Real estate Future
August 10, 2009
Real Estate having a good future. For example
According to ‘Housing Skyline of India 2007-08’, a study by research firm, Indicus Analytics, there will be demand for over 24.3 million new dwellings for self-living in urban India alone by 2015. Consequently, this segment is likely to throw huge investment opportunities. In fact, an estimated US$ 25 billion investment will be required over the next five years in urban housing, says a report by Merrill Lynch.
Growth in commercial office space requirement is led by the burgeoning outsourcing and information technology (IT) industry and organized retail. For example, IT and ITES alone is estimated to require 150 million sqft across urban India by 2010. Similarly, the organized retail industry is likely to require an additional 220 million sqft by 2010.