NAREDCO Chair Hiranandani Highlights 20 Lakh Skilled Worker Shortage in Real Estate and Infrastructure Sectors

Niranjan Hiranandani, chairman of Hiranandani Group and NAREDCO, stated that India’s real estate and infrastructure sectors face a shortage of 20 lakh skilled workers, expected to rise to 50 lakh in five years. He highlighted declining sales in affordable housing, attributing it to high land costs near city centers. Despite a 10% growth in the real estate sector overall, affordable housing sales fell by 15%. Rising construction costs, taxes, and land prices hinder affordable housing development. Hiranandani urged government intervention to address these issues. Pan-India housing sales remain strong, with projected growth over 15% in 2025.