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The real estate sector plays a major role in the economy of one country. The real estate division is second important to agriculture in terms of employment generation. Also another important aspect is it contributes greatly towards the gross domestic product. Almost five per cent of the country's gross domestic product is donated by the housing sector. It is estimated that in the next five years, this contribution to the gross domestic product would rise to 6 per cent. Faster economic growth in Brazil, Russia, India and China could result in the property markets of those nations improving at a faster rate than the US and UK real estate markets. It has also been suggested that India's property sector could begin to improve from last year and may attract up to US$ 12.11 billion in real estate investment over a five-year period. The IT and ITES sector alone is estimated to require 100 million sq ft of space across urban area in every developing country by next year. The organized retail industry is probably required an additional of 200 million sq ft by next year. The real estate sector is getting boost from Real Estate Mutual Funds and Real Estate Investment Trusts. In fact the Real Estate Investment Trusts would have the possible to hold at least 5 to 6 per cent share of the total global real estate market by next year. Also it is estimated that, Real Estate Investment alone would hold a market size of US$ 70 billion of the total real estate market in countries like India and other developing nations.
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