The Indian real estate sector has attracted nearly $3 billion as private equity and venture capital investments during January-August 2018, according to Indo-European Business Forum (IEBF).
IBEF, at its recently held 2018 summit in London, discussed the real estate sector's potential to reach $1 trillion by 2030, becoming one of the largest growing sectors in the Indian economy.
"The growth witnessed by the Indian real estate sector has made it a lucrative sector for investment as private equity and venture capital investments in the sector reached $2.99 billion during January-August 2018.
"Private equity investments in real estate are estimated to grow to $100 billion by 2026 with Tier 1 and 2 cities being the prime beneficiaries," IBEF said in a statement.
The reforms like the Real Estate (Regulation and Development) Act, 2016 (RERA) have been introduced to protect the interests of home buyers and boost transparency in the real estate sector, said Sunil Kumar Gupta, IEBF leader in India.
At IEBF 2018, the investment and growth opportunities that the Indian realty sector offers were highlighted, he said.
The two-day IEBF summit also elaborated on India's potential to reach the $10 trillion dollar economy mark by 2030 and the contribution of various sectors towards the goal, the statement said.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.