India’s real estate sector is set to become a USD 180-billion industry by 2020, building on initiatives such as smart city mission and tax sops for investment trust REIT, a top NHB official said today.
“The real estate sector is set to become a 180 billion dollar industry by 2020,” National Housing Bank (NHB) Managing Director and CEO Sriram Kalyanaraman was quoted as saying in a CII statement. “On the basis of the Smart City projects, land record digitisation, withdrawal of corporate tax from REIT structure, the real estate sector growth is bound to attract funds and confidence of the investors as well in a big way,” he added. Home loan disbursements from NHB have been encouraging, Kalyanaraman said. The demand for warehousing space would grow whenever the GST Bill is implemented.