Ramani Sastri, Chairman and MD, Sterling Developers
The Indian real estate sector has experienced a remarkable recovery and gearing up for a promising future. The economy is looking robust with high investments across businesses in recent times. A recovery in property prices and rise in yields has made investment in residential properties attractive yet again and has been responsible for continued demand in the sector. The long-term benefits of owning a home have led to sustainable growth in the segment and we see this up-cycle continuing in 2024. An increase in earning potential, end user-driven demand, a need for a better standard of living and the growing base of aspirational consumers and their lifestyle changes has led to substantial demand and growth in the sector. With economic growth, the premium housing segment too will continue to witness higher demand in the future.
Looking ahead, the future holds immense promise for the Indian real estate sector. We are also expecting significant growth in the near future, building on the success of this year and the continued strong demand in the real estate sector driven primarily by burgeoning aspirations. India’s real estate market is one of the most dynamic and fastest-growing in the world. Real estate investments hence remain one of the most desired investments due to their strong base and reliability factor. We will continue to see a multi-fold growth in real estate investments since the real estate market is less volatile than other investment markets and delivers higher returns. Overall, consumers are keen to buy homes as stability and security is on top of their mind now and the recent past has been testament to the fact that home buyer confidence is at an all-time high.
By 2030, India’s urban population is expected to hit 600 million people and hence substantial housing demand is on the horizon. The unwavering focus on infrastructure will continue to drive real estate growth over the next few years. As long as the macro fundamentals are stable, demand for real estate will continue to grow. The Indian real estate market is booming and being a part of its growth can extend favourable returns in the future.
