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India Realty Market, By Property Type (Residential, Commercial, Industrial, Retail, Hospitality); By Location (Tier 1, Tier 2 & 3 Cities, Rural Areas); By Price Segment (Luxury, Mid-Segment, Affordable); By Project Stage (Under Construction, Ready to Move in); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: June 2024
- Report ID: BWC24440
- Available Format: PDF
- Page: 200
Report Overview
The growing urban population, rising disposable incomes, and increasing government initiatives are expected to drive the India Realty Market during the forecast period between 2024 and 2030.
India Realty Market – Industry Trends & Forecast Report, 2030
The India Realty Market size was estimated at USD 563.24 billion in 2023. During the forecast period between 2024 and 2030, the India Realty Market size is projected to grow at a CAGR of 12.06% reaching a value of USD 1,075.16 billion by 2030. Prominent drivers of the market are the increasing residential, retail, hospitality and commercial sectors and rapid urbanization. The sector serves as a crucial employment generator, attracting substantial investments from non-resident Indians (NRIs) and contributing to the country's GDP. FY23 witnessed a surge in residential property sales, with robust increases in both value and volume. Also, the retail landscape is set for substantial development, with significant retail space additions in top cities. Office space demand remains strong, driven by sectors such as banking, financial services, insurance (BFSI), technology, and engineering. Notably, the increasing demand for data centers and the growing trend of commercial real estate transactions further propel market growth.
Realty – Overview
Realty encompasses various sectors, such as residential, retail, hospitality, and commercial real estate. It plays a significant role in the country's economy, serving as a key driver of employment and investment. The market witnessed substantial growth in recent years, with increasing demand for housing, retail space, and office properties. Factors such as urbanization, population growth, and infrastructure development contribute to the expansion of the realty market.
India Realty Market
Growth Drivers
Government’s Increasingly Supportive Initiatives for Real Estate Development
The real estate industry in India is undergoing unprecedented transformation, shaped by a myriad of factors such as government policies, technological advancements, and evolving consumer preferences. Regulatory measures like RERA have enhanced transparency and accountability, bolstering consumer confidence. Initiatives like the Pradhan Mantri Awas Yojana (PMAY) aim to make housing affordable, driving demand and investment. Granting industry status to real estate could further accelerate growth, given its significant contribution to job creation and economic development. Amidst rising urbanization and disposable incomes, there's a growing demand for modern amenities and eco-friendly housing, reshaping the market landscape. This aligns with the nation's vision for sustainable growth and prosperity, reflecting the dynamic nature of India's real estate sector.
Challenges
High Property Prices
High property prices pose a significant constraint on the growth of the India Realty Market. Elevated prices make properties less affordable for potential buyers, dampening demand and slowing down market activity. This situation not only hinders individual homebuyers but also affects the overall market dynamics, leading to reduced transaction volumes and potential stagnation in property development projects. Moreover, high property prices can also deter foreign investment in the real estate sector, limiting its expansion and potential contribution to economic growth and development. Addressing this challenge requires a balanced approach involving policy interventions, market reforms, and sustainable development strategies.
Impact of Escalating Geopolitical Tensions on India Realty Market
Geopolitical tensions can have a multifaceted impact on the India Realty Market. Heightened uncertainties and geopolitical risks often lead to investor caution, resulting in reduced investment inflows into the real estate sector. Foreign direct investment (FDI) may decline, impacting large-scale development projects and infrastructure investments. Moreover, geopolitical instability can disrupt global economic dynamics, affecting India's trade relations and overall economic growth. This can subsequently influence consumer confidence and sentiment in the real estate market, leading to subdued demand and potentially dampening property prices. Navigating these challenges necessitates proactive risk management strategies and a resilient approach to market dynamics.
India Realty Market
Segmental Coverage
India Realty Market – By Property Type
By property type, the India Realty Market is divided into Residential, Commercial, Industrial, Retail, and Hospitality segments. The residential segment holds the highest share in the India Realty Market by property type. It attributed to the perpetual demand for housing driven by rapid urbanization, population growth, and changing lifestyles. Residential properties cater to diverse segments of society, from affordable housing to luxury residences, catering to varying income levels and preferences. Additionally, government initiatives like affordable housing schemes and favorable financing options further bolster demand in this segment. Overall, the residential sector's prominence underscores its pivotal role in shaping the real estate landscape and meeting the evolving housing needs of India's burgeoning population.
India Realty Market – By Location
Based on location, the India Realty Market is divided into Tier 1 Cities, Tier 2 & 3 Cities, and Rural Areas segments. The tier 1 cities segment holds the highest share in the India Realty Market by location. It is primarily due to their economic significance, robust infrastructure, and high population density. Cities like Mumbai, Delhi, Bengaluru, and Chennai are major commercial and financial hubs, attracting significant real estate investments. These cities offer ample employment opportunities, superior connectivity, and advanced amenities, making them prime locations for residential, commercial, and industrial developments. Consequently, Tier 1 cities dominate the real estate market, driving demand and contributing substantially to the sector's overall growth.
