India's Real Estate Market: A Growth Trajectory Across Segments
India's real estate market is poised for growth across residential
Real EstateIndiaGrowthResidentialCommercialRentalDigitisationSustainabilityMillennialsReal EstateMay 31, 2024
Digitisation, sustainability initiatives, and the evolving spending patterns of millennials are the key factors shaping the sector's trajectory. In the residential domain, a resurgence post-pandemic is evident, characterised by robust market demand buoyed by both buyer confidence and favourable economic conditions.
Developers are now focusing on creating sustainable and smart homes, incorporating features like energy-efficient systems, green roofs, and advanced security systems. This shift towards sustainable living is expected to drive growth in the residential segment.
In the commercial space, the rise of coworking and shared office spaces is transforming the way businesses operate. This trend is expected to continue, driven by the growing demand for flexible and collaborative workspaces.
Rental housing is another area that is witnessing significant growth, driven by the increasing popularity of rental accommodations among millennials. The government's decision to offer tax benefits to developers who invest in affordable housing projects is expected to provide a further boost to this segment.
The Indian real estate market has witnessed significant growth in recent years, driven by a combination of factors including government initiatives, changing demographics, and evolving consumer preferences.
The Confederation of Real Estate Developers Associations of India (Credai) is a premier trade association that represents the interests of real estate developers across India. With a membership base of over 12,000 developers, Credai is committed to promoting transparency, accountability, and sustainability in the real estate sector.
Frequently Asked Questions
What is the current value of India's real estate market?
Rs 24 trillion or about $300 billion
What is the projected growth of India's real estate market by 2034?
$1 3 trillion
What are the key factors driving growth in India's real estate market?
Digitisation sustainability initiatives and the evolving spending patterns of millennials
What is driving growth in the residential segment of India's real estate market?
The shift towards sustainable living and the increasing demand for smart homes
What is driving growth in the rental housing segment of India's real estate market?
The increasing popularity of rental accommodations among millennials and the government's decision to offer tax benefits to developers who invest in affordable housing projects
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