Residential Demand News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The residential real estate sector is projected to maintain stable absorption and prices in FY25, supported by favorable affordability and stable interest rates. Despite the likelihood of a slowdown compared to the high base of FY24, significant growth was recorded in 9MFY24, with sales growth exceeding 25% y-o-y for the top eight real estate clusters. India Ratings and Research (Ind-Ra) has a neutral outlook for FY25, expecting pre-sales growth to moderate to 8%-10% y-o-y. Inventory levels have risen in the premium and luxury segments, with a 5% expected growth in property prices for FY25.

In 2023-24, developers and entities finalised 101 land deals totaling 2,989 acres in India, driven by high residential demand. Major deals occurred in top cities, with tier 2 and 3 cities also showing growth potential. Notable increases were seen in residential, plotted development, and township projects, reflecting a buoyant market.

The report, which analysed the preferences of over 20 million customers across 13 prominent cities, noted significant quarter-over-quarter increase in search volumes for Greater Noida (38.9%), Noida (20.4%), Kolkata (13.6%), and Bengaluru (13.5%), signalling ongoing demand for homes in these areas.

The area, also known as Greater Noida West, is gaining popularity because of affordable units, proximity to economic hubs and wide roads.