India's Secondary Real Estate Market Expands to 43% by FY25: Square Yards
The secondary real estate market in India has seen significant growth, with its share expected to rise from 38% pre-pandemic to 43% by FY25, according to Square Yards.
Real EstateSecondary MarketSquare YardsReraIbcReal Estate MumbaiApr 27, 2025
The growth in the secondary real estate market can be attributed to several factors. Firstly, the economic slowdown and the pandemic have led many buyers to prefer ready-to-move-in properties over new constructions. This trend has been further bolstered by the availability of more affordable options and the reduced risk associated with purchasing existing properties.
Additionally, the secondary market offers a wider range of choices, including different types of properties such as apartments, independent houses, and commercial spaces. This diversity caters to the varying needs and preferences of buyers, making it an attractive option for both investors and end-users.
The real estate industry has also benefited from government initiatives aimed at boosting the housing sector. Policies such as the Real Estate (Regulation and Development) Act (RERA) and the Insolvency and Bankruptcy Code (IBC) have brought about transparency and accountability, thereby increasing buyer confidence. These measures have played a crucial role in driving the growth of the secondary market.
Square Yards, which has been at the forefront of this trend, has seen a surge in demand for secondary properties on its platform. The company has been leveraging technology to provide a seamless buying experience, with features like virtual tours and online transactions. This has made it easier for buyers to explore and purchase properties from the comfort of their homes.
In a statement, the CEO of Square Yards, Saurabh Agarwal, highlighted the significance of the secondary market. 'The increase in the share of the secondary market is a clear indication of the changing dynamics in the real estate sector. We are committed to providing innovative solutions to meet the evolving needs of our customers,' he said.
The growth of the secondary market also has broader implications for the Indian economy. It is expected to boost the overall real estate market and contribute to the country's GDP. With the increased activity in the secondary segment, there is likely to be a positive impact on related sectors such as construction, finance, and infrastructure.
However, the market is not without its challenges. Issues such as the availability of finance, regulatory compliance, and the need for better infrastructure in certain areas continue to pose hurdles. Addressing these challenges will be crucial for the sustained growth of the secondary real estate market.
In conclusion, the growth of the secondary real estate market in India is a positive trend that reflects the evolving preferences of buyers and the ongoing efforts to improve the sector. With the support of technology and government policies, the future of the secondary market looks promising, offering exciting opportunities for both investors and end-users.
Frequently Asked Questions
What is the secondary real estate market?
The secondary real estate market refers to the segment where existing properties, such as ready-to-move-in homes and commercial spaces, are bought and sold. This market is distinct from the primary market, which deals with new constructions and developments.
What factors are driving the growth of the secondary real estate market in India?
The growth of the secondary real estate market in India is driven by factors such as the preference for ready-to-move-in properties, the availability of affordable options, reduced risk, and government initiatives like RERA and IBC that have increased transparency and buyer confidence.
What role does Square Yards play in the secondary real estate market?
Square Yards is a leading online real estate platform that has been at the forefront of the secondary market growth. The company provides innovative solutions and a seamless buying experience through features like virtual tours and online transactions, making it easier for buyers to explore and purchase properties.
How does the growth of the secondary market impact the Indian economy?
The growth of the secondary real estate market is expected to boost the overall real estate sector and contribute to India's GDP. Increased activity in the secondary market can positively impact related sectors such as construction, finance, and infrastructure.
What challenges does the secondary real estate market face?
The secondary real estate market faces challenges such as the availability of finance, regulatory compliance, and the need for better infrastructure in certain areas. Addressing these issues is crucial for the sustained growth of the market.
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