Housing Minister: Luxury real estate presents vast opportunities

28 Mar 2024 CW Team

Kaushal Kishore, who serves as the minister of State in the Ministry of Housing and Urban Affairs, remarked that the real estate sector presents significant opportunities. He expressed that luxury real estate holds vast potential for developers in the foreseeable future, citing India's substantial need for affordable housing to fulfill the fundamental requirements of all citizens.

Kishore conveyed these sentiments while addressing an event organized by the PHD Chamber of Commerce and Industry (PHDCCI) in New Delhi. During his speech, he also underscored the significance of initiatives aimed at ensuring housing for all and promoting affordable housing.

Chittaranjan Dash, the principal commissioner of the Delhi Development Authority, commented that the government has played a crucial role in facilitating luxury housing for everyone. He projected considerable growth for the real estate sector in the next 10 to 15 years, estimating its GDP contribution to be around 13%. Dash emphasized the multifaceted impact of regulatory and policy changes on the luxury real estate segment, including effects on warehousing, schools, hospitals, and other sectors.

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