KPMG REPORT- URBAN INDIAN REAL ESTATE 2016
27th August 2016, KPMG, a global business consultant recently done an analysis on Indian Real Estate Industry. According to the report, The real estate and construction sector is expected to generate 75 million (7.5 crore) jobs by 2022 and emerge as the largest employer in the country. Real estate and construction sector in India is expected to be the third largest globally by 2030 contributing over 15% to the GDP and emerge as the largest employer in India providing employment opportunities to over 75 million people.
The real estate developer’s share their views on the report-
“This report is a very positive and encouraging for the real estate sector. The real estate sector will see a significant rise in opportunity. With the changes in the policy taking place such as GST, REITS and The Real Estate(Regulation & Development) Act, the real estate sector will be strengthened. This also puts a lot of responsibility on the developers for providing quality projects of global standards to its buyers.” -Mr. Prashant Tripathi, Spokesperson, Viridian Group
” The report is very positive and highly motivating for the real estate sector. To achieve the vision of Housing For All by 2022, the development needs to be at a rapid active pace along with providing the best quality construction to its buyers. The ongoing policy changes being done by the government such as REITS, GST and Real Estate Act will improve and strengthen the construction and real estate sector. Also, according to the report the opportunities will increase by several manifolds, leading to greater employment and growth of the real estate sector” – Mr. Ravish Kapoor, Director, Elan Group