‘Real estate will stem a favourable economic outlook making India a developed nation by 2047’

New Delhi, Sep 14: “Real estate will stem a favourable economic outlook, making India a developed nation by 2047”, said Shri
Kaushal Kishore, Hon'ble Minister of State for Ministry of Housing & Urban Affairs, Govt of India at Realty 2022 organised by CII
today at New Delhi. He mentioned that the real estate sector is clearly demonstrating a growth trajectory, helping in building the
nation collectively. He added that under the AatmaNirbhar Bharat, the government has taken various measures for the real estate
sector across the country to make it more sustainable.
A CII-CBRE report on Indian Realty Outlook – Demystifying Future Growth Opportunities was released during the conclave.
In his keynote address, Mr Anshuman Magazine, Chairman, CII NR and Chairman & CEO – India, Southeast Asia, Middle East
& Africa, CBRE said that India continues to be one of the world's fastest-growing major economies powered by a favourable base
effect.
“Growth would be supported by investment undertaken by the private sector and by the government, which has introduced incentives
and reforms to improve the business climate. The growth trajectory of the residential sector is a testament to its strong fundamentals
because despite a rise in construction costs owing to high input costs and the RBI's monetary tightening measures, both sales and new
launches have remained firmly on a growth trajectory. Developers need to align their project launches with the real demand of the market”,
said Mr Magazine.
In his welcome remarks, Mr Anil Saraf, Chairman, CII NR Committee on Real Estate & Infrastructure & CMF, ASF Group
said that the real estate sector is undergoing transformation catering to sustainability and environment. He mentioned that the
residential sector is the prime driver of the real estate sector. The sector has witnessed a shift from real life to real-time. E-commerce,
IT and Telecom has created huge opportunities and growth for the sector. “Indian real estate sector, being a major catalyst in the
country's economy, is currently prepping up for a revolution in terms of development”, said Mr Saraf.