The real estate sector in India which comprises of four sub sectors -housing, retail, hospitality, and commercial, is the second largest employer after agriculture and is expected to grow at 30 percent over the next decade. The growth of the sector is well complemented by the growth of the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy. India’s real estate market is expected to reach about US$ 180 billion by 2020. The housing sector alone contributes 5-6 per cent to the country’s GDP. The market size of this sector is expected to increase at a Compound Annual Growth Rate (CAGR) of 11.2 percent. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for country’s growing needs.
The union Budget for FY 2017-18 has given a big boost to the affordable housing segment. Infrastructure status to affordable housing will increase the private participation in this segment and also lending to this segment will be a priority lending for banks. This will allow developers to access funds at lower rates. Under the scheme for profit-linked income tax deduction for promotion of affordable housing, carpet area instead of built up area of 30 and 60 square meters will be counted. The 30 square meters limit will apply only in case of municipal limits of 4 metropolitan cities while for the rest of the country including in the peripheral areas of metros, limit of 60 square meters will apply. With this, purchasers will get more spacious homes and affordable housing segment will be more lucrative for the developers.
Accelerating the Growth Agenda For People with Innovative Realty Projects : The Infrastructure, housing and real estate form the backbone of the country’s progress and are critical drivers of economic development. According to the report of the Technical Group on Estimation of Housing Shortage, an estimated shortage of 26.53 million.
India leads the real estate investment markets in Asia , according to a study by PricewaterhouseCoopers (PwC) and Urban Land Institute, a global non-profit education and research institute. The report, points out that India, in particular Mumbai and Delhi, are good real estate investment destinations. Residential properties are viewed as more promising than other sectors. Further, real estate companies are coming up with various residential and commercial projects to fulfill the demand for residential and office properties in Tier-II and Tier-III cities. This growth is mainly due to increase in demand for organised realty and availability of land at affordable prices in these cities.
Atlanta, taking its development and construction strengths forward with the right mix of aesthetic has established a firm footing in India’s financial capital, Mumbai, with a wide range of residential and commercial projects.
Having anticipated the market trends in the realty sector, Atlanta increased its preparedness to leverage the opportunities by prudently investing in land sites with clear land titles and concurrently demonstrated success and expertise across diverse formats by executing commercial projects and residential projects in prime and emerging locations in Mumbai.
With a longstanding sectoral presence in constructing and executing large projects, Atlanta is now on its way to build attractive properties in and around Mumbai and plans to develop innovative structures across all realty segments in emerging Tier II and Tier III cities across the country.
Atlanta is confident that the strategic initiatives mentioned above combined with a positive property market will help it draw on its capabilities, usher scalability, strengthen its presence in this sector and ensure sustainable profitability.
Atlanta’s Real Estate Business – At the Centre of the Realty Boom : Atlanta has executed various commercial and residential projects at fast developing locations in Mumbai. The company has prudently invested in land sites with clear titles in the growing areas of Malad, Goregoan, Thane, etc. The Company has over 1.1 million or 11 lac square feet of space under various stages of development. The focus has been on the development of premium residential, commercial, integrated township and redevelopment of properties. Quality construction innovation, optimum use of space, comfortable surroundings, modern amenities and vastu are at centre of its value proposition.