REAL ESTATE AWARD
REAL ESTATE
CONSTRUCTION AND INFRASTRUCTURE
REAL ESTATE
Real estate sector in India is expected to reach US$ 1 trillion by 2030. By 2025, it will contribute 13% to country’s GDP. Real Estate stock in India was expected to reach 3.7 million square feet (msf) in 2019, with addition of 200 msf during the year. Emergence of nuclear families, rapid urbanisation and rising household income are likely to remain the key drivers for growth in all spheres of real estate, including residential, commercial, and retail. Rapid urbanisation in the country is pushing the growth of real estate. >70–75% of India’s GDP will be contributed by urban areas by 2020.
CONSTRUCTION AND INFRASTRUCTURE
Increased impetus to develop infrastructure in the country is attracting both domestic and international players. Private sector is emerging as a key player across various infrastructure segments, ranging from roads and communications to power and airports. In order to boost the construction of buildings in the country, the Government of India has decided to come up with a single window clearance facility to accord speedy approval of construction projects. India ranked second in the 2019 Agility Emerging Markets Logistics Index.
ARCHITECTURE
Architecture has played a significant role in the culture and tradition of India; however, the requirement of good architects in more than ever in the country.
Architecture represents how much a country has progressed and how much it is willing to improve. Public architecture, accurately, represents the pride of a nation. It shows the summit of ambition and achievement for the population of a country envisions. The future of architecture in India is highly creative and innovative, given the space challenge due to the ever-increasing population.