New Delhi: The real estate sector in India is likely to reach a market size of $180 billion by 2020, from $126 billion reported in 2015, a report said.

"The housing sector's contribution to the Indian GDP is expected to almost double to more than 11 per cent by 2020, up from estimated five to six per cent," said the CREDAI-JLL report released at the inaugural session of CREDAI Conclave 2018 here on Wednesday. The Confederation of Real Estate Developers' Association in India (CREDAI) is the apex body of private real estate developers in the country, while, JLL is a professional services firm specialising in real estate.

According to the report, the Real Estate Regulatory Act is expected to consolidate the real estate sector in the country as it would force out unscrupulous developers. The report further said: "Private equity and debt investments in real estate increased by 12 per cent on year-on-year (basis) across 79 transactions in 2017." "Private equity inflows in office and information technology and information technology enabled services during 2014-2017 (year-to-date) are 150 per cent higher than the previius seven years' inflow combined," it added. IANS