Mumbai is the financial capital of the country. While it is still a far cry from being comparable to Shanghai in terms of aesthetics and infrastructure, the fact remains that most large corporations and financial institutions have their presence in this city.
At a time when there is a mad rush to launch new projects in & around the airports across the cities of India, a developer in Bengaluru opted to go in the diametrically opposite direction. Prima facie, what appeared to be a case of finding a better or affordable land parcel in that given location of South-West Bengaluru had a strategy that very few adopt in the business of Indian real estate. The strategy to define demand through scientific research. The demand in the market was assessed with consumer psychograph study – what consumers want; what they need; where are the gaps; and how a new housing project could fill in that gap.
Equity capital inflows touched USD 8.9 billion between January and September, registering a 46% Y-o-Y growth. The strong momentum in deal volume continued, with about 200 deals reported during this period, compared to 151 deals in the same period last year. The average deal size also increased to nearly USD 45 million in the first nine months of 2024 from about USD 36 million in 2023. Mid-sized deals, ranging between USD 10-50 million, represented 56% of the total investment inflows during this period.
Very few budget announcements in recent past have raised as many queries as the LTCG (Long Term Capital Gains) Tax. After all, it concerns all of us, the common citizens of India, whether they are lower class or middle class. For the rich, it has always been a case of more tax reliefs than burden. Track2Realty is regularly getting queries with the underlying worry as to whether the LTCG Amendment makes the tax computation simpler or more complicated.
The surge in demand for luxury housing has been primarily attributable to a growing preference among affluent buyers for enhanced amenities and more spacious living areas that complement their multifaceted lifestyles. Moreover, the increasing aspirational class has significantly contributed to the increased demand for luxury properties. Furthermore, the rise in NRI and astute domestic investors in the Indian real estate market has considerably fueled the heightened demand for luxury residences.
Emaar India the Indian business entity of brand Emaar, famous for developing Burj Khalifa, is now entering the Mumbai market with an offering in Alibag. The company will be introducing a coveted villa – only destination for the who’s who of Mumbai- the financial capital of India. It will soon be launching its first ultra-luxury villa project, The Casa Venero in Alibag, Maharashtra. The company has set up their sales lounge in the Oberoi.
This IGBC pre-certified Silver-rated green township has internationally designed open and green spaces by renowned consultants “ATKINS UK”. Round-the-clock security with surveillance cameras will ensure the safety of its residents. An elite Community Center for Wave Gardens with a Gym, Yoga & Aerobics Room, Library, Carrom and Cards Room, Kids Play Zone, Restaurant, Swimming Pool, Multi-purpose Recreational Hall, etc. will make coming home a pleasurable experience.
The real estate market of Goa is also expanding not only in terms of buyer interest but also geographically. The once-limited property market is now spreading across new areas, offering a wider variety of options to buyers. Alongside this expansion, there has been a notable rise in property prices. What was once a market catering to properties valued between Rs 5 crore and Rs 15 crore has evolved, with some villas now fetching prices of up to Rs 100 crore. This surge reflects the growing interest from ultra-high-net-worth individuals who are seeking exclusive, luxury homes in the region.
This long-term growth in real estate is underpinned by six salient growth levers which includes, rapid urbanization, infrastructure development, digitalization, demographic shifts, sustainability and investment diversification; all of which will form the bedrock for a quantum leap in Indian real estate by 2047. These long-term growth ingredients will be pivotal in the expansion of Indian real estate – from under a trillion currently, to potentially a USD 10 trillion market by 2047, accounting for a 14-20% share in the country’s GDP.
Understanding the mindset of Indian real estate has never been easy. The built environment of the Indian real estate could argue and demolish the best of consumer-centric reforms. Remember the way industry body CREDAI had called RERA prior to its inception, and that too in front of the then Union Minister Kamal Nath, builder harassment and public amusement bill. But at the same time they celebrate the self-inflicted injury on many occasions. Track2Realty finds the overtones of the sector all the more contradictory with the Union Budget, before and after the budget.