[ad_1]
The Indian real estate market will be worth $1 trillion by 2030.
Harshvardhan Tibrewala.
A senior industry official told Khaleej Times that India’s real estate sector, the second largest employer after agriculture, is set to grow at new levels as a good regulatory environment eliminates unreliable developers and brokers.
“Strong regulation and oversight under the Real Estate (Regulation and Development) Act (RERA) has weeded out the wrong players from the now clean property market and we are seeing a strong uptick in sales activity,” Harshvardhan Tibrewala, Managing Director Roha Realty said in a statement. said in an exclusive interview.
“The market is well regulated and investors’ funds are under the supervision of RERA in escrow accounts. So there is a new factor of trust firmly in place. Non-resident Indians (NRIs) can now safely invest in property. However, they need to consider something things – such as location, price, quality and the qualifications of the developer.”
According to the Indian Brand Equity Foundation (IBEF), the Indian real estate sector is expected to be worth $1 trillion by 2030, up from $200 billion in 2021, and will account for 13% of the country’s GDP by 2025 .
Tibrewala opens up the company’s first overseas office in Dubai to tap the local market for NRI. His team is meeting with real estate agents in the UAE to ensure the safety of home buyers. He said a developer’s credibility in ensuring timely project delivery and quality would make or break a developer’s future.
A mid-sized property developer in Mumbai, India, Roha Realty has been named “Mumbai’s Most Promising and Trustworthy Developer” at the Business Giants Awards held in Dubai.
“We do plan to enter Dubai and other international real estate markets, and as a group we operate in 45 countries,” Tibrewala said.
Roha Realty has delivered eight residential projects, while another nine are currently in various stages of development. These belong to all segments to suit different budgets.
“NRI should study the market to invest. The INR/USD exchange rate makes investing more profitable as every dollar you spend on your home can buy more space in your home. Apart from 3-4% rental income, if you invest now , Investors can cash out three times the value of their assets in 6-8 years. For at least the next decade, India will rank first in terms of industrialization. After Covid-19, many countries want to move their operations to India, if industrial Come on, the real estate market has to perform well,” Tibrewala concluded.
business@khaleejtimes.com
[ad_2]
Source link