By Accommodation Times Bureau
In upcoming years it’s expected that there will be more 25% jobs in Real Estate Industry. According to Confederation Real Estate Development Authority of India (Credai) in their recent report, the sector which had over 9 million jobs till 2016 would at least expect hike of 25% more jobs by 2025.
“With positive demographics and a regulated environment, the sector is expected to spearhead the Indian economy by doubling its GDP contribution by 2025. This is bound to increase job opportunities. Moreover, there will be a positive impact on nearly 250 ancillary industries that depend on the real estate industry.” According to Jaxay Shah, Credai’s national president.
Few members of Credai found still challenging and should be addressed by the government. According to report, there are many challenges that would obstruct the sector include high borrowing costs, lack on institutional funding, lengthy approval processes, and slow and uneven infrastructure development. If these challenges are addressed properly then we can expect economic contribution of the sector, by double of 6.3% in 2013 to almost 13% by 2025.