Real Estate, Home Building & Construction Industry. Residential Apartment Development & Construction
An apartment is a private residence in a building or house that's divided into several separate dwellings. An apartment can be one small room or several.
Apartment means room in a building; a division in a house, separated from others by partitions. Flat means the house which having the facility of lane, rooms like kitchen, bed room, pooja, toilets, varandha and etc. Having individuality. But appartmenmt means group of flats having floors like ground, first, and second and so on.
The real estate sector is one of the most globally recognized sectors. Real estate sector comprises four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth of the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
Real estate sector in India is expected to reach a market size of US$ US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs.
The Indian real estate sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces.
Demand for residential properties has surged due to increased urbanization and rising household income. India is among the top 10 price appreciating housing markets internationally.
Residential segment contributes ~80 per cent of the real estate sector. Total residential unit launches in FY17 stood at around 108, 200.
The Indian housing industry has shown strong growth over the past few years. Moreover, rising purchasing power, continuously rising population, increasing investments in socio-economic infrastructures, rapid urbanization and migration of people from rural to urban areas are the main reasons boosting the housing sector, and it’s anticipated to register a strong growth in the coming years. India is expected to reach a market size of US$ US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025.
The Indian housing industry is highly fragmented, with the unorganised sector, comprising small builders and contractors accounting for over 70% of the housing units constructed. The organised sector comprises large builders and government or government affiliated entities. The investment in housing has steadily risen over the plan period. The tenth five-year plan envisages a growth of 381% in the total investment made in the housing segment. Such growth is owing to the shortage of housing in the country.
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