The real estate sector of the country has created more than 3 crore new jobs in the last 10 years. Real estate consultant Anarock and industry body NAREDCO have said this in their joint report. According to the report, the total employment in the Indian real estate sector increased to 7.1 crore in the last calendar year, whereas in 2013 this figure was 4 crore. According to Bhasha news, the report said that the residential sector achieved good growth, supported by the new policy reforms of the Modi government. Because of this, employment opportunities increased rapidly.
Real estate sector’s share in the workforce
According to the news, ANAROCK-NAREDCO’s report ‘Real Estate Unboxed: The Modi Effect’ released on Monday said that India’s residential real estate market has greatly benefited from several reforms of the Modi-led government. These reforms helped the industry to emerge stronger and scale new heights.
The share of real estate sector in the total workforce of the country is more than 18 percent. A total of 29.32 lakh units were built and 28.27 lakh units were sold between 2014 and 2023 in India’s top seven primary housing markets.
Good growth seen in demand and prices of houses
NAREDCO National President G Hari Babu said the government has boosted the real estate sector in the last 10 years through various schemes like Real Estate Regulation and Development Act (RERA), Goods and Services Tax (GST), and Pradhan Mantri Awas Yojana (PMAY). Gave strength. Anarock Chairman Anuj Puri said there was significant growth in demand and home prices in the top seven markets – Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad and Pune. In recent years, the demand for luxury and big houses in India has also increased rapidly. Its demand was seen very strong in cities like Delhi-NCR, Mumbai and Bengaluru.
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