India Residential Real Estate Market Size (2024 - 2029)

India Residential Real Estate Market Analysis

The India Residential Real Estate Market size is estimated at USD 227.26 billion in 2024, and is expected to reach USD 687.27 billion by 2029, growing at a CAGR of 24.77% during the forecast period (2024-2029).

• There is a massive demand for affordable housing in many parts of the country, propelled by rapid urbanization. There is also a significant increase in demand for luxury and big housing spaces due to the need for better lifestyles.
• One of India's most powerful economic foundations is real estate. Rapid urbanization, changing consumer behavior, regulatory reforms, and the pandemic's impact drive this pillar's evolution. The real estate industry has begun to recover after the pandemic. The year 2021 marked a significant turning point in India's residential real estate market. It was anticipated that the robust growth in the housing market would persist throughout 2022-2023, with sales projected to return to pre-pandemic levels.
• Implementing initiatives that generate demand and encourage people to buy real estate propels the market forward. Ready-to-move-in apartments have been in high demand among buyers in the residential category. In these circumstances, however, educating customers better and managing expectations is critical. The trends that have been observed are revolutionary. In India, the real estate industry is undergoing a technological transformation. Throughout the industry, several cutting-edge strategies and solutions are being implemented. The market's growth trajectory has accelerated due to these new developments.
• One of the most well-known developments in home automation exemplifies an excellent combination of technology and real estate. These venues have a huge potential to attract diverse investment opportunities and forward-thinking individuals. Due to long wait times and increasing project failures, under-construction properties gradually lose their allure. As a result, ready-to-move-in homes are gaining popularity. To align with this viewpoint, many builders have adopted the business strategy of building first and selling later. This popular European and American home concept makes inroads into India's real estate market.
• With the requirement that Real Estate Investment Trusts (REITs) have 80% of their underlying assets operational and income-generating, such properties have become a more viable investment option than traditional options. It is a low-risk method of diversifying one's investment portfolio. Even though the pandemic has strained rental cash flow, a strong and upward-trending long-term picture is anticipated. Property ownership is becoming more popular. Although this has aided in the formation of positive consumer sentiment toward residential real estate, the government's and banking industry's support got things going. The convergence of these two elements improved demand and supply metrics. After spending a significant amount of time working indoors, many homeowners have realized the importance of larger homes.

India Residential Real Estate Industry Segmentation

Residential real estate is an area developed for people to live in. As local zoning ordinances define, residential real estate cannot be used for commercial or industrial purposes. A complete background analysis of the Indian residential real estate market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, is included in the report.

The Indian residential real estate market is segmented by type (condominiums and apartments, villas, and landed houses). The report offers market size and forecasts in values (USD) for all the above segments.