‘Huge biz opportunity in real estate’

Source: The Hitavada      Date: 08 Apr 2018 09:44:40


 

Business Bureau,

THERE is a huge opportunity for entrepreneurs to get into affordable housing due to fast growing urbanisation and growth in demand for affordable housing within the bracket of Rs 10 lakh to Rs 20 lakh. About 11 crore houses will likely be required by 2022. Out of this, 70 per cent of the urban housing need will be in the affordable housing segment. This was disclosed by Anil Nair, President of CREDAI Nagpur Metro while talking on the topic ‘Affordable housing: Growth engine of real estate,’ at the flagship TiEcon event organised by TiE Nagpur here in the city on Saturday.


Nair said that the real estate sector was slated to grow at 30 per cent over the next decade.There existed a huge opportunity for the entrepreneurs to come up with bright new ideas in order to lower the cost of construction.


Debraj Ghosal, Faculty of SPJIMR spoke on the topic ‘Replicating the success of Chinese entrepreneurial ecosystem in central India’. He said that in China there were 58 unicorns or start-up company valued at more than a billion dollars, typically in the software or technology sector compared to 10 in India. China had a $13 trillion market economy.
Rajesh Rathi of Omega Techno Solutions Pvt Ltd was the moderator of the session.