Real Estate to Witness Impressive Growth

Posted on September 23, 2007

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Real Estate sector is set for an impressive growth due to India having a shortfall of 24.7 million housing units.

According to HDFC’s Chief Financial Officer Keyur Shah:

Affordability has gone up and the tendency to have a second-home among the youth are contributing to the spurt in demand

Real estate consultancy firm Knight Frank’s chairman Pranay Vakil said :

Real estate sector was growing at such a rapid pace that it might lead to shortage of workers at the ground level …  With the growth of the knowledge sector, the office sector will grow. The housing sector will continue to witness growth as long as mortgage finance rates remain stable

Source (Economic Times)

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