The Indian real estate sector witnessed a significant growth trajectory in 2024, driven by a surge in demand for luxury housing, green projects, and rising interest across cities. According to a recent report by Knight Frank, the first half of 2024 saw homes priced at Rs 1 crore (โน10 million) and above representing 41% of the total sales, infusing new energy into the market.
The sector also witnessed exceptional growth in Tier 2 and Tier 3 cities, largely due to infrastructure development transforming these areas into investment hotspots. Knight Frank India reported a 62% rise in residential property prices and a 12% increase in demand for commercial properties in these regions during Q3 2024.
Developers and experts are optimistic about 2025, anticipating a strong year ahead driven by positive market sentiments and favorable economic conditions. The luxury housing segment is expected to continue its upward trajectory, with Delhi-NCR emerging as one of the top-performing markets amongst key cities.
Industry leaders shared their insights on the sector’s performance and future prospects. Yukti Nagpal, Director, Gulshan Group, highlighted the growth of the luxury housing segment, while Mohit Goel, Managing Director, Omaxe Group, emphasized the importance of infrastructure upgrades and rising disposable income in driving the sector’s growth.
Other industry experts, including Sandeep Chhillar, Founder and Chairman, Landmark Group, Piyush Kansal, Executive Director of Royale Estate Group, Ravinder Choudhary, Vice President of Vegas Mall, Ashwani Kumar, Pyramid Infratech, and Ambika Saxena, Director, Corporate Communications, Bayside Corporation, shared their perspectives on the sector’s future prospects and the evolving preferences of luxury homebuyers.
