Announcing the Titans of Delhi Real Estate Awards, which honour those who have made the city into a mecca of impressive structures.
Real estate is one of the strongest pillars of the Indian economy, with everything revolving around it. There’s so much that comes under the umbrella of real estate — from residential to commercial properties, as well as hospitality spaces. With greater proliferation of new-age technologies like Augmented Reality, Virtual Reality, and Artificial Intelligence (AI), the sector is witnessing a drastic transformation, and the future only looks bright.
In 2019, India’s real estate sector received investments to the tune of USD 6.26 billion. The retail sector garnered private equity investment worth USD 1 billion, while institutional investment was USD 712 million towards the end of March 2020. As per projections by the India Brand Equity Foundation, the real estate market in the country is slated to reach USD 9.3 billion from USD 1.72 billion in 2019.
Currently, the sector contributes nearly 7 percent to the Gross Domestic Product (GDP), which is likely to go up to 13 percent by 2025. Real estate is also the second-largest employment generator in the country, after agriculture.
The success of India’s real estate is even sweeter, because of the resilience it has displayed over the last few years. Despite the several obstacles that came its way, whether it was restructuring due to the Real Estate (Regulation and Development) Act, 2016, and Goods and Services Tax (GST), the industry was agile in its approach and emerged stronger than ever.
This wasn’t all, because it was in 2020 that real estate, like many other sectors, was hit hard. There were several challenges that had to be overcome, the biggest being that of the migrant exodus. The workers were apprehensive about reaching their villages and towns safely, but the developers came to the fore to ease out their problems. What stood out was the unity displayed by the industry to tide through these turbulent times.
Of course, there were many more upheavals to deal with. Around the same time, the prices of key raw materials shot up by a staggering 30-50 percent, making it harder for the industry to stay firm. None of these adversities crushed their spirit; in fact, the approach to problem-solving displayed by developers was commendable.
There were some who stood out from the rest, serving as an inspiration for the others. At Hindustan Times, we are proud to announce the Titans of Delhi Real Estate Awards, which honour those who have made the city into a mecca of impressive structures.
The winners include developers across quarters – from those who deal in first to second homes; from townships to gated communities and stand-alone buildings; and from luxury to affordable housing.
https://www.hindustantimes.com/brand-stories/hindustan-times-recognises-the-best-developers-in-the-national-capital-101615550316322.html
