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Managing director of Century Real Estate Holdings Private Limited, Ravindra Pai who inaugurated the event said that nearly 6.5% to 7% of the GDP comes from real estate. With the contributions from the supporting industries, GDP could rise to 14%. He also added that with the creation of approximately 1.5 crore people from real estate, it is the second-largest job sector.
Ravindra Pai also said that by 2030, real estate alone will contribute up to USD 1 trillion. Either in the form of investment or any other NRI investment, it is the largest generator of foreign exchange in the country. He also said that companies like Nirmaan Homes and Bhargavi Builders have to become model organizations for real estate to prosper. If the industry grows over 10% every year, the country will turn into a USD 5 trillion economy.
Commenting on the real estate project, MLA Dr Y Bharath Shetty said that a project like Kailash will create a lot of employment opportunities and will become a good landmark for the city. MLA D Vedavyas Kamath who spoke at the event mentioned that he is working with builders to solve the key issues in the real estate industry, and aims to create better business-friendly opportunities.
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