India’s biggest real estate firms on track to earn double-digit growth this year

India’s real estate sector is set to experience a double-digits growth in the year to March 2018, as the government and private players are trying to shore up investor confidence in the sector.

The government has set aside Rs 50,000 crore to start construction of five new airports and three rail lines.

The construction of three airports will be completed by the end of April.

The government is also planning to build two additional airports.

“The construction of airports is expected to commence in the next six months.

There will be a capacity of 2.5 million people.

Construction of rail lines is expected in the second half of next year,” said Aniruddha Pandey, senior vice-president of the Real Estate Development Corporation of India (REDCI), the body that administers real estate in India.REDCIs a consortium of private players including Birla Group, Mahindra Group, Kalaari Group and Tata Group.

The companies are in the process of finalising their contracts.

“The government is putting all its resources to build the airports, including the government’s land acquisition and land development fund.

There are also proposals for rail lines and a railway station,” said Ramesh Sharma, vice-chairman, real estate development corporation of India.

“We are optimistic that the government will put up all the resources to get the airports completed and build a new railway station in the coming months,” he added.REICCI has also set up a joint venture between it and its Indian arm to buy the rights to three other airports, to be operationalised in 2021, 2022 and 2023.

The deal includes a 10-year lease of the airports for a fixed price of Rs 25,000 crores.

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