High demand drives real estate growth in India

The real estate sector in India is on a high growth path. Several government initiatives have contributed to this high-growth environment - liberalisation of foreign direct investment norms in real estate in 2005, introduction of the SEZ Act, and allowing private equity funds into real estate.

In addition, the government allocated Rs 50,000 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in order to improve urban infrastructure in 63 cities.