Real estate in Chennai

Indian construction industry is all set to become $180 billion sector by 2020 from its present size of 50 billion dollar, said an PHDCCI study. This projection was made on the assumption of 6-7 per cent annual growth for the domestic construction industry. With recent emphasis by policy makers in developing adequate infrastructure in the country, the study said time was ideal for the sector to propel national economy on a higher growth trajectory, by maximising performance and operational efficiency. The study also pointed out that India needed an investment of 35 billion dollar for road development in the next eight years, which already had received a boost due to job-generating Golden Quadrilateral projects, 55 billion dollars to install new telecom networks in the next 12 years and eight billion dollars to modernise ports. At the same time, new opportunities were arising for the construction industry in the aviation sector as air passenger traffic was expected to double by 2006 and an investment of three billion will be made in the next decade.