According to a press release, the Indian residential real estate sector has experienced remarkable growth in 2024, driven by its resilience and adaptability to changing market dynamics. This year has been pivotal, with the sector aligning with evolving consumer expectations by incorporating sustainability, technology, and premium living standards.
According to Rakesh Reddy, Director, Aparna Constructions, “The Indian real estate sector is witnessing a transformative phase, driven by sustained demand and favorable government policies.”
The sector has seen a surge in luxury housing demand, with luxury home sales recording a 37.8% growth between January and September 2024. This growth is driven by affluent buyers, including Non-Resident Indians (NRIs), seeking properties that emphasize wellness-oriented amenities, expansive layouts, and private outdoor spaces.
South India’s real estate market has shown exceptional growth in 2024, with Tier 1 cities such as Hyderabad, Bengaluru, and Chennai attracting substantial investments across residential, commercial, and industrial segments. Hyderabad has emerged as a prominent real estate hub, with a 10% compound annual growth rate (CAGR) in residential launches.
The Indian real estate sector is poised for sustained growth, with a projected compound annual growth rate (CAGR) of 10% in volumes over the next 3-5 years. The sector is expected to grow by 25% in 2025, fueled by strong consumer demand and favorable government policies.
