The residential real estate market in India's nine leading cities recorded a modest 9% decline in sales, reaching 470,899 units in 2024, while new supply dropped by 15% to 411,022 units, as per a report by NSE-listed real estate data analytics firm PropEquity. This slowdown was attributed to two quarters of subdued activity caused by the General Elections and Monsoon.
Flexible office space providers are bullish on demand for managed workspace during 2025 as corporates look for agile and cost-effective solutions to reduce overheads.
Many flexible workspace operators are expected to hit capital markets this year to raise funds for the expansion of their businesses.
The overall gross leasing of office spaces across major seven cities hit an all-time high in 2024.
The residential real estate market in India's nine leading cities recorded a modest 9% decline in sales, reaching 470,899 units in 2024, while new supply dropped by 15% to 411,022 units, as per a report by NSE-listed real estate data analytics firm PropEquity. This slowdown was attributed to two quarters of subdued activity caused by the General Elections and Monsoon.
India’s real estate (RE) sector has long been one of the key drivers of economic growth, contributing 7 per cent to the nation’s GDP. The sector’s performance in 2024 has been strong with both residential and commercial RE segments showing notable growth. For instance, India’s housing market has seen a 60 per cent growth since 2019, with premium housing driving much of this demand.
The Enemy Property Act is once again in the news, with Bollywood actor Saif Ali Khan’s ancestral properties, valued at nearly Rs 15,000 crore, facing uncertainty.
Properties in question inherited by Khan and his family include the Noor-Us-Sabah Palace and Flag Staff House in Bhopal. If no appeal is filed before the Custodian of Enemy Property, these assets may come under government control.
In 2024, land acquisition in India has shown remarkable resilience despite rising prices. The National Capital Region (NCR) and the Mumbai Metropolitan Region (MMR) have emerged as the key players in this ongoing trend. Data from ANAROCK reveals that NCR recorded 38 land deals covering over 417 acres, a significant increase from 22 deals for 190 acres in 2023. This surge indicates a strong demand for residential and commercial properties, driven by a robust homebuyer interest.
Soli Pochkhanawalla, who hails from Lucknow, recently celebrated his 90th birthday at a senior living housing complex in Bengaluru where he's been residing for the last three years.
"Surrounded by love, care, and newfound friendships, I discovered a community that embraced me wholeheartedly. It became a source of immense joy," he says.
Several real estate developers have launched senior living projects nationwide, especially in South Indian cities such as Trichy, Coimbatore, Kochi, Bengaluru, Chennai and Hyderabad.
Nagpur, Jaipur and Lucknow are the top three performers among the 30 cities assessed on parameters such as physical infrastructure, social infrastructure, demographics, and economic factors, according to Colliers, a real estate consultancy firm.
Sudarshan Kapoor has been working in Bengaluru's IT sector for the last four years. Only last year did he finally decide to invest in a villa near the eastern IT corridor of Whitefield.
"I paid about ₹3.5 crore for a duplex villa project of about 1800 sq ft. This is my first investment in real estate, and I have always wanted to go for a villa project due to the address it provided and the luxury amenities that come with it," he said.
The Indian residential real estate market has grown to a 12-year high, with housing sales rising by 7% in 2024 over the previous year. Demand for luxury homes, especially in metro cities like Delhi NCR, Mumbai, and Bengaluru, has been one of the key drivers of growth. Luxury homes worth over Rs 1 crore comprised 46% of the total transactions in the past half-year. A report by Knight Frank has recently concluded, signifying an unambiguous shift in preference among buyers.
