Size of Indian Real Estate Economy is currently at USD 48 billion which is estimated to grow to 150 billion by 2015.
The Realty Sector has strong demographic advantage and rapid urbanization. India has large middle class base with a huge residential shortfall (20 million +)
The Realty Sector is the second largest employer after agriculture which contributes 5% to India’s GDP. India is facing a cyclical downturn at present which is believed to be a short term phenomenon.
India’s GDP growth for 2008-09 is expected to be 7% which is an impressive figure though lower than earlier expectations of 9%.