Top 15 Developers' Market Share Doubles in 5 Years: Godrej Properties CEO
Godrej Properties CEO, Gaurav Pandey, highlighted that the market share of the top 15 developers has doubled to nearly 20% in the last five years. The residential real estate sector witnessed record demand and sales value in 2024.
Real EstateMarket ShareGodrej PropertiesResidential SectorEconomic GrowthReal Estate MumbaiFeb 11, 2025
According to Pandey, the market share of the top 15 developers has doubled over the last five years, reaching nearly 20%.
This trend suggests a growing consolidation of demand towards larger, more reputable developers, especially in the face of potential market slowdowns.
Pandey emphasized that the residential real estate sector experienced unprecedented growth in 2024.
The year saw a record-breaking demand of about 1 billion square feet, which is the highest ever recorded.
This surge in demand translates to sales valued at approximately Rs 8.5 lakh crore.
A significant portion of this demand—about 75%—is concentrated in the top five cities of India Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, and Pune.
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Frequently Asked Questions
What is the current market share of the top 15 developers in the Indian real estate sector?
The market share of the top 15 developers in the Indian real estate sector has nearly doubled over the last five years, reaching about 19%.
What was the record demand in the residential real estate sector in 2024?
In 2024, the residential real estate sector in India saw a record demand of about 1 billion square feet, which is the highest ever recorded.
What cities are driving the majority of the demand in the residential real estate sector?
Approximately 75% of the demand in the residential real estate sector is concentrated in the top five cities: Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad, and Pune.
How does the government's tax cut impact the real estate sector?
The government's tax cut is expected to boost consumption demand, which will have a positive trickle-down effect on the real estate sector, making people more confident to take long-term loans for property purchases.
What is the projected leasing for the Indian office market in 2025?
The Indian office market is projected to see gross leasing of 65-70 million square feet in 2025, continuing the momentum from the record-breaking demand in recent years.
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