India's Real Estate Sector To Need $ 257 Billion By 2015: Report

Mumbai: The real estate sector in the country would need an investment of $ 257 billion by 2015, including Economic Weaker Section (EWS) housing, of which residential real estate alone would require $ 29 billion, according to an EY-FICCI real estate report released.

"Investments required in the Indian real estate market by the year 2015, is approximately $ 42 billion (excluding EWS housing) and $ 257 billion (including EWS housing). Residential real estate alone will require an investment of $ 29 billion," the report said.

The Indian economy is ready to experiment with advanced funding options such as real estate investment trusts (REITs) and provide industry players with a global competitive edge, EY Tax partner (Real Estate Practice) Gaurav Karnik said.

"The contribution of the sector to country's GDP has been estimated at 6.3 per cent in 2013, and the segment is expected to generate 7.6 million jobs during the same period," he said.

He said the sector is also expected to generate over 17 million employment opportunities across the country by 2025.

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