India’s urban real estate activity to touch 8.2 billion sq ft by 2025

Despite the rising construction costs, the overall stock of developed real estate in India’s urban centres will touch 8.2 billion sq ft by 2025 and the contribution of real estate sector to India’s GDP will be around 13 percent, a report has said. The report also notes that the implementation of the GST has stabilised the cost of raw materials and streamlined inter-state and import tax, giving the industry a major boost. According to the report titled India Real Estate - Variance in Construction Costs, among Chennai, Bengaluru, Hyderabad, Pune, Mumbai and Delhi, Mumbai remains the most expensive.