Diwali Investment: Exploring Higher Returns in Real Estate for Samvat 2081
Mumbai led the sales, contributing around 44% of the total, with luxury and premium housing seeing the highest demand, according to a report by JLL.
Real EstateDiwali InvestmentIndian MarketHousing SalesLuxury HousingReal Estate MumbaiOct 23, 2024
However, during the July-September quarter of 2024, PropTiger.com's 'Real Insight Residential Report' revealed a different trend. India's top eight residential markets experienced a year-on-year decline in both housing sales and new launches. A sharp 20% rise in home prices across these cities impacted affordability, resulting in a 5% YoY drop in overall sales. New launches fell by an even steeper 25% compared to Q3 2023.
Despite this, Delhi NCR stood out as a bright spot, registering a 29% YoY increase in sales, with 10,098 units sold compared to 7,800 in the same period last year. Additionally, the region saw a 76% YoY rise in new launches, with 11,955 units introduced in Q3 2024, indicating strong developer confidence.
As Samvat 2081 approaches, the question on everyone's mind is will the real return lie in real estate? To explore this, Business Today TV is hosting an insightful discussion featuring Dhruv Agarwala, Group CEO of Housing.com and PropTiger.com, and Niranjan Hiranandani, Founder & Chairman of Hiranandani Group. The discussion will be moderated by Arnab Dutta, Senior Assistant Editor of Business Today Magazine, and Siddharth Zarabi, Managing Editor of Business Today TV.
Housing.com and PropTiger.com are leading real estate platforms in India, providing comprehensive information and services to buyers, sellers, and renters. The Hiranandani Group, on the other hand, is a renowned real estate developer known for its premium and luxury residential projects across major cities in India.
Interested investors and homeowners should tune in to this discussion to gain valuable insights into the current and future trends of the Indian real estate market. With the festive season just around the corner, now might be the perfect time to make that key real estate investment.
Frequently Asked Questions
What is the current trend in the Indian real estate market?
The Indian real estate market is witnessing a surge in both residential demand and supply, with a notable rise in residential inventory. However, the July-September quarter of 2024 saw a year-on-year decline in both housing sales and new launches due to a sharp rise in home prices affecting affordability.
Which cities are leading in housing sales?
Bengaluru and Mumbai are leading in housing sales, contributing around 44% of the total sales, with luxury and premium housing segments seeing the highest demand.
How is the Delhi NCR region performing in the real estate market?
The Delhi NCR region has stood out, registering a 29% YoY increase in sales and a 76% YoY rise in new launches, indicating strong developer confidence.
What factors are impacting the real estate market in India?
Factors such as a sharp rise in home prices, affecting affordability, and increased interest from potential buyers are significantly impacting the real estate market in India.
Who will be featured in the discussion on real estate investment during Diwali?
The discussion will feature Dhruv Agarwala, Group CEO of Housing.com and PropTiger.com, and Niranjan Hiranandani, Founder & Chairman of Hiranandani Group, moderated by Arnab Dutta and Siddharth Zarabi from Business Today TV.
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