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
Related News Articles
MahaRERA Cracks Down on 628 Housing Projects for Non-Compliance with Registration Rules
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken action against 628 housing projects across the state for failing to display their registration number and QR code in advertising materials.
Pune Real Estate Firm Falls Victim to Rs 24 Lakh Cyber Fraud
An employee from the accounts department of a Pune-based real estate firm was tricked into transferring Rs 24 lakh to fraudulent accounts after receiving a message from someone posing as the company director’s father. The incident highlights the increasin
MahaRERA Recovers Rs 200 Crore for Homebuyers from Real Estate Developers
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has successfully recovered over Rs 200 crore from real estate developers to compensate homebuyers for their losses. The efforts include issuing warrants and appointing retired officials to ensure
Amitabh Bachchan Sells Oshiwara Duplex for ₹83 Crore, Making a 168% Profit
The property, located in The Atlantis by Crystal Group, was officially registered in January 2025. This high-profile sale was confirmed through various real estate sources and media reports.
Mother's Desperate Plea for Reunification: Manju Lodha to Billionaire Sons Abhishek and Abhinandan
In a heart-wrenching appeal, Manju Lodha, mother of billionaire brothers Abhishek and Abhinandan, pleads for their return and unity. The Lodha family, known for their significant contributions to the real estate sector, is facing a crisis that has capture
Trump World Centre: India's First Trump-Branded Office Project in Pune
The Trump Organisation is set to make its debut in India's commercial real estate market with the launch of Trump World Center Pune, a Rs 1,700 crore premium office project. Here’s everything you need to know about this ambitious venture.