Investment in real estate tripled between 2014-18: CII-JLL reporthttps://indianexpress.com/article/india/investment-in-real-estate-tripled-between-2014-18-cii-jll-report-5925287/

Investment in real estate tripled between 2014-18: CII-JLL report

A major portion of this investment was reported in metro cities like NCR-Delhi, Mumbai and Bengaluru, which accounted for 74 per cent of the total institutional investments during 2009-18.

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According to the report, investments in Indian real estate more than tripled to Rs 1,40,000 crore between 2014 and 2018, as compared to Rs 46,500 crore between 2009 and 2013. (Representational Image)

Institutional investment in the country’s real estate market has tripled in the last five years, a study report on Indian real estate market, released by the CII-JLL Wednesday at a real estate conclave organised by the Confederation of Indian Industry has revealed.

According to the report, investments in Indian real estate more than tripled to Rs 1,40,000 crore between 2014 and 2018, as compared to Rs 46,500 crore between 2009 and 2013. A major portion of this investment was reported in metro cities like NCR-Delhi, Mumbai and Bengaluru, which accounted for 74 per cent of the total institutional investments during 2009-18.

As per the report, riding on a high demand for office spaces, investments in commercial office space rose six folds to Rs 62,200 crore between 2014 and 2018, from Rs 10,500 crore between 2009 and 2013. “Modern technology across construction, planning and development and policy reforms like the concept of shared economy giving rise to new asset classes, such as co-living, co-working spaces, and technology-driven businesses, have together made it more feasible for occupiers and investors,” the report stated.

Ramesh Nair, CEO & Country Head, JLL India, said, “India has transformed into an investment destination of international repute post the global financial crisis and real estate and infrastructure have played a vital role.”

On the time consumed in taking approvals for a single project, Khushru Jijina, managing director of Piramal Capital & Housing Finance Ltd, said, “Like FMCG sector, even real estate sector has to adopt cost-cutting ruthlessly and adopt technology across the value chain to flourish.”