By the end of the current decade, India's construction sector needs to build a record 100 million housing units. The reason is that India's middle class is growing at a rapid pace, thanks to rising incomes as a result of the country's good economic data. Wages are growing, and hence the demand for housing.
„In the next 10 years, 70 million Indians will be able to afford their own home”, predicted Abxishek Lodxa, chief executive officer of the Mumbai-based company Motors Developers Ltd.
The government will continue to promote housing construction and infrastructure development. Analysts in the real estate sector have estimated that a record 906 billion USD will be invested in the construction sector over the next 10 years.
After the pandemic, India's real estate market hit a 15-year high in 2023. Nearly 600,000 housing units were built last year.
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