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.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora