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Investments in Realty Sector Plummeted 6% in 4 Years: ASSOCHAM
Investments attracted by real estate sector from various public and private sources across India have declined by six per cent in past four years.
Earlier, the level was at Rs 15.2 lakh crore as of 2011-12 to about Rs 14.3 lakh crore as of 2014-15, apex industry body ASSOCHAM said.
"However, there has been a slight increase of just over two per cent year-on-year in the investments attracted by realty sector i.e. from a level of Rs 14 lakh crore in 2013-14 to Rs 14.3 lakh crore in 2014-15," according to ASSOCHAM survey.
"Ownership-wise, private sector accounted for lion's share of 85 per cent of the total investments attracted by the real estate sector across India.
While government/public sources accounted for remaining share of 15 per cent," according to the analysis carried out by the ASSOCHAM Economic Research Bureau (AERB).
"Real estate projects with about 76 per cent of the total investments attracted by the sector remained non-starter as of the aforesaid period," said Mr D.S. Rawat, secretary general of ASSOCHAM.
Maharashtra (21 per cent), Uttar Pradesh (14 per cent), Gujarat (13 per cent), Karnataka (12 per cent) and Haryana (eight per cent) are top five states with highest share in total investments attracted by the real estate sector in India as of 2014-15.
Clocking a compounded annual growth rate (CAGR) of about 82 per cent, Assam has recorded maximum growth in attracting investments in the real estate sector during 2011-12 and 2014-15.
Bihar (19 per cent), Odisha (17 per cent), Uttar Pradesh (16 per cent) and Uttarakhand (12 per cent) amid top five states in this regard.
While Jharkhand (40 per cent), Himachal Pradesh (37 per cent), Madhya Pradesh (29 per cent), Haryana (16 per cent) and Gujarat (seven per cent) have registered maximum fall in real estate investments.
Majority (75 per cent) of the total real estate developers interviewed by ASSOCHAM Economic Research Bureau (AERB) at aforesaid centres felt let down by the Union Government for lack of focus on improving demand/supply in the sector.
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