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Realty market to triple in size by 2010
The real estate market is all set to triple, over the next three years to Rs 200,000 croreApnaloan.com Research Bureau
10 Aug 2007
The real estate market is all set to triple, over
the next three years to Rs 200,000 crore, say realty industry watchers.
The emergence of retail sectors is said to have
made a significant impact on the industry which is currently at Rs 60, 000
crore. Cherian Varkey, vice-president of Builders Association of India (BAI)
said that the market is projected to reach Rs 200, 000 crore by 2010.
Varkey also said that the current slowdown in the
realty market is a temporary phase because incomes across all the classes are
rising. It has been estimated that over 1.20 trillion sq-ft of constructed area
will be acquired by urban and semi-urban India in the next 10
years.