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The residential real estate market in India had astounding progress in 2022, setting new sales records of 68% YoY, further demonstrating the industry s prominence as one of India s fastest-growing industries.
The real estate industry is expected to have strong growth in 2023 as a result of technical advancement, acceptance of digitalization, the accomplishment of infrastructure investments in a stable manner, demand, and NRI investments in the nation.
Over the past couple of years, one of India s fastest-growing industries has been the real estate industry. For PMAY houses, the Union Budget 2023–24 allocates Rs. 79,000 crore which is a rise of 66% from the previous year.