Real estate sector in India-challenges and opportunities

The real estate sector is the third largest employer (after agriculture and manufacturing) in India and presently employs over 40 million workforce. India's construction industry will continue to expand over the forecast period (2016–2020), with investments in residential, infrastructure and energy projects continuing to drive growth. Various government flagship programs – including 100 Smart Cities Mission, Housing for All, Atal Mission for Urban Rejuvenation and Transformation (AMRUT), Make in India and Power for All – will be the growth drivers. There are certain challenges associated with India's real estate industry outlook. Limited funding, slow policy reforms and a weak currency are factors that will continue to limit the growth potential. Due to industrialization, urbanization, a rise in disposable income and population growth the demand for real estate is set to rise. This paper studies the key policy initiatives of the government for this sector and what the future holds. It is a secondary data based study.