NEW DELHI: India would become fourth largest infrastructure projects market in the world by 2025 as real estate and construction sector is continuously evolving in the country, according to a RICS report.
"Recent reports commissioned by RICS found affordable housing was an acute problem in some BRICS nations including Brazil, China and India, exacerbated by growing urban populations," Royal Institution of Chartered Surveyors (RICS) said in its report.
At present, India is at sixth position with 5.3 per cent share in the global infrastructure market and by 2025 its share will go up to 9.8 per cent and it will be at fourth position, the report added.
"Real estate and construction sector in India is continuously evolving at a rapid pace. All stakeholders of this profession need to come together to attract high quality talent in this sector," RICS Global MD - Emerging Business Sachin Sandhir said.
More than 50 per cent of urban growth will come from just seven countries: India, China, Nigeria, Indonesia, the USA, Pakistan and the Democratic Republic of Congo, it said adding that China and India will contribute more than one-third of the total growth.
It also added that Indian government has announced plans to not just create REITs but also investment infrastructure trusts (InvITs).
Therefore, investors, and the construction and real estate sectors more broadly, need to monitor changing policy landscapes to ensure they are ready to take advantage of new opportunities, the report said.
RICS is a global body for setting standards in property sector.