The real estate and construction sector in India is expected to be the third-largest globally by 2030, contributing over 15% to Indian GDP, according to a report jointly released by NAREDCO and KPMG. It is also expected to be the largest employer in India by 2022, employing more than 75 Mn people. The market size is expected to grow to $1 Tn in 2025, making it the third largest globally.
But when one hears news of defaulting builders, projects getting delayed and customers’ money is tied up for years in such projects, one is bound to raise the question – can the real estate sector rise beyond these inefficiencies to actually become the behemoth it is projected to be? Sashi Kiran, co-founder of real estate tech startup FalconBrick believes it can.