Rising GDP Fuels Real Estate Boom: A Closer Look at India's Economic Surge
The strong economic growth of 7.8% in India's June quarter is set to boost consumer confidence and demand in the real estate sector. Industry leaders from CREDAI and NAREDCO cite this growth as a positive indicator for both residential and commercial properties, with further optimism for GST reforms.
- Country:
- India
In the wake of a robust 7.8% GDP growth in India's June quarter, leaders from the real estate sector are expressing optimism. Associations like CREDAI and NAREDCO anticipate a surge in demand for residential and commercial properties, attributing this to bolstered consumer confidence.
Shekhar Patel, CREDAI National President, lauded the economic momentum, noting that the resilience and potential of the economy signal a promising future for real estate investments. The sector eagerly awaits proposed GST reforms, expected to further amplify demand.
NAREDCO President G Hari Babu echoed these sentiments, underscoring the favorable outlook for the upcoming festive season. The latest data reaffirm India's status as the fastest-growing major economy, outpacing even China, and offering a fertile ground for real estate growth.
(With inputs from agencies.)
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