The managing director and CEO of the National Housing Bank (NHB), Sriram Kalyanaraman, on Wednesday said in an interview that the Indian real estate industry is set to become a $180 billion industry by the year 2020. He expressed his opinions on the growth pattern of Indian real estate and said that the industry owes its future to the smart city missions, the relaxations in REIT regulations and the tax sops that facilitate easier home buying for individuals.
The experts said in a CII statement that the trends of Indian realty growth is very optimistic. Smart city projects and digitalization of a number of operations gives a push to the industry. The withdrawal of corporate tax from the Real Estate Investment Trusts (REIT) has revive the investment scenario. Investors will not only be attracted to park their money in real estate but the confidence level will also be enhanced. [Read more…]