PUNE: The Confederation of Real Estate Developers’ Association of India (CREDAI) today released a report on Indian Real Estate’s contribution towards Viksit Bharat at its annual conference YouthCon organized by CREDAI’s Youth Wing – a leading industry platform designed to bring together the next generation of real estate developers to cultivate and mentor them, fostering growth into proficient professionals, principled entrepreneurs, and authentic leaders within the real estate sector.

Shri Hardeep Singh Puri, Hon’ble Minister for Housing and Urban Affairs & Petroleum and Natural Gas, Government of India, inaugurated the two-day conference alongside the CREDAI leadership team. The two-day conference featured various sessions aimed at helping delegates prepare for the future of real estate.

During the event, CREDAI released a report “Building Viksit Bharat”-Transformative role of the real estate sector in India. According to CREDAI, Indian Real Estate is bound to have a significant impact on the Indian economy – with the sector projected to reach $1.3 Trillion (13.8% of Projected GDP) by FY 2034 and $5.17 Trillion (17.5% of Projected GDP) by 2047.

CREDAI, in its report, also outlined pertinent industry trends and insights that are bound to provide a holistic view of the sector’s growth, while also giving direction to the industry as a whole:

• The current market size of Indian Real Estate stands at 24 lac crores, split between Residential and Commercial in the ratio of 80% and 20% respectively.
• Among the residential segment, 61% of the current supply is above the cost of Rs 45 lacs. The average home area is also increasing at 11% on an annual basis.
• Over 28 crore Indian citizens want to buy a house, among the 40-crore population that is yet to own a house in the country. CREDAI also projects that there will be a 7-crore additional housing demand by 2030.
• Reflecting the aspirational growth of Indian Homebuyers, over 87.4% of housing demand by 2030 is expected to be of houses costing more than 45 lacs.

With the above findings, CREDAI re-emphasized the significance of Indian Real Estate to the overall growth of the economy and some of the most important macroeconomic indicators including Employment, Revenues for Government and Banking eco-system, and increasing Per Capita Income. Coupled with the cascading impact of the sector that supports over 250+ industries directly and indirectly, CREDAI’s projections provide a definitive course of action and visibility on the sector’s contribution to the country’s development in its mission to become Viksit Bharat.

CREDAI President Boman R Irani shares his thoughts “Indian Real Estate today stands at an extremely important junction amidst India’s journey to become a developed economy by 2047. Due to its strong multiplier effect coupled with robust real estate demand – for both housing and commercial – the sector is bound to play a critical role in multiplying GDP value and increasing revenues, and per capita incomes that will aid further growth as a part of a self-sustaining cycle due to ever-increasing consumption. As India’s leading real estate body, we look forward to working closely with all stakeholders involved to ensure a seamless path towards achieving our collective mission of becoming a fully developed economy.”

CREDAI Chairman Manoj Gaur shares his remarks “As the premier body of Indian Real Estate, we feel extremely proud at what we’ve achieved as an industry – and are even more excited at the potential that this sector currently holds as the primary economic engine of this country. To achieve Viksit Bharat, Real Estate is going to be at the nucleus of growth which is also validated by the recent sheer volume that has coincided with strong QoQ GDP numbers. Moving forward – real estate again is going to play a pivotal role as India strives to multiply its economy.”

CREDAI President Elect Shekhar G Patel says “Currently, India is witnessing significant GDP growth despite global headwinds which is a testament to our economic and sectoral resilience. The entire real estate industry is extremely excited to build on this strong platform and re-emphasizes the importance of a facilitating eco-system that supports all concerned stakeholders, for not just the sustained and sustainable growth of the industry but the entire economy. Through our findings, we have devised a roadmap of Indian Real Estate’s contribution towards Viksit Bharat as we jointly work towards achieving the feat.”

The post CREDAI’s Roadmap To Viksit Bharat: Indian Real Estate’s Contribution To GDP Projected To Be $5.17 Trillion By 2047 appeared first on NRI News.

KANPUR:  The Government of Uttar Pradesh (GoUP), the Small Industries Development Bank of India (SIDBI) in association with Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur & StartinUP unveiled an ambitious plan to transform Uttar Pradesh into a leading startup hub in India over the next 25 years at an event titled “Amrit Kaal for Uttar Pradesh Startups – Roadmap for Next 25 years”. The event was organized as an in-person interaction with the leading Fund Managers & Startups with the officials of GoUP, to promote the startup culture and nurture the ecosystem in UP through Venture Capital Funding.

