WHAT A YEAR it has been for India’s housing sector! Projections are suggesting a remarkable ten-year high in terms of both sales and new launches, and potentially surpassing the 300,000-unit milestone. What’s even more thrilling is that this trend is expected to persist in 2024.
Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa - CBRE, attributes this shift to evolving homebuyer preferences. “Affordability will no longer be the sole decisive factor for homebuyers as health and safety, community living, sustainability, and integration of smart home technologies have also started to emerge as key factors in home purchase decisions,” says Magazine.
He states that the demand for projects in the mid and budget/affordable category (Rs 45 lakh to Rs 1 crore) is projected to remain strong, aligning with the trends of the past couple of years. “We also expect projects in the premium and luxury segments (Rs 2-4 crore and above) to continue experiencing healthy growth,” he adds.
As per ANAROCK Property Consultants, the residential sector surpassed all previous highs in 2023 with sales creating a new peak every quarter. Even before Q4 2023 sales numbers are collated, the strong sales momentum indicates that the total value of homes sold in 2023 will cross the Rs 4.5 lakh croremark, which will be 38 per cent more than the total sales value of Rs 3.27 lakh crore clocked in 2022, it says.
Denne historien er fra January 13, 2024-utgaven av BW Businessworld.
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Denne historien er fra January 13, 2024-utgaven av BW Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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THE Hon'ble Finance Minister made history in July 2024 by presenting her seventh budget, surpassing the record previously held by Morarji Desai. Beyond this historic milestone, the budget stood out for its trans-formative measures aimed at fostering India's entrepreneurial ecosystem.
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"THE DELHI MODEL OFFERS THE SUREST ROAD MAP TO BUILDING A DEVELOPED INDIA"
JASMINE SHAH, then vice-chairman of the Delhi government think-tank, the Dialogue and Development Commission, conceived the idea of writing a book about the Delhi Model of governance while Aam Admi Party (AAP) convenor and Delhi's former chief minister Arvind Kejriwal and his former deputy chief minister Manish Sisodia were both at Tihar Jail for the alleged liquor scam in the state. By the time The Delhi Model – A Bold Road Map to Building a Developed India was released, campaigning for the Delhi legislative assembly elections were in full swing. The AAP leader though, stole some time out to discuss the book with BW Businessworld 's Madhumita Chakraborty. Excerpts:
