India residential real estate market is expected to grow at a significant CAGR in the forecast period, FY2023-FY2027. The rapid urbanization of people in search of better job opportunities and quality living standards is creating the need to construct more residential spaces for comfortable living. Supportive government policies and schemes such as Pradhan Mantri Awas Yojna which is the scheme of the Union Ministry of Housing and Urban Affairs that aims to build the 20 million affordable houses in the urban areas is expected to contribute to the growth of the residential real estate market. The increase in the disposable income of middle-class families is increasing the affordability of consumers to buy houses and flats. The construction industry is witnessing a boost due to the presence of supportive policies for infrastructural development which in turn is expected to influence the residential real estate market growth. The presence of low mortgage rates and the offering of financial support from prominent institutions to increase the affordability of the consumers is accelerating the demand of the residential real estate market. The government is providing tax deductions on interest on the housing loan and tax holidays for affordable housing projects. Also, the application of real estate, 2016 in the state of Jammu and Kashmir has enabled the citizens to buy non-agricultural land and property which is expected to fuel the growth of the residential real estate market in the next five years.
India residential real estate market is segmented into type, category, mode, regional distribution, and company. Based on the mode, the market can be bifurcated into online & offline. The online segment is expected to witness the fastest incremental growth in the forecast period, FY2023-FY2027. Growing digitization across the country to increase transparency and speed up the process of house allocation is expected to pave the way for the growth of the online channels to buy and sell residential spaces to consumers.
The major players operating in the India residential real estate market are Sunteck Realty Ltd., Omaxe Ltd., Godrej Properties Ltd., Phoenix Mills Ltd., Oberoi Realty Ltd., Brigade Enterprises Ltd., NBCC India Ltd., Prestige Estates Projects Ltd., Indiabulls Real Estate Ltd., DLF Ltd., and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: FY2017-FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023–FY2027
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Objective of the Study:
- To analyze the historical growth of the market size of India residential real estate market from FY2017 to FY2020.
- To estimate and forecast the market size of India residential real estate market from FY2021 to FY2027 and growth rate until FY2027.
- To classify and forecast India residential real estate market based on type, category, mode, regional distribution, and company.
- To identify dominant region or segment in the India residential real estate market
- To identify drivers and challenges for India residential real estate market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India residential real estate market.
- To identify and analyze the profile of leading players operating in India residential real estate market.
- To identify key sustainable strategies adopted by market players in India residential real estate market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers and service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers and service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers and service providers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of India residential real estate market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
- Residential real estate manufacturing and service provider companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to residential real estate market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Press Release : https://www.techsciresearch.com/news/6501-india-residential-real-estate-market.html
Report Scope:
In this report, India residential real estate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Residential Real Estate Market, By Type:
-
- New Construction
- Resale
- India Residential Real Estate Market, By Category:
- Flats & Apartments
- Individual Houses or Private Dwellings
- Condominium
- Townhouses
- Others
- India Residential Real Estate Market, By Mode:
- Online
- Offline
- India Residential Real Estate Market, By Region:
- North
- South
- East
- West
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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