Indian Real Estate Market Sees Significant Shift: House Selling Time Slashed by 31%
India's residential real estate market is undergoing a major transformation, with house selling time reduced by 31% in 2024 compared to 2019.
Indian Real Estate MarketHouse Selling TimeResidential PropertyJll ReportReal Estate IndustryReal Estate NewsJun 06, 2024
This drastic reduction in house selling time is attributed to various factors, including increased demand, improved infrastructure, and a more streamlined regulatory environment. The report highlights that the average time to sell a residential property in India has come down to just 22 months, a significant decline from the 32 months recorded in 2019.
The reduction in house selling time is expected to have a positive impact on the overall real estate market in India. It is likely to boost buyer confidence, increase demand, and lead to a more vibrant and dynamic market. Furthermore, the reduced selling time is also expected to lead to increased liquidity, making it easier for homeowners to sell their properties and invest in new ones.
The JLL report also highlights the role of technology in reducing house selling time. With the increased use of digital platforms and online marketplaces, buyers and sellers are now more connected than ever before. This has led to faster discovery, better price realization, and a more efficient transaction process.
Real estate is a significant contributor to India's GDP, and the residential segment is a major driver of growth in the industry. The Indian real estate market has been growing steadily over the years, driven by factors such as urbanization, increasing income levels, and government initiatives.
About JLL Jones Lang LaSalle Incorporated, commonly known as JLL, is a leading global real estate services company specializing in commercial property and investment management. With operations in over 80 countries, JLL provides a range of services, including property and facility management, project management, and investment advisory services.
Frequently Asked Questions
What is the current average time to sell a residential property in India?
According to the JLL report, the average time to sell a residential property in India is 22 months.
What is the percentage reduction in house selling time in 2024 compared to 2019?
The house selling time has reduced by 31% in 2024 compared to 2019.
What are the factors contributing to the reduction in house selling time in India?
The factors contributing to the reduction in house selling time include increased demand, improved infrastructure, and a more streamlined regulatory environment.
How is technology impacting the Indian real estate market?
Technology is playing a significant role in reducing house selling time by increasing connectivity between buyers and sellers, leading to faster discovery and better price realization.
What is the significance of the real estate industry in India's economy?
The real estate industry is a significant contributor to India's GDP, and the residential segment is a major driver of growth in the industry.
Related News Articles
Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws
The registration department is investigating 796 property registration documents for non-compliance with real estate regulations, sparking concerns among developers and buyers.
Maharashtra Weather Alert: Heavy Rainfall Expected in Mumbai, Pune, and Other Districts
IMD issues yellow alert for Mumbai, red alert for Palghar and Pune; heavy to very heavy rainfall expected in the next 24 hours
Nagpur Townships Inspected by State-Appointed Panel, Issues Persist
A state-appointed panel inspected several townships in Nagpur, Maharashtra, but issues related to water supply, irrigation clearance, and inspection delays remain unresolved.
Indore Sees 12.8% Rise in Property Revenue During Festive October
The city of Indore recorded a significant 12.8% increase in property revenue during the festive season in October. According to Balkrishna More, the Deputy Inspector General of Registration for the Indore region, the surge in real estate activity can be a
Arvind Gurumurthy: A Renowned Legal Expert in M&A, Private Equity, and Corporate Law
Arvind Gurumurthy, a distinguished legal professional, has made significant contributions in the fields of M&A, private equity, and corporate law. With a successful seven-year tenure as Partner at Kochhar & Company, Arvind has extensive experience in hand
Arthur Laffer Buys $87,156 in NexPoint Diversified Real Estate Trust Stock: A Bullish Signal?
Arthur Laffer, the director of NexPoint Diversified Real Estate Trust (NXDT), has made a significant purchase of $87,156 in company stock. This move could signal his confidence in the company's future performance. Investors should consider this as a potential indicator of a bullish market play.