Indian Real Estate Market Sees Strong Recovery and Growth in Q3 CY24
PropeEquity's Q3 CY24 report highlights a robust recovery in the Indian real estate market, driven by increased demand and investment activity.
Indian Real Estate MarketQ3 Cy24 ReportPropeequityReal Estate TrendsProperty TransactionsReal Estate NewsSep 20, 2024
The report indicates a year-on-year growth in property transactions, reflecting renewed consumer confidence and a surge in homebuyer inquiries. Key metropolitan areas, particularly Bengaluru, Mumbai, and Delhi NCR, continue to lead in sales, fueled by attractive financing options and ongoing infrastructure projects.
Additionally, the report emphasizes the growing interest in commercial real estate, particularly in the office and retail segments, as companies embrace hybrid work models and seek modern, flexible spaces. Investment in affordable housing remains strong, supported by government initiatives aimed at promoting home ownership.
Overall, PropeEquity’s Q3 findings underscore a positive outlook for the real estate sector, with expectations for sustained growth as the market adapts to changing consumer preferences and economic conditions.
Industry experts also shared their insights on the current market trends. Mr. Sanju Bhadana, MD, 4S Developers, said, “In the past couple of years, the NCR market has seen tremendous growth in infrastructure development. The result of which is evident from the rising investment from both private equity players and homebuyers.”
Shiwang Suraj, Founder & Director of Gurugram-based property consulting firm InfraMantra, added, “The real estate market has traditionally been slow in the third quarter with developers holding up their launches for the festive quarter. However, NCR market has defied this trend.”
Sunil Pareek, Executive Director, Assetz Property Group, noted, “Statistically, while Q3 shows a mixed outlook in India with a dip in sales and new launches esp in South, this is primarily due to inventory constraints and not a result of reducing demand.”
Vijay Harsh Jha, founder and CEO of property brokerage firm VS Realtors, said, “The NCR market has been performing exceptionally well defying the all-India trend. The sense from the market is that developers are on a wait mode. With the expectation of strong demand due to the auspicious nature of the months, developers are offering homebuyers incentives and offers to induce a purchase.”
About PropeEquity PropeEquity is a leading real estate research and analytics firm that provides comprehensive insights and data-driven solutions to stakeholders in the Indian real estate market.
About 4S Developers 4S Developers is a renowned real estate development company with a strong presence in the Delhi NCR region.
About InfraMantra InfraMantra is a property consulting firm based in Gurugram, providing expert advice and services to homebuyers and developers.
About Assetz Property Group Assetz Property Group is a real estate development company with a strong presence in Bengaluru and other key cities in India.
About VS Realtors VS Realtors is a property brokerage firm with a strong presence in the Delhi NCR region, providing expert services to homebuyers and sellers.
Frequently Asked Questions
What is the current trend in the Indian real estate market?
The Indian real estate market is seeing a strong recovery and growth in Q3 CY24, driven by increased demand and investment activity.
Which cities are leading in sales in the Indian real estate market?
Key metropolitan areas, particularly Bengaluru, Mumbai, and Delhi NCR, continue to lead in sales, fueled by attractive financing options and ongoing infrastructure projects.
What is the outlook for the real estate sector in India?
PropeEquity’s Q3 findings underscore a positive outlook for the real estate sector, with expectations for sustained growth as the market adapts to changing consumer preferences and economic conditions.
What is driving the growth in commercial real estate in India?
The growing interest in commercial real estate is driven by companies embracing hybrid work models and seeking modern, flexible spaces.
What is the status of affordable housing in India?
Investment in affordable housing remains strong, supported by government initiatives aimed at promoting home ownership.
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