devdiscourse.com-Indian Real Estate Boom: Record Growth in Major Cities
The Indian residential real estate sector is experiencing a remarkable increase, with pre-sales reaching Rs 1.2 trillion, marking a 43% compound annual growth rate (CAGR) from FY21 to FY24, according to a report by Axis Capital. The growth is majorly fueled by rising absorption rates and a focus on expanding project launches across both major and emerging markets.
The report highlights that the surge, largely concentrated between FY21 and FY24, attributes 80% of growth to established markets, especially in the top seven cities, which saw a 41% growth in value. Developers have scaled operations within established markets, prompting substantial growth, while simultaneously building pipelines outside of their traditional strongholds.
