By 2040, real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021 and contribute 13% to the country's GDP by 2025.By - India Brand Equity Foundation (IBEF)
Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
In India, the real estate sector is the second-highest employment generator, after the agriculture sector. It is also expected that this sector will incur more non-resident Indian (NRI) investment, both in the short term and the long term. Andhra Pradesh is expected to be the most favored property investment destination for every one
Amaravati Capital City Development Project consists of multiple projects in three phases over a plan period of 35 years. World Bank supported "Amaravati Sustainable Capital City Development Project (ASCCDP)", is aimed at supporting specified components identified by APCRDA / Government of Andhra Pradesh, related to the initial and most critical infrastructure to help develop the city.
The Project Development objective for the proposed ASCCDP - " To build urban services of flood mitigation, sanitation and road connectivity for selected parts of Amaravati Capital City as well as develop capacity of its public urban governance institutions" - reflects the objectives of the specific components being supported under this project by the bank.
Hi-Tech Townships, Integrated Townships, Group Housing, shopping malls, Office Spaces, SCOs and Hotel. It is currently undertaking 21 ongoing real estate projects - 12 Integrated Townships, 3 Group Housing, 6 Commercial Malls/office spaces/Hotels/ SCOs.