The India real estate sector is on a growth path, driven by strong economic fundamentals, proactive reforms and the use of technology will continue to boost the sector, said a new report.

The report, 'Future of India Real Estate: Deciphering the Mid-term Perspective' added that apart from the conventional sectors, the emergence of alternative segment (student housing and senior living) and greater demand from sophisticated logistics in the warehousing space are expected to be the drivers for robust growth and a promising future for the sector.

The report was jointly published by industry body FICCI and JLL. It analyses the drivers and challenges facing the sector in the next 2 to 3 years.

 It said rapid urbanisation is expected to offer significant opportunities for real estate and infrastructure development in Indian cities.

This sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces. It is also important to note that the real estate developers have been instrumental in changing the face of India through building state-of-the-art infrastructure, buildings, townships, shopping malls spread all over the country, it said.

The report added India's recovery from the effects of demonetization and GST is reflected in 2018 Q1 GDP clocking an impressive 8.2% growth.

CPI inflation, which has been a concern in the recent past, is expected to remain at 4.7% in the annual forecast for median inflation (2018-19 and 2019-20).

Apart from the macro-economic indicators, inflection points observed within each category of real estate markets indicate an overall stable growth in the medium term, it said.

Sanjay Dutt, Chairman FICCI Real Estate Committee said, "The sector has been through a bumpy ride in the last couple of years, but the environment is changing and the sector is back in the spotlight with key indicators pointing at the revival of Indian real estate."