus has resulted in a positive forecast of India’s GDP growth. Indian real estate remains a predominant driver for employment after agriculture and has a multiplier effect on 269 allied industries. The pent up demand due to the multiplier effect of policy reforms will fuel sustainable growth in 2021. The government spends on public infrastructure and has to scale up a manifold that will attract more investments and lead to further job creation-a need of an hour. Demand for owned houses has gained traction post pandemic life and adaptation of digitization, product redesigning and upskilling of human capital will be focal points for the business continuity plans. Indian real estate assets hold huge investment potential with an influx of highest FDI and FPI seen during FY 20-21, as the construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy. The commercial real estate growth trajectory will be resuming back once the GDP growth is on a positive scale. The supply chain disruption has opened floodgates for the logistics sector to fix the gaps and flourish in light of becoming a global manufacturing hub. Other sunrise sectors like Industrial Parks and Data Centres will see pent up demand in the year ahead.”
Tags : Real Estate Press Room Dr. Niranjan Hiranandani NAREDCO Hiranandani Group growth India GDP growth