Comment on JLL Report - Residential sales set to soar: Projected 260k units by end of 2023, highest since 2008; Anticipated 290k to 300k units in 2024

 1. Mr Akhil Saraf, Founder & CEO of Reloy

The real estate industry has undergone a comprehensive transformation in recent years, encompassing regulatory changes and a shift in the mindset of both suppliers and consumers. Developers are increasingly adopting a customer-centric approach, focusing on meeting the specific needs and demands of homebuyers. This renewed focus has bolstered confidence among potential buyers, reaffirming real estate as a viable asset class.

Developers who align their offerings with the evolving preferences of homebuyers are experiencing positive feedback, and we anticipate this trend to persist. There is substantial demand in the real estate market, with individuals either looking to purchase their first home, upgrade their existing residence, or invest in second and holiday homes.

In the previous fiscal year, we facilitated property sales exceeding ₹1,000 crore. We anticipate doubling this figure in the current fiscal, targeting property sales surpassing ₹1,500 crore.

2. Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd.

 “As the final curtain descends in 2023, the real estate industry witnesses an impressive surge, with Gurugram's mid-housing sector taking center stage.  The year-end reflection unveils a YOY upswing, showcasing a strategic prowess in meeting the escalating demand for affordable yet quality residences. In areas like Dwarka Expressway, New Gurugram, South of Gurugram (Sohna), SPR  residential demand has seen a significant upswing, driven by a keen interest from buyers towards mid housing and massive infrastructure development in these locations. The spotlight on the mid-housing sector has been particularly noteworthy, reflecting the discerning preferences of homebuyers seeking the perfect blend of affordability and quality living.

Looking ahead to 2024, the positive trends set in motion in 2023 reverberate as a promising melody for the entire real estate industry. The anticipated growth in demand for mid-range housing, Luxury housing mirrors the evolving preferences of homebuyers and signifies the resilience and adaptability inherent in the real estate market particularly locations like 37D, sector 71, Dwarka Expressway & South of Gurugram. The anticipated growth in demand aligns with the broader landscape, as the Indian real estate sector is poised to jump multifold in the coming years.