How India’s real estate will scale new heights by 2030
At a time when India’s economy is in the midst of transformation, it is important for us to keep an eye on the sectors that will play a key role in taking it towards the $5 trillion mark and beyond. A country’s real estate is a major pillar of its economy, and its growth is interlinked with all the other economic sectors and vice versa.
India is currently making a massive infrastructure push to improve inter-state, inter-district, and inter-city connectivity. The Finance Ministry has implemented a 33% growth for infrastructure in this year’s Budget with a special focus on improving road and rail connectivity. Economic experts are well aware of the fact that a better infrastructure directly improves and maintains real estate prices.
In cities like Mumbai, Delhi or even Bangalore, where real estate prices are touching the skies, people simply cannot afford to invest in real estate not only because of affordability but also because of its low investment value. This has obviously happened because of the clustering of the population and lack of infrastructure, which eventually hampers travel and the overall standard of living.
However, with this massive infrastructure boost, India will see the creation of new smart cities like Ahmedabad, Pune, Varanasi, Indore, Dholera and GIFT, just to name a few. These cities will provide more real estate and employment options to the growing Indian population. The growing rail and road connectivity will further incentivize people to shift to new cities and invest in the newly available real estate options.
All the top-tier Indian cities are also expanding their radius to fit their ever-increasing population size and give them more residential and commercial options. For example, the construction of Navi Mumbai real estate and its airport has sped up to attract people in large numbers and reduce population density in Mumbai’s suburban region. The Trans-Hourbour Link Road, which is expected to be inaugurated this year, will reduce the travel time between Mumbai with Navi Mumbai to 20-30 minutes at most.
From an investor’s point of view, now is the right time to hunt for real estate opportunities as they will yield outstanding ROI (Return on Investment) in the coming years. As per a report by RBSA Advisors, India’s real estate will reach $1 trillion by 2030 and will contribute 13% to India’s GDP by 2025. It should be enough to tell you the kind of boom India’s real estate is about to witness.
