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Is the Indian Realty Sector Expecting a New Growth Trend?
India, known for its vibrant festivals, also benefits economically from these celebrations. Unlike Western markets, where discounts are usually reserved for year-end, India's diverse cultural calendar offers frequent opportunities for businesses to plan ahead and meet customer demands. However, for capital-intensive sectors like real estate, the growth often hinges on allied industries like cement, which play a crucial role in development.
According to a recent CRISIL report, the Indian cement industry is expected to see modest growth of 7-8% this fiscal year, following a compound annual growth rate (CAGR) of 11% during 2022-2024. This trend, driven by seasonal slowdowns and labor shortages, is set to rebound after the monsoon season, influencing real estate and construction activities. Several factors, including government-led housing initiatives like PMAY, a surge in labor availability post-festivals, and infrastructure projects, are poised to drive the demand for construction materials.
Real estate developers can benefit from this anticipated growth by strategically managing project costs and incorporating sustainable construction practices. Collaboration with government schemes such as PMAY could also enhance profitability while meeting the increasing demand for affordable housing. By adopting innovative techniques and careful planning, the realty sector is well-positioned to navigate challenges and capitalize on future opportunities.
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