There is No Slowdown in Indian Real Estate: Mr. Navin M Raheja, President, NAREDCO

The growth of highrise buildings in India has gone up for many practical reasons & with growing purchasing power Indian consumers are opting for it for a better quality of life

India's construction industry plays a key role in underpinning the Indian economy. The real estate sector directly employs 1 crore blue collar labour and indirectly,1 crore through services.

Industry stakeholders believe that real estate will grow in India despite recession.

 Mr. Navin M Raheja, President, NAREDCO & CMD,Raheja Developers Limited said, "There is no slowdown in Indian real estate, there never can be one and there never will be one"

Mr. Navin M Raheja, attributes his optimism of the Indian real estate industry to the demand supply gap in housing (1.5 crore units plus) and the growing aspiration of the newage Indian buyer.

 

Navin M Raheja,
President, NAREDCO

Home today has been redefined from a living space that takes care of just functional needs to one that caters to higher order needs & desires of individuals.Often it is an extension of one's personality intimate, comfortable and exclusive.

Tremendous Wealth Creation..

The economic boom in India over the past 20 years has led to tremendous wealth creation resulting in new breed of entrepreneurs joining the exclusive ranks of traditional business families.Both have been catapulted to a higher quality of life.

The new Indian is both affluent & aspirational - Mr. Navin M Raheja demands a living space that comes with the promise of an exclusive lifestyle. Each project continuously raises the bar of superior living, pushing the envelope on design, architecture & construction and amenities.

Urbanization Rise..

As urbanization is on the rise - the number of urban agglomerations has increased from 384 in 2001 to 475 in 2011,a decadal increase of 23.7%.

Urbanization creates demand for spaces to live & work - those which are safe & energy efficient with technological innovations.In a growing economy like India, it is only natural that there would be challenges on every count, be it regulatory, safety or manpower. 

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