India's Top 15 Real Estate Developers See Market Share Double Over Five Years
At a recent FICCI real estate conference, Godrej Properties CEO Gaurav Pandey highlighted that the market share of the top 15 developers in India has doubled over the past five years, reaching nearly 20%. Pandey expects this trend to continue, driven by d
Real EstateMarket ShareDevelopersIndiaFicciReal Estate NewsFeb 11, 2025
Addressing the FICCI real estate conference in New Delhi, Pandey emphasized the challenges and opportunities in the housing sector.
At a pan-India level, a notable trend is emerging where corporate developers and the top 15 developers are increasing their market share.
Over the last five years, their market share has doubled to about 19%.
Pandey expects this trend to continue, particularly in the next three years, as market slowdowns often lead to demand aggregation.
2024 was a landmark year for the residential segment of the Indian real estate sector.
The demand reached an unprecedented 1 billion square feet, the highest ever recorded.
This translates to sales worth approximately Rs 8.5 lakh crore.
A significant portion of this demand, around 75%, is concentrated in the top five cities Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, and Pune.
Pandey also praised the recent budget for its positive impact on the real estate sector and the economy at large.
The government's tax cuts are expected to boost consumption demand, which will have a trickle-down effect on various sectors.
Residential real estate stands to benefit significantly as increased consumer confidence can lead to more people taking long-term loans to purchase properties.
The Reserve Bank of India's recent 25 basis points reduction in the repo rate has also been welcomed.
If inflation remains under control, there is a good possibility of further cuts ranging between 50 to 75 basis points.
This could have a substantial impact on the private capital expenditure cycle, not limited to just home loans.
Raj Menda, Chairman of the Supervisory Board at RMZ Corporation, shared insights on the Indian office market.
According to Menda, 2024 was a milestone year, marked by unprecedented absorption levels and a shift towards an occupier-driven market.
This momentum is expected to continue, with gross leasing projected at 65-70 million square feet in 2025.
The growth in the real estate sector is a testament to the increasing trust in corporate developers and the positive economic policies in place.
As the market continues to evolve, the focus will likely remain on large, branded builders who can provide quality and reliability to consumers.
Frequently Asked Questions
What is the current market share of the top 15 real estate developers in India?
The market share of the top 15 real estate developers in India has doubled over the past five years and currently stands at about 19%.
What were the highlights of 2024 for the Indian real estate sector?
In 2024, the Indian real estate sector, particularly the residential segment, saw demand reach an unprecedented 1 billion square feet, the highest ever recorded, translating to sales worth approximately Rs 8.5 lakh crore.
How does the government's recent budget impact the real estate sector?
The government's tax cuts are expected to boost consumption demand, which will have a trickle-down effect on various sectors, including residential real estate. Increased consumer confidence can lead to more people taking long-term loans to purchase properties.
What is the projection for the Indian office market in 2025?
The Indian office market is expected to continue its strong growth trajectory, with gross leasing projected at 65-70 million square feet in 2025.
What role does the Reserve Bank of India's repo rate reduction play in the real estate sector?
The Reserve Bank of India's recent 25 basis points reduction in the repo rate, and potential further cuts, can have a substantial impact on the private capital expenditure cycle, not limited to just home loans, thus benefiting the real estate sector.
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