India's Real Estate Sales Forecasted to Surge by 8-10% in FY25

25 Apr 2024 CW Team

The Indian real estate sector is anticipated to witness a significant surge in sales, with a projected growth of 8-10% in the fiscal year 2024-25, according to a report by India Ratings and Research (Ind-Ra). This forecast comes amidst the backdrop of various factors such as government initiatives, improving consumer sentiment, and economic recovery.

The report suggests that the residential segment is likely to be the primary driver of this growth, buoyed by increased demand for housing. Additionally, the commercial real estate sector is expected to witness a gradual recovery, supported by the revival of business activities and investments.

Furthermore, the affordability of housing, aided by low-interest rates and government incentives, is expected to bolster demand in the real estate market. The report highlights the role of regulatory reforms and policy support in fostering a conducive environment for the sector's growth.

However, challenges such as rising construction costs and supply chain disruptions could pose hurdles to the sector's expansion. Therefore, developers are urged to adopt innovative strategies and efficient project management practices to navigate these challenges effectively.

Overall, the outlook for India's real estate market appears optimistic, with sustained growth expected in the coming fiscal year. This projected expansion underscores the resilience and potential of the sector to contribute to the country's economic development.

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