The real estate sector is one of the most globally recognized sectors. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The real estate sector comprises four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth of the corporate environment and the demand for office space as well as urban and semi-urban accommodations.

If we look at statistics, which elaborates that the demand for new office space in India has grown from an estimated 3.9 million sq. ft in 1998 to over 16 million sq. ft in 2004-05. 70percent of the demand for office space in India is driven by over 7,000 Indian IT and ITES firms and 15percent by financial service providers and the pharmaceutical sector. In 2005 alone, IT/ITES sector absorbed a total of approx 30 million sq. ft and is estimated to generate a demand of 150 million sq. ft. of space across major cities by 2010. This data clearly demonstrates the growth of the real estate sector in the country.

Its is also important to note that the real estate developers have been instrumental in changing the face of India from being an under-developed country towards accelerating its way to a developed country by developing the state of art infrastructure developments, buildings, townships, shopping malls not only in the urban towns of the country but in the Tier II & Tier III towns as well. This effort of developers has not only been useful in changing the face of India but in fact has been providing sustenance to 250 ancillary industries. The road doesn’t end here as this sector has also been a good employer, by being the second largest employment generator in the economy. The highlight is the fact that the

construction industry today ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.

Responding to an increasingly well-informed consumer base and, bearing in mind the aspect of globalization, Indian real estate developers have shifted gears and accepted fresh challenges

It is also expected that this sector will incur more non-resident Indian (NRI) investments in both the short term and the long term. The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing sector alone contributes 5-6 per cent to the country's Gross Domestic Product(GDP). In the period FY2008-2020, the market size of this sector is expected to increase at a Compound Annual Growth Rate(CAGR) of 11.2 per cent. Retail, hospitality and commercial real estate are also growing significantly, providing the much needed infrastructure for India's growing needs.

The Indian real estate sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces. According to data released by Department of Industrial Policy and Promotion (DIPP), the construction development sector in India has received Foreign Direct Investment(FDI) equity inflows to the tune of US$ 24.19 billion in the period April 2000 March 2016.

The Government of India along with the governments of the respective states has taken several initiatives to encourage the development in the sector. The Smart City Project, where there is a plan to build 100 smart cities, is a prime opportunity for the real estate companies.

Responding to an increasingly well-informed consumer base and, bearing in mind the aspect of globalization, Indian real estate developers have shifted gears and accepted fresh challenges. The most marked change has been the shift from family owned businesses to that of professionally managed ones. Real estate developers, in meeting the growing need for managing multiple projects across cities, are also investing in centralized processes to source material and organize manpower and hiring qualified professionals in areas like project management, architecture and engineering.

The growing flow of FDI into Indian real estate is encouraging increased transparency. Developers, in order to attract funding, have revamped their accounting and management systems to meet due diligence standards.

Also with our continued growth driven strategies and activities coupled with due attention and support from all-government, banks, and media we will be able to withstand any type of market conditions and would be playing key role in taking Indian economy to next level.