India Poised to Become Asia's Real Estate Powerhouse
India is set to surpass China as the real estate capital of Asia, with a projected worth of $36 billion in 2024, driven by a growing middle class and increasing urbanization.
Real EstateIndiaAsiaChinaHurun ReportReal Estate MumbaiJul 11, 2024
In contrast, China's real estate market is facing significant challenges, including government clampdowns, demand slowdown, excess supply, high debt levels among property developers, and strict government regulations. This has made India's real estate sector a more attractive and stable investment destination.
The report highlights that the middle class is projected to reach 547 million by 2030, which is expected to drive residential sales growth of 10-12% in FY 2024-25. Furthermore, rising foreign investments of around $4 billion yearly are further catalysing growth.
India's most valuable real estate firms have a cumulative value of Rs 14.2 lakh crore, which is more than the combined GDP of Oman and Sri Lanka. These companies employ around 500,000 people, equivalent to the population of Maldives. As many as 86% of the companies in this year's list saw their values increase, collectively adding Rs 6.2 lakh crore, showcasing the growth and recovery of the real estate sector.
DLF has emerged as the top real estate company with a valuation of more than Rs 2 lakh crore, followed by Macrotech Developers and Indian Hotels Company. The report also features some of the most valuable unlisted companies, including Adani Realty, K Raheja Group, and Aparna Construction's Estates.
Region-wise, around 41% of the listed companies hailed from the Western Region, while the Northern Region contributes 29% of the total companies, and the Southern Region comprises 28%.
Frequently Asked Questions
What is the projected worth of India's real estate sector in 2024?
$36 billion
What is driving the growth of India's real estate sector?
A young population, increasing urbanization, and a growing middle class.
What is the impact of RERA on India's real estate sector?
Increased transparency and accountability, boosting investor confidence.
How many people are employed by India's most valuable real estate firms?
Around 500,000 people, equivalent to the population of Maldives.
Which company has emerged as the top real estate company in India?
DLF, with a valuation of more than Rs 2 lakh crore.
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