India Realty Market – By Price Segment
Based on price segment, the India Realty Market is divided into Luxury, Mid-Segment, Affordable segments. The affordable segment holds the highest share in the India Realty Market by price segment. The high demand for affordable housing dominates India's housing market, with an estimated urban housing shortage of 10 million units. An additional 25 million affordable units will be needed by 2030 to accommodate urban population growth. The real estate sector has benefited from policies like RERA, REITs, and initiatives such as PMAY and SWAMIH. In 2023, 45.7 million houses were targeted in West Bengal, while urban areas saw 15.8 million homes completed under PMAY. Housing affordability was 3.3 in FY 2023, with banks advancing INR 2 trillion in housing loans, reflecting renewed homebuyer confidence.
India Realty Market – By Project Stage
On the basis of project stage, the India Realty Market is bifurcated into Under Construction and Ready to Move in segments.
India Realty Market – By Region
Geographically, the India Realty Market is divided into North India, South India, East India, and West India regions.
Competitive Landscape
Major players operating in India Realty Market include Godrej Properties, Prestige Estates Project Ltd, DLF, Oberoi Realty Limited, Sobha, Indiabulls Real Estate, Sunteck Realty, Phoenix Mills, Lodha Group, NBCC Ltd, Tata Housing, Embassy Office Parks REIT, and Brigade Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
-
In January 2024 - US-based Forbes Global Properties announced its entry into the Indian real estate market to provide luxury home brokerage services. The company plans to develop a 100-acre mixed-use project in Navi Mumbai, a commercial project near Delhi Airport, and a residential project in Goa.
Scope of the Report
|
Attributes |
Details |
|
Years Considered |
Historical Data – 2019–2030 |
|
Base Year – 2023 |
|
|
Estimated Year – 2024 |
|
|
Forecast Period – 2024–2030 |
|
|
Facts Covered |
USD Billion |
|
Market Coverage |
India |
|
Product/ Service Segmentation |
Material, Component, Vehicle Type, Channel, Region |
|
Key Players |
Godrej Properties, Prestige Estates Project Ltd, DLF, Oberoi Realty Limited, Sobha, Indiabulls Real Estate, Sunteck Realty, Phoenix Mills, Lodha Group, NBCC Ltd, Tata Housing, Embassy Office Parks REIT, Brigade Group |
By Property Type
-
Residential
-
Commercial
-
Industrial
-
Retail
-
Hospitality
By Location
-
Tier 1 Cities
-
Tier 2 & 3 Cities
-
Rural Areas
By Price Segment
-
Luxury
-
Mid-Segment
-
Affordable
By Project Stage
-
Under Construction
-
Ready to Move in
By Region
-
North India
-
South India
-
East India
-
West India
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- India Realty Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Growing Urban Population
- Rising Disposable Incomes
- Increasing Government Initiatives
- Restraints
- High Property Prices
- Limited Availability of Land
- Opportunities
- Development of Smart Cities
- Real Estate Investment Trusts (REITs)
- Challenges
- Sustainability Concerns
- Quality and Transparency Issues
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Realty Market: Marketing Strategies
- India Realty Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Property Type
- Residential
- Commercial
- Industrial
- Retail
- Hospitality
- Others
- By Location
- Tier 1 Cities
- Tier 2 & 3 Cities
- Rural Areas
- By Price Segment
- Luxury
- Mid-Segment
- Affordable
- Others
- By Project Stage
- Under Construction
- Ready to Move in
- By Region
- North India
- South India
- East India
- West India
- By Property Type
- Market Size & Forecast, 2019–2030
- North India Realty Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Material
- By Component
- By Vehicle Type
- By Channel
- Market Size & Forecast, 2019–2030
- South India Realty Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Material
- By Component
- By Vehicle Type
- By Channel
- Market Size & Forecast, 2019–2030
- East India Realty Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Material
- By Component
- By Vehicle Type
- By Channel
- Market Size & Forecast, 2019–2030
- West India Realty Market
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Material
- By Component
- By Vehicle Type
- By Channel
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- India Realty Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on India Realty Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Godrej Properties
- Prestige Estates Project Ltd
- DLF
- Oberoi Realty Limited
- Sobha
- Indiabulls Real Estate
- Sunteck Realty
- Phoenix Mills
- Lodha Group
- NBCC Ltd
- Tata Housing
- Embassy Office Parks REIT
- Brigade Group
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 India Realty Segmentation
Figure 2 India Realty Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 India Realty Market Size, By Value (USD Billion), 2019–2030
