Rental prices in 13 major Indian cities have surged by 16% year-on-year in the March quarter, according to a report by Magicbricks. Greater Noida witnessed the highest increase, with rents soaring by 32.1%. Gurugram and Bengaluru followed closely with growth rates of 24.5% and 23.7%, respectively. In Greater Noida, an emerging home to several techies and corporate employees, rents soared 32.1% while Gurugram and Bengaluru saw an increase of 24.5% and 23.7%, respectively.

India’s real estate sector is experiencing a paradigm shift and transforming the landscape in tier 2 and tier 3 cities. The picture recent projections present of real estate prospects in these emerging markets is highly promising. With a staggering housing demand of 93 million units forecasted by 2036, developers are increasingly turning their attention to tier 2 and tier 3 cities. Notable regions such as Chandigarh Tricity, Agra, Lucknow, Ujjain, Vrindavan and Hapur, among others, have emerged as focal points.

The residential market of the country continued its growth momentum even as it entered the new year 2024 with the first quarter sales clocking a robust 41 per cent increase year-on-year. It also saw around 1 lakh new housing units launched during Q1 2024 across the leading eight cities. Although a significant amount of pent-up supply was released during the first two years following the pandemic, the pace has somewhat slowed down, evident by a 30 percent decrease in new properties compared to the same period last year.

In a news that has brought cheers to the Indian realty market, Knight Frank and CII have reported that the sector will grow three-fold in the coming decade and is expected to reach USD 1.5 trillion by 2034, contributing 10.5% of the country’s total economic output, translating a phenomenal increase of 3.2%. At present, the sector’s contribution to the GDP is 7.3%. On a deeper data analysis, the report shows that the residential segment is expected to reach USD 906 billion by 2034. The contribution of the office segment, on the other hand, is expected to be USD 125 billion.

Japan is grappling with a significant challenge as the number of vacant homes, known as "akiya," has surged to a record high of nine million, which is more than the population of New York City. This alarming increase is largely attributed to the country's continuously declining population, presenting a unique set of problems for both urban and rural areas. According to Jeffrey Hall, a lecturer at Kanda University of International Studies in Chiba, "This is a symptom of Japan’s population decline.

Hangzhou, a major city in eastern China, removed all of its remaining homebuying curbs in the latest example of a local government pursuing aggressive easing to end the property crisis. The capital of Zhejiang province will remove all restrictions on residential property purchases and no longer review the qualifications of homebuyers, a statement on the local government’s website showed Thursday. Removing the restrictions placed in 2016 will enable the “stable and healthy development” of the real estate market, it said

In 2027, IGIA's Aerocity is set to boast India's largest mall of over 28 lakh sq feet, reports TOI's Saurabh Sinha. This expansion, costing $2.5 billion, is a step towards constructing India's initial aerotropolis, which is a city near an airport, expected to grow eightfold in the upcoming five years. By 2029, Aerocity, currently with 15 lakh square feet of leasable space, will expand to over 1 crore square feet.

Geetanjali Homestate, a real estate consulting and solutions supplier, has announced the launch of its brand leasing service. These solutions are aimed at revolutionizing the real estate landscape, offering unparalleled opportunities for businesses and investors alike. According to the company, its brand leasing represents a paradigm shift in property transactions. Instead of opting for traditional one-time sales, clients can now enter into long-term contracts with established brands, transforming their properties into reliable sources of income.

India's largest realty firm DLF has sold all 795 apartments for Rs 5,590 crore within three days of the launch of its new luxury housing project in Gurugram, driven by strong demand from consumers including NRIs. In a regulatory filing on Thursday, the company informed about the successful launch of its latest luxury residential project 'DLF Privana West', "achieving a remarkable sellout valued at approximately Rs 5,590 crores, within 3 days." The new project is spread over 12.57-acre comprising 795 apartments. The average selling price was around Rs 7 crore per apartment.

The political atmosphere in India has a big impact on the property market, just like it does in other countries – especially during general election seasons. Election cycles have had a discernible impact on the real estate market over the last twelve years. What should end users and investors expect after the forthcoming general elections? Let’s examine the behavior of the Indian housing market before and after general elections. Trends ahead of the election In the past, we have seen that the Indian real estate market tends to slow down in the run-up to general elections.