HindustanTimes Fri,18 Apr 2014

Real estate's share in GDP is 6.3%: report

PTI  New Delhi/Moscow, July 29, 2013
First Published: 00:00 IST(29/7/2013) | Last Updated: 00:02 IST(29/7/2013)

The contribution of the real estate sector to India's gross domestic product (GDP) has been estimated at 6.3% in 2013, and the segment is expected to generate 7.6 million jobs in the same period, according to a report by global property consultant CBRE.


It also noted that the Indian real estate and construction industry played an important role in developing the country's infrastructure and generated large economic activity.

The report, 'Assessing the Economic Impact of India's Real Estate Sector', was released by minister of housing and urban poverty alleviation Girija Vyas at the inaugural session of Natcon 2013 in Moscow, the flagship  event of Confederation of Real Estate Developers' Associations of India (Credai).

more from Real Estate

Offers sops, lower taxes to boost realty sector: Builders

The real estate sector, which has been reeling under a crisis as fewer and fewer people have been buying homes for the past several months, wants the government to come out with a comprehensive housing policy in the state budget.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved