Real Estate sector is the second largest employer following agriculture in India. It is expected to grow at a phenomenal rate of 30 per cent over the next decade. This sector is constituted by four segments namely, housing, retail, hospitality, and commercial. This sector has the propensity to grow with the growth of the corporate environment and demand for office space as well as urban and semi-urban housing sites in bangalore.
This sector is poised to receive more NRI investments both in the short and long term. Bangalore is expected to be the most favored destination Gated communiy villa plots in Bangalore.
The Compund Annual Growth Rate [CAGR] of this sector is expected to be 11.2%. Accordingly retail, hospitality and commercial real estate are also growing significantly.
Private investment in real estate rose to 26 per cent to a nine-year high of nearly Ts 40,000/- In 2016.
The sectors that have had maximum demand for office space are IT and ITES, retail, consulting and e-commerce. In 2016, office space absorption across eight top cities amounted to 34 mn sq ft with Bangalore leading the pack. IT and BPO industries recorded the highest level of 52% of the leasing uptake in 2016. Mumbai leads the country in the city that is best for commercial real estate investment fetching returns of 12-19%, followed by Bangalore.