Globally, real estate is recognized as a sector which has the most economic linkages. In India, realty is the second largest employer after agriculture and is slated to grow at 30% over the next decade as the number of Indians living in urban areas is set to increase from 434 million in 2015 to 600 million by 2031, according to the India Brand Equity foundation.
The real estate sector comprises housing, retail, hospitality, and commercial sub sectors. Demand for office space and urban and semi-urban accommodation will drive the growth in this sector. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
Read more: News18