India's real estate to require $257 bn investment by 2015: Report

India's real estate to require $257 bn investment by 2015
The country's real estate sector would require an investment of USD 257 billion by 2015, said a report by EY-FICCI. The investments projected by EY-FICCI for the sector includes USD 29 billion which would be required by the residential real estate alone.

According to a report, EY's tax partner Gaurav Karnik said Indians are ready to experiment with advanced funding options such as real estate investment trusts (REITs). He further added that real estate is expected to contribute 6.3 per cent of GDP in 2013 and generate 7.6 million jobs during the same period.

India real estate sector has witnessed significant growth in not just the housing sector, but also the retail, hospitality and commercial sub-sectors. The PTI report said that Delhi-Mumbai Industrial Corridor (DMIC) would set a new precedent for the development of the logistics and warehousing sector.

Dion Global Solutions Ltd.

Story first published: Monday, November 18, 2013, 9:11 [IST]
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