Indian Real Estate Market Sees Historic Low in QTS Level, Driven by High Demand
The quarter-to-sell level in Indian real estate has hit a historic low, with luxury homes leading the charge. Mumbai-based Oberoi Realty reports 82% rise in net profit, driven by pricier homes.
Indian Real EstateQts LevelLuxury HomesOberoi RealtyKnight FrankReal Estate MumbaiAug 19, 2024
This decline in QTS level is a clear indication of high sales traction and better market health. The mid-segment homes, with a ticket size of Rs 50 lakh to Rs 1 crore, have recorded the lowest QTS level of 4.9 quarters, followed by luxury homes priced above Rs 1 crore, with a QTS level of 5.1 quarters.
Interestingly, the affordable segment, priced below Rs 50 lakh, has seen a rise in the QTS level to 8 quarters from 7.6 quarters earlier, depicting low demand. Despite a 27% year-on-year increase in unsold inventory in the Indian real estate market, the QTS has reduced in the first six months.
The luxury segment has continued to reduce QTS levels despite a high number of new projects, witnessing high traction in the last few quarters. Top developers have reported a jump in income and booking projections due to the demand for luxury homes.DLF reported a threefold jump in sales bookings to Rs 6,404 crore compared to Rs 2,040 crore last year, driven by its luxury project
Frequently Asked Questions
What is the current QTS level in the Indian real estate market?
The QTS level in India has reached a historic low of 5.9 quarters, less than 18 months, in the first six months of 2024.
Which segment has recorded the lowest QTS level?
The mid-segment homes, with a ticket size of Rs 50 lakh to Rs 1 crore, have recorded the lowest QTS level of 4.9 quarters.
What is driving the demand for luxury homes?
Homeowners are constantly looking to elevate their lifestyles, driving the demand for luxury homes.
Which company has reported a threefold jump in sales bookings?
DLF has reported a threefold jump in sales bookings to Rs 6,404 crore compared to Rs 2,040 crore last year.
What is the expected revenue from M3M's new luxury housing project?
M3M is expecting revenue of around Rs 4,000 crore from its new luxury housing project, 'M3M Altitude,' in Gurugram.
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