Increasing absorption rates and a focus on higher launches across major and emerging markets have propelled this growth in the sector.
Between FY 21 and FY 24, developers scaled in their established market, which induced a large part of the growth observed, said the report.
About 80 per cent of this growth was attributed to existing markets, marking a 36 per cent CAGR, with demand particularly robust in the top seven cities, which saw a 41 per cent growth in value.
"As demand momentum picked up, most of the companies initially focused on scaling up in their existing markets and simultaneously building a pipeline outside of their home market," the report said.
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