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.
Related News Articles
Raymond's Real Estate Venture Receives Thumbs Up for Demerger, Eyes Rs 25,000 Crore Revenue
Raymond Realty, a subsidiary of Raymond Ltd, has launched its first joint development agreement project in Bandra, Mumbai, and is set to demerge from its parent company to unlock its growth potential.
FPCE Questions MahaRERA's Move to Set Up Forum for Builder-Buyer Disputes
FPCE President Abhay Upadhyay has written to the Union Ministry of Housing and Urban Affairs, objecting to MahaRERA's conciliation forum and its 'suspicious functioning'.
REC Ltd Shares Soar Over 3% After Signing MoUs Worth ₹1.12 Lakh Crore
REC Ltd shares surged over 3% on the NSE after the company signed non-binding MoUs worth ₹1.12 lakh crore with renewable energy developers.
MHADA Lottery 2024: 19,000 Affordable Homes for Sale in MMR and Pune at ₹12 Lakh and Above
The Maharashtra Housing and Area Development Authority (MHADA) is set to launch a lottery for 19,000 affordable homes in the Mumbai Metropolitan Region (MMR) and Pune. The homes are priced starting from ₹12 lakh, offering a glimmer of hope for low and mid
Residential Real Estate Booms, Ultra-Luxury Sector Slips, Flex Spaces Rise
Mumbai's home sales hit a 13-year high in 2024, while a new report highlights various trends in the real estate market across major Indian cities. The report by Knight Frank India provides a comprehensive overview of residential and office space dynamics.
RR Rate Hike Faces Delays Despite Ministerial Directive, Officials Cite Time Constraints
Despite a directive from the minister, the pre-publication of Revised Rate (RR) rates is likely to face delays due to time constraints, raising concerns among real estate developers in Pune. A developer explains the potential impact on flat prices and uns