REAL ESTATE INDUSTRY IN INDIA - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

 The Indian real estate market is currently valued at USD 263.37 billion, and it is projected to grow at a CAGR of more than 20.51% during the following five years.

The COVID-19 epidemic had an impact on the nation's real estate market. The residential sector was additionally the most severely affected, as strong lockdown measures in India's major cities had an adverse effect on property sales due to the suspension of home registrations and the sluggish release of home loans. The industry did, however, rebound as a result of an uptick in home sales, the beginning of new projects, and rising demand for new commercial and office space, among other factors.

The expansion of the business environment and the demand for office space, as well as for housing in urban and semi-urban areas, are excellent complements to the growth of this sector. In terms of the direct, indirect, and induced effects on all areas of the economy, the construction industry is in third place among the 14 key industries.

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