Synergy Steels Fuels Growth of Real Estate with Stainless Steel
India’s real estate and infrastructure sectors are experiencing a remarkable surge, with affordable housing at the forefront of this growth. Synergy Steels, a leading stainless-steel manufacturer in the country, is celebrating the dynamic demand for stainless steel driven by urbanisation, increased employment opportunities, and the growing requirement for housing. According to a report by the Confederation of Indian Industry (CII) and Knight Frank, urban centres in India will require approximately 22.2 million housing units, with 95% of this demand concentrated on affordable housing.
This presents a unique opportunity for stainless steel, a versatile material, to expand its presence beyond traditional applications into emerging sectors like construction and infrastructure. The demand for housing is so substantial that India needs to construct around 96,000 affordable units daily. This growing need aligns with global trends favouring sustainable and durable materials, placing stainless steel in a favourable position due to its robust and cost-effective nature. As Subhash Chand Kathuria, Chairman of Synergy Steels, explains, the real estate sector is not just a growth engine in itself but also acts as a stimulus for other industries, creating demand for construction machinery, tools, and raw materials like stainless steel. The strength, corrosion resistance, and longevity of stainless steel make it an ideal choice for affordable housing projects and large-scale infrastructure developments.
Synergy Steels is optimistic about India’s expanding infrastructure initiatives, especially with government-backed projects such as the approval of eight national high-speed corridor projects and the development of twelve new industrial cities under the National Industrial Corridor Development Programme (NICDP). The growth in infrastructure development is expected to create vast real estate opportunities and drive the demand for durable materials, further boosting the application of stainless steel in housing and infrastructure projects.
The Architecture, Building, and Construction (ABC) sectors, alongside Process Industries, are projected to account for significant portions of the stainless-steel market in India. Given its 100-year service life and low maintenance costs, stainless steel is becoming the material of choice for affordable housing, civil engineering applications, and large-scale infrastructure projects. By 2047, the real estate market is forecasted to contribute 18% to India’s GDP, significantly enhancing stainless steel’s role in long-term value creation.
