The real estate sector in India is set to be valued at $1 trillion in the next few years, coinciding with the Prime Minister’s vision of a $5-trillion economy

“One lakh houses in urban areas were constructed last year to provide rental accommodation to poor street vendors and migrant workers,” Mishra said at a session of the Bharat Chamber of Commerce.

The National Urban Digital Mission, initiated to improve urban connectivity, will connect nearly 2,535 cities, Union secretary for housing and urban affairs Durga Shankar Mishra said on Thursday.

In addition to completing 725 km of metro railway, 1,060 km are being constructed across 18 cities. “One lakh houses in urban areas were constructed last year to provide rental accommodation to poor street vendors and migrant workers,” Mishra said at a session of the Bharat Chamber of Commerce.

The real estate sector has been stressed for quite some time, but it has started showing signs of improvement since the first quarter of the current fiscal. The sector contributes an average of 7% to the nation’s GDP and is expected to reach 10% by 2025. “The real estate sector in India is set to be valued at $1 trillion in the next few years, coinciding with the Prime Minister’s vision of a $5-trillion economy,” Mishra said.

https://www.financialexpress.com/infrastructure/national-urban-digital-mission-to-connect-2535-cities/2300439/