The event was graced by key government officials including Shri D. S. Mishra (IAS), Chief Secretary, GoUP, and Shri S Ramann (IA&AS), CMD, SIDBI as chief guests. Shri Anil Kumar Sagar, (IAS), Principal Secretary, GoUP, Shri Alok Kumar, (IAS), Principal Secretary, Planning GoUP, Dr. Lokesh M, (IAS), CEO, Noida Authority and Shri Ravi Ranjan, (IAS), Managing Director UP Electronics Corporation Limited (UPLC) in presence of other senior officials of GoUP and over 50 top venture capitalists participated to discuss policies and initiatives to rapidly grow the state’s startup ecosystem.

Shri S P Singh, Chief General Manager, SIDBI, while welcoming the participants & dignitaries, appreciated the proactive policies and support measures taken by the Government of Uttar Pradesh to boost the startup ecosystem in the state. The established incubation platforms and centers of excellence provide critical handholding support to nurture innovative startups. SIDBI stands ready to provide further impetus through the UP Startup Fund of ₹1000 crore set up under the UP IT and Startup Policy 2017. We are committed to working closely with the government and all stakeholders to drive a vibrant startup culture across Uttar Pradesh.

Prof Ankush Sharma, Professor Charge, Start-up Incubation and Innovation Centre, IIT Kanpur, & Dr Nikhil Agarwal, CEO, AI CoE & FIRST, IIT Kanpur, presented on the topic “Amrit-Kal for UP Startups: Roadmap for next 25 years”, outlining strategies for capitalizing on the current momentum in the state’s startup ecosystem.

Shri Alok Kumar, IAS, Principal Secretary, Planning GoUP, highlighted the achievements of the GoUP in the promotion of the Startup culture and how they established more than 60 incubators and a Centre of Excellence (COE) in the past two years.

Shri Anil Kumar Sagar, IAS, Principal Secretary, GoUP, highlighted initiatives like StartinUP and skill development centers across major cities of Uttar Pradesh. These efforts have fostered an environment conducive to nurturing innovative ideas, with well-equipped startup incubators ready to support any concept into a viable enterprise.

Shri S. Ramann, Chairman and Managing Director, SIDBI said, “The Government of India’s ₹10,000 crore Fund of Funds commitment catalysed over ₹55,000 crore in global capital flows into India’s startups, with SIDBI having disbursed funds to the tune of ₹4,300 crore already. This has resulted in about ₹17,000 crore getting invested into around 1,000 startups – demonstrating how alternative investment funds have become the preferred route for risk capital, enabling startups to pursue innovative solutions at scale. With the Securities and Exchange Board of India (SEBI) mandating dematerialization of Alternative Investment Funds (AIF) units, India’s secondary market for private investments is set to grow exponentially.”

Commenting on this, Prof. Ankush Sharma, Professor in charge, of Start-up Incubation and Innovation Centre, IIT Kanpur, said, “SIIC IIT Kanpur remains committed to enabling Uttar Pradesh’s aspirations to become India’s next leading startup hub through our robust incubation support. We will boost efforts to nurture passionate entrepreneurs across UP through mentoring and easier access to early-stage capital. By empowering innovators to develop solutions made in UP for India and the world, we aim to play a seminal role in job creation and equitable development, thereby contributing to the ‘Startup India’ mission.”

Startup founders and venture capitalists, including Lal10, Getwork, University Living, SVAS Fund, IAN Fund, Alkemi, Blume Venture, and Chiratae Venture, discussed Uttar Pradesh’s potential as a startup hub in comparison with Karnataka and Maharashtra. They shared insights and suggestions for enhancing the startup ecosystem and mobilizing venture capital funds in the state.

Shri Durga Shanker Mishra, IAS, Chief Secretary, GoUP in his remarks as chief guest announced that together with developing the area near the Jewar airport, the Government is also working on a major plan to develop the Bundelkhand area on the model of Noida by setting up Bundelkhand Industrial Development Authority. He assured that the request from various quarters for setting up of RoC at Noida will be addressed with utmost priority by the Government. The government is also working to operationalize 21 airports in Uttar Pradesh and 12 new universities. These measures are being taken to encourage reverse migration of talent in Uttar Pradesh. To address issues being faced by AIFs and Startups, a dedicated single window system will be set up. He also highlighted the importance of collaboration of educational institutes in UP along the lines of the USA.

Shri Ravi Ranjan, IAS, Managing Director of UPLC, gave the vote of thanks and assured the participants that GoUP will proactively resolve problems faced by startups and AIFs going forward. The vision and roadmap presented lay the foundation for Uttar Pradesh to build a thriving innovation ecosystem over the next 25 years with the active involvement of all stakeholders.

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