The Indian residential real estate sector is witnessing a strong resurgence, with top developers reporting impressive growth rates. According to a recent report by Axis Capital, the top 15 listed developers in India have achieved a remarkable compound annual growth rate (CAGR) of 43% in pre-sales from FY21 to FY24.
Key factors driving this growth include increasing demand, particularly in major cities like Mumbai, Delhi-NCR, Bengaluru, and Pune. As the Indian economy continues to strengthen and disposable incomes rise, the demand for quality housing has surged. Moreover, the government’s focus on affordable housing initiatives has further boosted the sector. To capitalize on this growing demand, leading developers have expanded their operations into new markets and launched premium projects. This strategic approach has enabled them to cater to a wider range of customers and tap into emerging opportunities.
The report also highlights the impact of the Real Estate (Regulation and Development) Act (RERA) on the sector. By providing a transparent and regulatory framework, RERA has instilled confidence among buyers and investors, leading to increased investments in the real estate market. The outlook for the Indian real estate sector remains positive. As the economy continues to recover from the pandemic and urbanization accelerates, the demand for housing is expected to remain robust. The sector is poised for further growth, driven by factors such as increasing disposable incomes, favorable government policies, and the emergence of new technologies.