With the country gearing up to celebrate the 75th birthday of India’s independence, real estate agents and realtors are gearing up for another round of bidding wars.
The year 2020 is set to be a crucial one for real estate in the country, with bids expected to surge up.
The country’s real estate sector is in the midst of a period of rapid growth and many of the properties are worth over $1 billion, according to an industry survey commissioned by the government and released on Thursday.
While the real estate industry has been witnessing rapid growth, the sector has also been witnessing an upsurge in the cost of construction and demolition, as the cost is rising, according the Real Estate Council of India.
While real estate development is a global business, the real value of the sector is largely confined to the country.
However, the country’s overall growth is in real estate, as growth in India’s construction and real estate sectors has been outpacing the country as a whole.
In the past decade, India has become the world’s largest exporter of real estate and the country has been the second-largest buyer of housing.
According to the government survey, in 2020, the industry has generated a whopping $9 billion in real money, while in 2020 it has generated an additional $1.5 billion in net revenue.
The real estate companies that make up the industry in India have also witnessed growth.
The industry has seen a sharp rise in real property values, as well as in construction costs.
For instance, in 2016-17, the average real estate property cost in the national capital city of Delhi was Rs.7,927 crore.
By 2020-21, it will be Rs.11,000 crore.
The overall increase in construction and construction services is expected to be around 20 per cent per annum, according a report in the Economic Times.
This year, there is no shortage of properties to be built and a number of projects are already in the pipeline.
The government has set a target of raising the total number of residential blocks in the state to 1.3 lakh by 2022.
There are also plans to increase the number of commercial and industrial zones in the region to 10 lakh by 2021-22.
The next target is to create 10 lakh commercial zones in 2021-23.
The government has also set a goal of creating over 3 lakh acres of land for commercial use.
The state government has a target to develop 8,000 acres of urban areas by 2021, up from the current target of 3,600 acres.