- Joint Report by CREDAI & JLL titled ‘Traversing through the epic, predicting the curve’ unveiled at CREDAI Conclave 2018 in New Delhi
- US$ 20 BN worth REIT- able office stock in India by turn of next decade
- Housing sector’s contribution to the GDP expected to almost double to 11.2% by 2020
14th March, New Delhi: CREDAI in association with their knowledge partner JLL, India’s largest real estate service firm, today jointly unveiled a report titled ‘TRAVERSING THROUGH THE EPIC, PREDICTING THE CURVE’ at CREDAI Conclave 2018 in New Delhi. The report, that traces 7 trends that will change the way real estate business will happen in the future in India, highlights that the Indian Real Estate Sector is projected to reach a market size of $180bn by 2020, a sharp rise from $126bn in 2015. The report also reveals that the housing sector’s contribution to the Indian GDP is expected to almost double to more than 11% by 2020 up from estimated 5%-6%. Regulatory reforms, steady demand generated through rapid urbanization, rising household income and the emergence of Affordable Housing and nuclear housing are some of the key drivers of growth for the sector.
According to the report, the ‘architects of changes’ in the form of various revolutionary policies and reforms have paved the way for a highly conducive environment for industry stakeholders which has weaved a new and improved environment for Indian realty, with certain policy based implications expected in the future.
THE 7 FUTURE ALTERING TRENDS THAT WILL TRANSFORM THE INDIAN REAL ESTATE SECTOR:
Real Estate Regulatory Act (RERA) – (Key Findings and Projections)
Sales figures projected to improve with RERA bound to rebuild the trust deficit between buyers and developers.
Goods and Services Tax (GST) – (Key Findings and Projections)
FDI Policy – (Key Findings and Projections)
The recent relaxation in the FDI Policy by the Government of India has also provided a huge boost to the industry in the past, with the report revealing the following findings:
Key FDI trends that are likely to dominate the future of Indian realty –
Real Estate Investment Trust (REITs):
Technology and Use of Prop – Tech
Alternative Asset Classes
Ramesh Nair, CEO and Country Head, JLL India said “The time for change in now, which is evident in the recent developments. Game changing developments like RERA and GST have created a strong base for the sector to grow, which coupled with India’s strong economic advancement have provided a perfect spring board. Our report ‘Traversing through the epic, predicting the curve’ is focused on providing a sneak peek at the future of the sector, identifying 7 trends as mentioned.”
CREDAI Chairman, Mr. Getamber Anand, shares his opinion “CREDAI National has consistently maintained its stance of looking ahead into the future and we continue this trend with the unveiling of the CREDAI – JLL report titled ‘Traversing through the epic, predicting the curve’. The report looks forward in regards to the revolutionary reforms and policy changes that have and will still continue to have a substantial bearing on proceedings. The report reveals some exciting findings pertaining to the growth of the real estate sector which is ought to encourage all industry stakeholders.”
CREDAI President, Mr. Jaxay Shah, Comments “As a leading industry body, CREDAI National fully comprehends the prevalent and upcoming industry trends which are bound to have significant implications for Indian realty. Having displayed extreme resilience throughout the course of the past 18 months, the Indian real estate sector is now quite evidently on an upward trajectory backed by the efforts of industry stakeholders and the Government of India. The CREDAI – JLL report ‘Predicting the Curve’ happens to be extremely enlightening and speaks in length of the new era of the Indian real estate sector.”
Established in 1999, The Confederation of Real Estate Developers’ Association of India, is the apex body for private real estate developers in India, representing 11,940 developers through 23 states and 178 city chapters across the country. CREDAI has worked hard to make the industry more organized and progressive by networking closely with government representatives, policy makers, investors. CREDAI works towards improvement of ethical standards & business practices in real estate. CREDAI is well-recognized by the Central and State Governments in all its endeavours.
About JLL India:
JLL is India’s premier and largest professional services firm specializing in real estate. With estimated revenue for FY 2017-18 expected to be ~INR 3,200 crores, the firm is growing from strength to strength in India for over the past 20 years. JLL has an extensive geographic footprint across 10 cities (Ahmedabad, Delhi, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Kochi and Coimbatore) and a staff strength of over 9,500. The firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services. This includes research, strategic advisory and consultancy, capital markets, transaction management, project and development services, integrated facilities management, property and asset management. These services cover various asset classes such as commercial, residential, industrial, retail, warehouse and logistics, hospitality, healthcare, senior living and education.
JLL was recognised as one of the Best Places to Work in India 2017 in the annual survey of ‘India’s Best Companies to Work For’ – a joint study conducted by Great Place to Work® and The Economic Times. The firm has also been acknowledged as ‘Property Consultant of the Decade’ at the 10th CNBC-Awaaz Real Estate Awards 2015 and the Best Property Consultancy in India at the International Property Awards Asia Pacific 2016-17. For further information, please visit www.jll.co.in
Karam Raj Singh:
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