Real-estate Sector Expected To Make Up 18-20% Of The Country’s GDP By 2030: Amitabh Kant

The real estate plays a multiplier effect in the development of the economy and the ecosystem of the country. The sector is expected to reach a market size of $1 trillion and make up 18-20% of the country’s GDP by 2030, Amitabh Kant, CEO, Niti Aayog said on October 22. He also said that the Securities and Exchange Board of India (Sebi) has already given its approval for Real Estate Investment Trusts (REITs), which will create an opportunity worth Rs 1.25 lakh crore in the coming years. He was virtually addressing the 13th Edition of Confederation of Indian Industry (CII) Realty & Infrastructure Conclave 2021 organised in association with JLL as the Knowledge Partner. The theme of conclave is ‘What’s next: The future of real estate'. He said the last 18 months have been challenging for India and the economy in general, and the real estate sector was not left untouched. "However, we see a silver lining as the vaccination rate has picked up and the infections are slowly coming down," he said. Kant said that the real estate sector and its stakeholders also play a critical role in supporting the 'housing for all' initiative of the government.