Investing Opportunities

Real estate adds over 1 lakh cr in Delhi’s GDP

Real estate services added over Rs 1 lakh crore to Delhi’s GDP of Rs 2.58 lakh crore in 2010-11, emerging as top contributors to the city's economy and reflecting the rapid growth and buoyancy in the sector.

              The real estate sector, which includes property brokers, home buyers, landowners, property owners and housing finance institutions, contributed 39.69% to the gross state domestic product (GSDP) of the city at current prices, according to the latest Delhi government statistics.

              The contribution of the sector has gone up to Rs 1.02 lakh crore in 2010-11 compared to Rs 35,885 crore in 2004-05, registering an annual compound growth of 19.16% in the last six years.

              Reflecting the buoyancy in the sector, it said overall, Delhi and the NCR witnessed a net absorption of 1.63 million sq ft of property space (1,51,755 sqm) in the first quarter of the year.