India s real estate market is poised for growth across categories - residential, commercial, and rental.
Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months.
Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. We expect housing industry demand to grow around 12 per cent in 2024 and for large developers to outpace industry to grow at 15 - 20 per cent.
Buying one s dream home requires planning, funds, and these days, putting on an AI-enabled virtual reality (VR) headset.
Realtors are increasingly providing customers an immersive experience, courtesy generative artificial intelligence (GenAI), mixed reality, and metaverse.
For realty consultancy Anarock group, AI and machine learning (ML) are enabling predictive market analysis, facilitating virtual property tours, and improving property management through predictive maintenance.
The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock.
Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country s leading large and listed developers to reduce their debt.
Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate.
The BSE Realty index-a gauge of real estate stocks-rose 4.2 per cent on Monday, extending its two-day advance to 7.8 per cent.
The latest gains came on the back of robust sales posted by realty developers in the March quarter of financial year 2022-23 (Q4FY23).
On Thursday, the rate-sensitive index had gained 2.9 per cent following the Reserve Bank of India s decision to pause interest rate hikes in its latest monetary policy review.