Coimbatore leads the growth with a 36% increase in sales volume, while Visakhapatnam's real estate market experiences a 21% downturn.
Housing SalesTierii CitiesReal Estate MarketCoimbatoreVisakhapatnamReal Estate NewsFeb 17, 2025
Coimbatore recorded the highest growth in housing sales volume at 36%.
The growth in housing sales in tier-II cities can be attributed to the government's push for affordable housing under the Pradhan Mantri Awas Yojana (PMAY), the trend of remote working, and improvements in infrastructure and connectivity.
Visakhapatnam faced a severe downturn in its real estate market, with a 21% decline in sales volume.
The main challenges include the issue of unsold inventory and the need for better regulatory frameworks to ensure transparency and accountability in the real estate sector.
The Pradhan Mantri Awas Yojana (PMAY) has been a significant driver for the growth in affordable housing in tier-II cities.
Capital values in premium localities of Goa, Chandigarh Tricity, and Kochi are now almost at par with key markets in Delhi-NCR and Mumbai Metropolitan Region.
The Shapoorji Pallonji group's real estate arm is expected to contribute 30% to the group's revenues in the next 2-3 years, driven by new launches and growth in the sector.
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