New Delhi, March 24 -- The intensifying West Asia conflict in the Strait of Hormuz is creating significant headwinds for the Indian real estate sector, as rising energy prices begin to inflate construction costs and threaten broader economic stability.

Niranjan Hiranandani, Chairman of National Real Estate Development Council (NAREDCO) and co-founder and managing director of Hiranandani Group, told ANI that the geopolitical tension is "unexpected, unbelievable, and something that has really affected the entire economy of the country."

He noted that because India imports 75 to 80 per cent of its energy, any disruption to key canal routes immediately impacts the petroleum-based products used across the industry.

The production of essenti...