India Surpasses China as Asia's Real Estate Hub: Report
India's real estate market is on the rise, with companies worth $36 billion in 2024, pushing China to the second spot in terms of growth rate.
Real EstateIndiaChinaHurun ReportGroheReal EstateJul 11, 2024
On the other hand, China's real estate market is facing significant headwinds due to government clampdowns and demand slowdown. India, on the other hand, is witnessing rising foreign investments of around $4 billion yearly, further catalyzing growth.
The report highlights a significant trend towards national brand building in the real estate sector, with 60 of the top 100 companies operating beyond their core state headquarters. Moreover, six companies on the list have an international presence, demonstrating the global ambitions of Indian real estate companies.
DLF emerged as the top real estate company in the list, with a valuation of INR 2,02,140 crore, followed by Macrotech Developers with a valuation of INR 1,36,730 crore and Indian Hotels Company at third spot with a INR 79,150 crore valuation. Among the top 10 companies, 60% are headquartered in Mumbai, while two are based in Bengaluru and one each in Gurugram and Ahmedabad.
The report also highlights the rise of entrepreneurs from tier 2 cities, who are forging some of the most impactful real estate enterprises in the nation. Five per cent of the entrants in 2024 GROHE-Hurun India Real Estate 100 hail from tier 2 cities. This highlights the fact that geographic boundaries no longer limit the rise of influential real estate players in India.
India's infrastructure development is also expected to foster the growth of micro cities and further value addition by India's real estate sector. The country is projected to add 200,000 km of national highways by 2037, creating new opportunities for real estate development.
Information
Hurun India is a research firm that releases annual reports on India's richest individuals, philanthropists, and companies.
GROHE is a leading global brand for complete bathroom solutions and kitchen fittings. Hurun India is a research firm that releases annual reports on India's richest individuals, philanthropists, and companies.
Frequently Asked Questions
What is the valuation of India's real estate companies in 2024?
The valuation of India's real estate companies in 2024 is $36 billion.
Why is China's real estate market facing headwinds?
China's real estate market is facing significant headwinds due to government clampdowns and demand slowdown.
What is the projected growth rate of residential sales in FY2024-25?
The projected growth rate of residential sales in FY2024-25 is 10-12%.
How many companies on the list have an international presence?
Six companies on the list have an international presence.
What is the projected addition to India's national highways by 2037?
India is projected to add 200,000 km of national highways by 2037.
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