Potential for Real Estate Growth in India- Indian IT industry's revenues clock $ 40 billion [for year ending march 2007]
- The figure is likely to be $ 50 billion by March 2008
What does these figures mean?
- The IT industry would be adding 200,000 people during 2007-08 to the current strength of 800,000 people
The addition of 200,000 people would mean
- 20,000,000 sq ft addition to office space - translates as at least $ 1.5 billion
- 150,000,000 sq ft addition to residential space - translates to at least $ 7.5 billion
Addition of $ 10 billion to IT industry revenues mean about $ 9 to 10 billion to Real Estate Industry Revenues - tremendous potential indeed
