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India Realty Market
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India Realty Market

Home Building And Construction India Realty Market

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.

India Realty Market

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 Share

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

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Realty Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing Urban Population
        2. Rising Disposable Incomes
        3. Increasing Government Initiatives
      2. Restraints
        1. High Property Prices
        2. Limited Availability of Land
      3. Opportunities
        1. Development of Smart Cities
        2. Real Estate Investment Trusts (REITs)
      4. Challenges
        1. Sustainability Concerns
        2. Quality and Transparency Issues
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Realty Market: Marketing Strategies
  5. India Realty Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Property Type
        1. Residential
        2. Commercial
        3. Industrial
        4. Retail
        5. Hospitality
        6. Others
      2. By Location
        1. Tier 1 Cities
        2. Tier 2 & 3 Cities
        3. Rural Areas
      3. By Price Segment
        1. Luxury
        2. Mid-Segment
        3. Affordable
        4. Others
      4. By Project Stage
        1. Under Construction
        2. Ready to Move in
      5. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  6. North India Realty Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Material
      2. By Component
      3. By Vehicle Type
      4. By Channel
  7. South India Realty Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Material
      2. By Component
      3. By Vehicle Type
      4. By Channel
  8. East India Realty Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Material
      2. By Component
      3. By Vehicle Type
      4. By Channel
  9. West India Realty Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Material
      2. By Component
      3. By Vehicle Type
      4. By Channel
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Realty Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Escalating Geopolitical Tensions on India Realty Market
  12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Godrej Properties
    2. Prestige Estates Project Ltd
    3. DLF
    4. Oberoi Realty Limited
    5. Sobha
    6. Indiabulls Real Estate
    7. Sunteck Realty
    8. Phoenix Mills
    9. Lodha Group
    10. NBCC Ltd
    11. Tata Housing
    12. Embassy Office Parks REIT
    13. Brigade Group
    14. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*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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No data available

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Frequently Asked Questions (FAQs):

Ans: The India Realty Market size by value was estimated at USD 563.24 billion in 2023.
Ans: The India Realty Market by value is expected to grow at a CAGR of 12.06% during the forecast period between 2024 and 2030.
Ans: The India Realty Market size is forecast to reach a value of USD 1,075.16 billion by 2030.
Ans: The growth of the India Realty Market is primarily driven by the rising scrap metal demand, government regulations, and growing environmental concerns.
Ans: The tier 1 cities segment is expected to grow at the highest CAGR in the India Realty Market during the forecast period between 2024 and 2030.
Ans: The affordable housing segment holds a major share in the India Realty Market by price segment.