Maharashtra, Uttar Pradesh and Gujarat together make up for over half of the total investments worth more than Rs 12 lakh crore in the realty sector from private players -- including domestic and foreign.
"UP has managed to increase its share in private investments in real estate sector to 16 percent in 2014-15, from 0.1 percent in 2004-05," an Assocham report said.
"UP has managed to increase its share in private investments in real estate sector to 16 percent in 2014-15, from 0.1 percent in 2004-05," an Assocham report said.
The report titled 'Real estate investment: State-level analysis' by the Associated Chambers of Commerce and Industry of India (Assocham) said the share of private investment in the realty sector in Gujarat went up by about 10 percent last decade.
In the case of Maharashtra, it has slipped to 22 percent in 2014-15, from 25.5 percent in 2004-05.
In the case of Maharashtra, it has slipped to 22 percent in 2014-15, from 25.5 percent in 2004-05.
Within states, private players accounted for over 98 percent of total investments by the real estate sector in UP whereas it stood at 92 percent for Gujarat and 89.5 percent for Maharashtra.
Of the total investments worth over Rs 14 lakh crore across India in 2014-15, private and public investors chipped in with about 85 percent and 15 percent, respectively, the report said.
Of the total investments worth over Rs 14 lakh crore across India in 2014-15, private and public investors chipped in with about 85 percent and 15 percent, respectively, the report said.
"Improving macroeconomic conditions, enabling policy environment, recovering demand, attractive valuations and increasing capital requirements of the real estate sector have lured private players over the years," Secretary General of Assocham D S Rawat said during the release of the report.
"With the Centre liberalising FDI rules in the realty and construction sector, we are hopeful that it will lift the affordable housing space, revive steel, cement and other related sectors, revive employment scenario and boost GDP growth."
He said Karnataka alone received over 38 percent of the total investments made by the public sector across India, followed by Maharashtra at 14.5 percent and Gujarat at 7 percent.
Intra-state, the public sector accounted for the highest share of 99 percent of total investments in realty in Jammu and Kashmir.
"With the Centre liberalising FDI rules in the realty and construction sector, we are hopeful that it will lift the affordable housing space, revive steel, cement and other related sectors, revive employment scenario and boost GDP growth."
He said Karnataka alone received over 38 percent of the total investments made by the public sector across India, followed by Maharashtra at 14.5 percent and Gujarat at 7 percent.
Intra-state, the public sector accounted for the highest share of 99 percent of total investments in realty in Jammu and Kashmir.
Over 75 percent of the total real estate projects in India remained non-starter as of 2014-15 while a whopping 99 percent in Andhra Pradesh remained stuck due to various issues.
In its study, the industry chamber has suggested various measures to support the real estate sector in India - passage of the Real Estate Bill on a priority basis and introduction of a single-window clearance for all real estate projects by central and state governments.
In its study, the industry chamber has suggested various measures to support the real estate sector in India - passage of the Real Estate Bill on a priority basis and introduction of a single-window clearance for all real estate projects by central and state governments.
Source: magicbricks.com
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