Summary:

The luxury and ultra-luxury residential markets are expected to expand in FY25, driven by highnet-worth individuals (HNIs) and non-resident Indians (NRIs). Demand for premium properties, such as planned projects, villas, and vacation homes, will remain strong. With housing prices expected to rise by 11% in FY24, developers will shift their strategy, focusing on ready-to-move-in homes from reputable developers to stabilize the residential market, particularly in the affordable housing segment.

The real estate market in Tier-II and Tier-III cities will grow rapidly due to infrastructure development, tourism, and job creation. Established developers entering these markets will boost property values in cities like Amritsar, Ayodhya, and Tirupati. The Build-to-Rent market is expanding, offering modern living spaces. The senior living industry is expected to reach US$ 10-12 billion by FY30, fueled by an aging population. Smart and sustainable homes are becoming increasingly popular.

Source: IBEF

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