India's Residential Real Estate Segment to Witness 5-6% Growth in Average Sale Price by FY25
ICRA expects 10-12% increase in area sold in top 7 cities; luxury home launches drive growth in average sale price
Residential Real EstateIcraAverage Sale PriceLuxury HomesReal Estate DevelopersReal Estate PuneAug 07, 2024
These seven cities include Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai. ICRA said in a statement that the overall sales velocity, collections, and inventory position are estimated to remain healthy, despite the moderation in the sales growth rate.
The launches are expected to rise by 12% year-on-year (YoY) to 767 million square feet this fiscal. Anupama Reddy, Co-Group Head & Vice President - Corporate Ratings, ICRA, said, \
Frequently Asked Questions
What is the expected growth in average sale price in the residential segment?
5-6% growth in average sale price in the residential segment by FY25
What is driving the growth in average sale price?
A change in the product mix with a higher share of luxury units and pricing flexibility arising out of healthy sales and the resultant lower inventory overhang
What is the expected increase in area sold in the top 7 cities?
10-12% increase in area sold in the top 7 cities to 785-800 million square feet in 2024-25
Which cities are expected to witness the growth in area sold?
Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai
What is the outlook on the residential real estate sector?
The outlook on the residential real estate sector is stable
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