Real Estate market to reach $1 trillion by 2030: Durga Shanker Mishra

22 Jul 2021 CW Team

Mishra further explained that the law implemented by the states would be prospective, and discussion of each conflict associated with the rent agreements would be done under the previous laws of every state.

He mentioned that the real estate sector underwent tough challenges throughout the first and second waves of the Covid-19 pandemic. However, the housing demand has recovered.

The housing secretary revealed that the real estate sector, 2-3 years ago, was nearly USD 200 billion. Now, it is likely to reach USD 1 trillion by the year 2030.

About the RERA, he told, that nearly 67,000 projects and 52,000 property agents are listed under this law. Real estate authorities set up under this law have disposed of over 70,000 cases. Every state but West Bengal executed this law.

Mishra highlighted additional reforms such as the start of Real Estate Investment Trust (REIT) and the establishment of a stress fund known as

Special Window for Affordable & Mid-Income Housing (SWAMIH) to finish the delayed housing projects.

He said the Affordable Rental Housing Complex (ARHC) scheme started by the government to construct homes for migrant workers would also generate business opportunities for the sector.

Moreover, he instructed the real estate industry to concentrate on the affordability of residential houses to draw buyers from lower and middle-income groups.

Image Source

Also read: NAREDCO demands one-time loan restructuring for stuck realty projects

Also read: Private equity investment in Indian real estate at $2.7 bn in 2021

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Housing and Urban Affairs Secretary Durga Shanker Mishra told the media that the Indian real estate market is expected to reach $1 trillion by 2030, following the rise in demand and several changes in the last seven years, such as the new realty law Real Estate Regulatory Authority (RERA). Mishra said that employment in this sector is also likely to increase to 7 crore in the upcoming years, from 5.5 crore in 2019. The states have been directed to execute the Model Tenancy Act soon, passed by the Union Cabinet in June 2021. Mishra further explained that the law implemented by the states would be prospective, and discussion of each conflict associated with the rent agreements would be done under the previous laws of every state. He mentioned that the real estate sector underwent tough challenges throughout the first and second waves of the Covid-19 pandemic. However, the housing demand has recovered. The housing secretary revealed that the real estate sector, 2-3 years ago, was nearly USD 200 billion. Now, it is likely to reach USD 1 trillion by the year 2030. About the RERA, he told, that nearly 67,000 projects and 52,000 property agents are listed under this law. Real estate authorities set up under this law have disposed of over 70,000 cases. Every state but West Bengal executed this law. Mishra highlighted additional reforms such as the start of Real Estate Investment Trust (REIT) and the establishment of a stress fund known as Special Window for Affordable & Mid-Income Housing (SWAMIH) to finish the delayed housing projects. He said the Affordable Rental Housing Complex (ARHC) scheme started by the government to construct homes for migrant workers would also generate business opportunities for the sector. Moreover, he instructed the real estate industry to concentrate on the affordability of residential houses to draw buyers from lower and middle-income groups. Image Source Also read: NAREDCO demands one-time loan restructuring for stuck realty projects Also read: Private equity investment in Indian real estate at $2.7 bn in 2021

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..