Industry round-up and outlook statement from Mr Bijay Agarwal, MD, Sattva Group

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New Delhi,  january 03, 2024 :  In 2023, there’s been a marked surge in the demand for luxury homes across India. The evolving socio-economic climate, coupled with increased disposable incomes, has ushered in a new wave of discerning buyers seeking to elevate their living standards. Post-pandemic, both luxury and ultra-luxury housing segments experienced a significant boom. In just the first nine months of the year, total residential property sales exceeded the entirety of 2022 by 7%. Luxury residences now extend beyond opulence, and incorporating larger green spaces, smart technology, with state of the art wellness and entertainment facilities to create a wholistic living environment. Notably, real estate remains a steadfast investment choice, a sentiment widely held among consumers.

The consumer of today is different from the consumer of 5 years ago. As such our focus continues to remain to grow with our customers and focus on their current needs. Guided by our commitment, we are re-innovating living spaces, highlighting luxury, security, and prosperity.

 Simultaneously, the commercial real estate landscape in India experienced a dynamic shift, witnessing a gradual return to office-based work culture. Fuelled by a young, dynamic workforce and a burgeoning startup ecosystem, the sector is adapting to changing workplace dynamics. Innovations like co-working spaces and flexi-office, and incorporating new technology for enhanced productivity and collaboration, are gaining traction. Additionally, the flourishing retail sector and the rise of e-commerce have spurred a strong demand for commercial spaces. The convergence of factors such as increasing demand, urbanization, foreign capital investment, technological advancements, and supportive government policies have been a great boon for the industry. India is also positioned at promising stage for 2024, with potential for high growth and diverse business opportunities in real estate and beyond.

 With careful consideration of the evolving needs of our clients, we continue to create luxury commercial spaces, that seamlessly combine functionality, aesthetics, and state-of-the-art facilities.

Corporate Comm India (CCI Newswire)