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Report
Real Estate Industry In India - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The Indian real estate market is expected to register a CAGR of 9% during the forecast period of 2023 to 2028.
Key Highlights
In India, the real estate area is the second-most noteworthy employment generator after the agribusiness area. It is likewise expected that this area will cause more non-resident Indian (NRI) investment, both for the time being and in the long haul. Bengaluru is supposed to be the most preferred property investment destination for NRIs, trailed by Ahmedabad, Pune, Chennai, Goa, Delhi, and Dehradun.
Interest in residential properties has flooded because of expanded urbanization and rising family pay. India is among the price-appreciating housing markets internationally.
In the first quarter of 2022, the gross leasing volume of India's top seven office markets was at 11.55 million sq. ft. Between July 2021-September 2021, a total of 55,907 new housing units were sold in the eight micro markets in India (59% YoY growth).
India Real Estate Market Trends
Increase in Investments
Indian real estate area has seen high development in recent times with growing demand for office and residential spaces. Institutional interests in the Indian real estate area are supposed to increase by 4% to arrive at INR 36,500 crore (USD 5 billion) in 2021, driven by rising revenue of financial backers towards catching appealing valuations in the midst of the pandemic. Confidential value interests in Indian real estate arrived at USD 2.9 billion in the first half of 2021, which was a >2x increment from the first half of 2020.
In July 2021, the Securities and Exchange Board of India brought down the base application incentive for Real Estate Venture Trusts from INR 50,000 (USD 685.28) to INR 10,000-15,000 (USD 137.06 - USD 205.59) to make the market more available to small and retail investors.
Construction is the third-largest sector in terms of FDI inflow. FDI in the sector (including construction development & activities) stood at USD 54.86 billion from April 2000-June 2022.
Increase in Office Space Absorption
Gross Leasing Volume (GLV) for Jan-September 2022 is higher by 88% and 13% over similar periods in 2021 and 2020, denoting the first full 9 months which were moderately COVID-free and the numbers are indicative of the versatility of the Indian office markets. Delhi NCR and Bengaluru are the two greatest office markets as far as Jan-Sep 2022 gross renting action followed by Mumbai. These three business sectors represent more than 66% portion of occupier movement in the initial 9 months of the 2022. On a sequential basis, GLV was down 25% as Mumbai and Delhi NCR drove the gross leasing numbers for Q3 2022 representing 26% and 23% offer, respectively.
The net absorption for the initial nine months of 2022 (Jan-Sep 2022) is at a three-year high of 30.3 mn sq ft, upheld by strong supply completion with sound pre-responsibilities. On a q-o-q premise too, net absorption for the July-Sep quarter was up by 11% and recorded at 9.86 millionn sq ft. As a matter of fact, the Jan-Sep 2022 net absorption is likewise 90% of the relating number for 2019, the pre-Covid year which likewise recorded the most noteworthy at any point net absorption for the entire year.
India Real Estate Market Competitor Analysis
India's real estate market is highly fragmented, with multiple players operating in the market. Higher competition among market players is impacting selling prices and land prices, further leading to oversupply in the market. Furthermore, the market is dominated by a few pan-India branded players and multiple local players. Some of the major developers in the country are Prestige Estates Projects, DLF, Prestige Group, Lodha Group, Oberoi Realty, etc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Current Market Scenario
4.2 Government Regulations and Initiatives
4.3 Insights into Size of Real Estate Lending and Loan to Value Trends
4.4 Insights into Rental Yields in Residential Real Estate Segment
4.5 Insights into Technological Trends in the Market
4.6 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Porter's Five Forces Analysis
5.5 Supply Chain/Value Chain Analysis
6 MARKET SEGMENTATION
6.1 By Property Type
6.1.1 Residential
6.1.2 Office
6.1.3 Retail
6.1.4 Hospitality
6.1.5 Industrial
6.2 By Key States
6.2.1 Delhi
6.2.2 Maharashtra
6.2.3 Karnataka
6.2.4 Punjab
6.2.5 Rest of India
7 COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 Godrej Properties
7.2.2 Prestige Estates Projects Ltd
7.2.3 Oberoi Realty Limited
7.2.4 DLF
7.2.5 SOBHA Limited
7.2.6 Lodha Group
7.2.7 Jaypee Infratech Ltd
7.2.8 PNC Infratech Limited
7.2.9 Merlin Group
7.2.10 Sunteck Realty
7.2.11 Brigade Enterprises Ltd
7.2.12 Experion Developers Private Limited*
8 MAJOR ONGOING AND UPCOMING INFRASTRUCTURE PROJECTS
9 FUTURE OF THE INDIA REAL ESTATE MARKET
10 APPENDIX
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