Figure 5 India Realty Market Share, By Material, By Value, 2019–2030
Figure 6 India Realty Market Share, By Component, By Value, 2019–2030
Figure 7 India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Figure 8 India Realty Market Share, By Channel, By Value, 2019–2030
Figure 9 North India Realty Market Size, By Value (USD Billion), 2019–2030
Figure 10 North India Realty Market Share, By Material, By Value, 2019–2030
Figure 11 North India Realty Market Share, By Component, By Value, 2019–2030
Figure 12 North India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Figure 13 North India Realty Market Share, By Channel, By Value, 2019–2030
Figure 14 South India Realty Market Size, By Value (USD Billion), 2019–2030
Figure 15 South India Realty Market Share, By Material, By Value, 2019–2030
Figure 16 South India Realty Market Share, By Component, By Value, 2019–2030
Figure 17 South India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Figure 18 South India Realty Market Share, By Channel, By Value, 2019–2030
Figure 19 East India Realty Market Size, By Value (USD Billion), 2019–2030
Figure 20 East India Realty Market Share, By Material, By Value, 2019–2030
Figure 21 East India Realty Market Share, By Component, By Value, 2019–2030
Figure 22 East India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Figure 23 East India Realty Market Share, By Channel, By Value, 2019–2030
Figure 24 West India Realty Market Size, By Value (USD Billion), 2019–2030
Figure 25 West India Realty Market Share, By Material, By Value, 2019–2030
Figure 26 West India Realty Market Share, By Component, By Value, 2019–2030
Figure 27 West India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Figure 28 West India Realty Market Share, By Channel, By Value, 2019–2030
List of Tables
Table 1 India Realty Market Size, By Value (USD Billion), 2019–2030
Table 2 India Realty Market Share, By Material, By Value, 2019–2030
Table 3 India Realty Market Share, By Component, By Value, 2019–2030
Table 4 India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Table 5 India Realty Market Share, By Channel, By Value, 2019–2030
Table 6 North India Realty Market Size, By Value (USD Billion), 2019–2030
Table 7 North India Realty Market Share, By Material, By Value, 2019–2030
Table 8 North India Realty Market Share, By Component, By Value, 2019–2030
Table 9 North India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Table 10 North India Realty Market Share, By Channel, By Value, 2019–2030
Table 11 South India Realty Market Size, By Value (USD Billion), 2019–2030
Table 12 South India Realty Market Share, By Material, By Value, 2019–2030
Table 13 South India Realty Market Share, By Component, By Value, 2019–2030
Table 14 South India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Table 15 South India Realty Market Share, By Channel, By Value, 2019–2030
Table 16 East India Realty Market Size, By Value (USD Billion), 2019–2030
Table 17 East India Realty Market Share, By Material, By Value, 2019–2030
Table 18 East India Realty Market Share, By Component, By Value, 2019–2030
Table 19 East India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Table 20 East India Realty Market Share, By Channel, By Value, 2019–2030
Table 21 West India Realty Market Size, By Value (USD Billion), 2019–2030
Table 22 West India Realty Market Share, By Material, By Value, 2019–2030
Table 23 West India Realty Market Share, By Component, By Value, 2019–2030
Table 24 West India Realty Market Share, By Vehicle Type, By Value, 2019–2030
Table 25 West India Realty Market Share, By Channel, By Value, 2019–2030
Table 26 Oberoi Realty Limited Company Overview
Table 27 Oberoi Realty Limited Financial Overview
Table 28 Sobha Company Overview
Table 29 Sobha Financial Overview
Table 30 Indiabulls Real Estate Company Overview
Table 31 Indiabulls Real Estate Financial Overview
Table 32 Sunteck Realty Company Overview
Table 33 Sunteck Realty Financial Overview
Table 34 Phoenix Mills Company Overview
Table 35 Phoenix Mills Financial Overview
Table 36 Lodha Group Company Overview
Table 37 Lodha Group Financial Overview
Table 38 NBCC Ltd Company Overview
Table 39 NBCC Ltd Financial Overview
Table 40 Tata Housing Company Overview
Table 41 Tata Housing Financial Overview
Table 42 Embassy Office Parks REIT Company Overview
Table 43 Embassy Office Parks REIT Financial Overview
Table 44 Brigade Group Company Overview
Table 45 Brigade Group Financial Overview
Table 46 Godrej Properties Company Overview
Table 47 Godrej Properties Financial Overview
Table 48 Prestige Estates Project Ltd Company Overview
Table 49 Prestige Estates Project Ltd Financial Overview
Table 50 DLF Company Overview
Table 51 DLF Financial Overview
Table 52 Others Prominent Players Company Overview
Table 53 Others Prominent Players Financial Overview
Market Segmentation
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