New Delhi: India will become a USD 10 billion economy in the next 10 years, said Hardeep Singh Puri, Minister of State for Housing and Urban Affairs today.
“Real estate sector will play crucial role in making India a USD 10 trillion economy by 2030,” said Puri while speaking at CII Conference on Real Estate held in the Capital.
He also said that the government is committed to introducing Model Tenancy Law in order to promote rental housing in the country and the Bill for the same will be brought soon.
Union Finance Minister Niramal Sitharaman, while presenting the budget for 2019-20, had announced a Model Tenancy Law to promote rental housing.
With positive policy reforms, emergence of a strong workforce, introduction of new technologies and growth of newer asset classes, the momentum of India’s realty sector is growing substantially, said Anshuman Magazine, Chairman – CII Realty 2019 & Co-Chair, CII National Committee on Housing & Real Estate and Chairman & CEO – India, Southeast Asia, Middle East & Africa.
“Real estate as the country’s growth propeller and we at CBRE are committed to be at the centre of this growth trajectory,” he added.