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

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.

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.

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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).