Govt may relax height restrictions to boost vertical real estate growth: Naidu

• Civil Aviation Minister Kinjarapu Ram Mohan Naidu announced potential regulatory changes to accelerate vertical real estate development.
• The government aims to double the real estate sector's contribution to India's GDP by 2047, with the market expected to reach $1 trillion by 2030.
• Future growth in real estate will rely on vertical development due to limited urban land, necessitating amendments in existing regulations.
• A comprehensive study is underway to examine the regulatory framework, with recommendations to be announced later.
• Minister of State for Housing and Urban Affairs Tokhan Sahu affirmed government support for construction, housing, and affordable housing segments.