The Growth in the Indian Real Estate Sector

The Growth in the Indian Real Estate Sector

The Growth in the Indian Real Estate Sector

The Indian real estate sector has witnessed unprecedented growth in recent times and is all set to grow by 9% by 2028. According to reports, the Indian real estate market expects to reach USD 265.18 billion in 2023 and grow at a CAGR of 25.60% to reach USD 828.75 billion by 2028.

The residential real estate industry in India has witnessed exemplary growth in 2022, and this can majorly be attributed to the growing awareness of home ownership, coupled with the various affordable housing schemes offered by the government that have led to significant growth in the affordable housing segment in India. The real estate growth rate in India in the luxury residential market has also seen marked progress by 151% year-over-year in the first quarter of this year.

Initiatives by the Government – Providing an impetus to affordable housing, the Union Budget presented by Finance Minister Nirmala Sitharaman on February 1, 2023, saw an increased allocation for the PM Awas Yojana (PMAY) by 66%. The scheme launched by the Government in 2015 to provide affordable housing to all citizens was allocated 79,000 crore this year compared to 48,000 crore last year.

In addition, the Government has also undertaken several initiatives to encourage development in the Indian real estate sector, which includes the Smart Cities Mission, which intends to promote “cities that provide core infrastructure, clean and sustainable environment and give a decent quality of life to their citizens through the application of smart solutions".

Built on a similar vision is Wave City by the Wave Group, which is a perfect synthesis of nature and luxury. Spread over 4200 acres, with 35% dedicated to swathes of pristine greenery, Wave City is a perfect amalgamation of a picturesque location offering world-class amenities.

Situated in Ghaziabad, adjacent to National Highway NH-24, Wave City offers luxurious, spacious, well–ventilated 3 BHK, 4 BHK apartments and magnificent 5 BHK Sky villas designed for a truly serene and luxurious lifestyle.

Experience the magic of the Clubhouse that comprises a Swimming Pool for you to beat the heat, a Yoga and Meditation centre for your holistic well-being, a Gym to help you attain your fitness goals, a multi-cuisine Restaurant to build memories with your loved ones, a Multipurpose Hall to celebrate your significant milestones with your family and friends, a Kids’ Play Area for your little ones to nurture their creativity and imagination and much more.

Featuring a gated society with 24*7 security and CCTV surveillance, Wave City offers you an elevated living experience. Home to over 4,000 happy families, Wave City is truly the abode for the home of your dreams. Book the home of your dreams now! Experience the difference and live in perfect harmony!

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