Real Estate & Construction Industries
The Indian infrastructure (building) and actual property sector plays a main role in the advancement of the country towards attaining the’ developed nation ‘ status from a’ developing country.’ There is, however, agreement that inadequacies in infrastructure would be an important constraint in realizing our potential for development.
Therefore, an ambitious infrastructure investment program has been developed to strengthen and consolidate latest projects linked to infrastructure and true estate. The Planning Commission has produced predictions of public-private investments in each industry to complement the estimates of Gross Capital Formation in infrastructure, based on a thorough analysis of industry trends and projected expenditure.
The Indian real estate industry plays an important part in the economy of the country, second only to agriculture in terms of job creation and contributing strongly to the gross domestic product (GDP). The residential industry contributes about five percent of the country’s GDP.
Nearly 80% of the actual property created in India is residential space, the remainder of which consists of offices, shopping malls, hotels and hospitals. There has been a shortage of 22.4 million dwelling units, according to the Tenth Five-Year Plan. Thus, 80 to 90 million housing units will have to be built over the next 10 to 15 years, with most of them serving middle-and lower-income communities.
Between April 2000 and about the end of 2014, the building development industry got approximately $24 billion, representing 10 percent of the country’s general FDI over the period.
HSAG offers a broad variety of professional services to the real estate and building industry in the following areas: techno-commercial and/or simultaneous internal audits for the inner real estate sector, unique audits to guarantee enhanced effectiveness, domestic IT and IT security advisory services and associated hardware, connectivity and software audits.