Real Estate companies have grown substantially in the last decade. Although the pandemic has slowed down this growth in the last few years, in the coming years it shows great potential. A few big names in the real estate business in India are Godrej Properties, Prestige Group, Tata Realty, Omaxe Ltd, DLF Ltd., etc. Some of them are over 50 years old and are based in overseas countries as well.
The real estate sector comprises has 4 sub-sectors – housing, retail, hospitality, and commercial. The real estate industry has influenced the economic condition of the country to a great extent. It has produced numerous job opportunities for young people and has been among the top employers. We shall look at how real estate has performed in the last 10 years.
A Look at the last 10 years of Real Estate Companies
Overall, the market has dropped by a huge margin since 2011 due to the drop in sales of real estate properties. However, the unsold properties have been reduced and the market is expected to reach new heights in the coming decade.
According to statistical data, the top cities like Bengaluru, Chennai, Pune, Hyderabad, Mumbai, Delhi, etc have shown a drop in sales. But on the other hand, cities like Dehradun, Chandigarh Noida, Gurugram, etc have become the new real estate destinations in the last few years.
The business is among the largest employers in India and is expected to become the top employment generator in the coming years. Currently, it is the second-largest job creator in the private sector in India.
Growth of Real Estate Sector in India
Real estate companies have shown tremendous growth in the era of structural development. From housing to the commercial sector, real estate has a vast influence on the development of society.
The sector is expected to reach Rs 65000 crore by 2040 and about 13% of the country’s GDP by 2025. Already the real estate industry is in 3rd position among the top 14 sectors in all economic aspects combined. The average growth rate has been about 5.5% during the last decade.
Bengaluru is the favorite destination for NRIs for real estate investment. Mumbai, Chennai, Pune, Delhi & Chandigarh are also among the top competitors in the real estate business.
Government Initiatives Towards Real Estate
The Government of India has taken major steps to make sure the development in these sectors takes a new high. The Smart City Project which plans to build 100 smart cities is one of those initiatives. It is a big opportunity for companies to expand their businesses.
Moreover, banks have kept interest rates reduced to boost sales in the housing sector. The Union Budget gives tax deductions up to 1.5 lakh on interest on housing loans to encourage affordable home projects.
Upcoming Decade for Real Estate Investment
The next 10 years for this sector show a huge potential that is expected to turn the table around for this sector. With new plans and government initiatives in progress, the sector will show an all-time high for the Indian economy. It is expected that the boom in this sector is yet to come and the next few years are just the beginning of the iconic development we are all looking for.
Top Real Estate Companies in India
The real estate market is very broad with new companies trying to make a mark in this high investment sector. However, some companies are very old and currently on top in terms of annual turnover with big projects coming their way. Here is a list of a few top companies in the real estate business.
DLF Limited
It is the biggest company in India when the total turnover is concerned. Chaudhary Raghvendra Singh founded DLF in 1946 with the project of a few urban colonies in New Delhi, and now it has become the largest listed real estate company. It has expanded its market to 15 states and 24 cities and is still growing.
Prestige Group
This is also one of the leading companies and a big name in the real estate sector. Razack Sattar founded the company in 1986 and within a short period, it had joined the top-listed developers in India. It is headquartered in Bengaluru and is among the top names in the construction business.
Also Read: Top 5 Cities To Buy Property in India
NBCC (India) Ltd
National Building Construction Corporation is a Navratna Enterprise under the Ministry of Housing and Urban Affairs. It is a government entity and takes care of both government and private projects. Currently, P.K Gupta is the Chairman, and MD Rakesh Gupta is the Executive Director of NBCC Ltd.
Oberoi Realty Limited
Among the top developers, Oberoi Realty Ltd. is a big name in Mumbai. It was founded in 1980 and has projects like Oberoi Sky Heights and Oberoi Springs under its name. With Social Infrastructure Projects like Oberoi International School, it is coined among one of the top real estate companies in India.
Godrej Properties Limited
It is a subsidiary of Godrej Industries Ltd and was established by Adi Godrej in 1990. Its head office is based in Mumbai and it is involved in various projects in the whole of Mumbai. It is among the top real estate companies in Hyderabad.
Omaxe Limited
It was founded by Rohtas Goel in 1989 and is among the popular real estate entities. This is a private company based in New Delhi and has expanded its projects into 27 cities, like Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, etc. It is popular for its integrated housing shopping malls and hi-tech offices.
Brigade Enterprises Limited
It was founded by M.R. Jaishankar in 1986 and has grown rapidly since then. It is headquartered in Bangalore with offices in Mangalore, Chennai, Kochi, Ahmedabad, etc. It has a representative office in Dubai as well.
Conclusion
As far as the statistical data and predictions are concerned, they all show progress in the real estate business. New projects and new real estate companies are expected to do well in the upcoming years. It has created widespread opportunities for youngsters and businesses. We all expect market growth reaches new heights and generates more opportunities in the future.
Written By: Mohit Burman
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