Despite a relatively late start with its first listing in 2019, the Indian REIT market has demonstrated strong fundamentals. “Indian REITs are late to the party, but now lead the dance,” said Shobhit Agarwal, CEO of ANAROCK Capital. He noted that the average distribution yields are competitive with fixed-income instruments but offer the additional benefit of potential capital appreciation.

Currently, Indian REITs account for just 20% of institutional real estate, significantly lower than the penetration in the US (96%), Singapore (55%), and Japan (51%). This is largely due to the sector’s concentration in Grade A commercial office assets. The report highlights significant untapped potential, noting that out of a total 520 million sq. ft. of REIT-worthy office stock in India’s top seven cities, only 32% (166 million sq. ft.) is currently listed.

The future growth of the sector is expected to be driven by diversification into new asset classes. “Over 60% of India’s REIT market value today rests with very small set of players,” stated Mr. Shekhar Patel, President of CREDAI, adding that REITs will eventually expand into retail, logistics, housing, and other new-age assets. The report predicts that as the market matures, India’s REIT penetration could reach 25–30% of institutional real estate by 2030.

A key growth area is industrial and data centre REITs, mirroring a global trend. Globally, data centre REITs were valued at around USD 250 billion in 2024 and are projected to double within seven years. India is showing strong indicators in this direction, with a 60% year-over-year surge in industrial and logistics leasing in the first half of 2025 and a threefold increase in institutional investment in the sector to USD 2.5 billion in 2024.

The proactive regulatory environment, shaped by SEBI since 2014, has been crucial in building investor confidence. Progressive reforms, including reduced lot sizes and dividend tax exemptions introduced in 2025, have enhanced transparency and retail participation. However, the report notes that dividend taxation rates in markets like the USA and Singapore are lower, making them more attractive for retail investors compared to India.

Overall, the Indian REIT market is on a strong growth trajectory, supported by deep office market demand and a stable regulatory framework, making it a compelling investment avenue for both domestic and global investors.

Also Read: Data Benchmarking Institutions Launched to Empower Indian REIT Investors

The post Indian REITs Deliver 6-7% Yields, Outperforming Global Peers; Market Cap to Hit $25 Bn by 2030 appeared first on Square Feat India.

In a directive issued to all seven recognised SROs, MahaRERA has instructed the immediate replacement of representatives who have served for more than two years. These organisations include NAREDCO West Foundation, CREDAI-MCHI, CREDAI Maharashtra, Builders Association of India, Marathi Bandhkam Vyavsayik Association, Brihanmumbai Developer Association, and CREDAI-Pune.

MahaRERA has also mandated that SRO representatives must possess subject matter expertise in at least one of three key domains: legal, financial, or technical. This requirement aligns with the Real Estate (Regulation and Development) Act, 2016, which mandates that every housing project must be registered with MahaRERA and obtain a registration number before developers can advertise, promote, or sell their projects.

Need for Expertise
MahaRERA Chairman Manoj Saunik highlighted the necessity for subject matter experts to facilitate the seamless registration of housing projects. “While registering a new housing project with MahaRERA, the project promoters expect a seamless experience and support from the SROs. The developers are also members of the SROs. By having SROs, MahaRERA has ensured them to officially be the link and do away with agents or other intermediaries. However, due to lack of subject matter experts, this objective remains unachieved,” Saunik said.

He further added, “The real estate projects are subjected to strict legal, financial, and technical scrutiny while issuing a registration number by MahaRERA. This is possible only when the representatives of the SROs are experts in each of these domains and can assist their respective members. Therefore, the representatives being subject matter experts is a must. Moreover, MahaRERA has also set a tenure of the representatives to a maximum of two years.”

Streamlining Registration
MahaRERA scrutinises each project proposal based on legal, financial, and technical criteria before granting registration. Representatives of SROs assist member developers during this process, ensuring compliance with observations and remarks made by MahaRERA.

To improve efficiency, MahaRERA has emphasized that SROs appoint qualified representatives who can effectively guide member developers. Each SRO is allocated one seat at MahaRERA, and the authority expects rotational representation to meet the needs of their members.

The new policy aims to expedite the registration process for housing projects and provide accurate guidance to developers. MahaRERA expects full cooperation from all stakeholders to implement these changes effectively.

This move is seen as a step toward strengthening the regulatory framework of the real estate sector and ensuring that project registrations are carried out efficiently and transparently.

Also Read: MahaRERA Annual Report

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The real estate body argues that charging GST on FSI would create substantial cost burdens for developers, ultimately impacting both the demand and supply of housing. CREDAI warns that such a move, whether applied retrospectively or prospectively, could exacerbate financial pressures in an already struggling sector. This, in turn, could lead to stalled projects and threaten the financial security of homebuyers.

The industry is already grappling with rising raw material costs, and the proposed GST on FSI charges could make affordable housing projects financially unviable. CREDAI stresses that the added tax burden would push prices further, especially affecting the middle-class segment, which constitutes 70% of homebuyers. Additionally, real estate developers are excluded from claiming Input Tax Credit (ITC) on GST, which would lead to further financial strain and double taxation.

CREDAI further asserts that the legal framework surrounding this issue should exempt FSI charges from GST. Citing notifications 14/2017 and 12/2017, CREDAI points out that services related to urban planning and town regulation by local authorities, including FSI, fall under the purview of Article 243W of the Constitution, which exempts them from GST.

Boman Irani, President of CREDAI, expressed his concerns, stating, “FSI/Additional FSI charges constitute a significant portion of project costs. Imposing GST on these charges could be counterproductive, leading to higher housing prices and dampening both housing supply and demand. We strongly urge the Government to keep these charges exempt from GST, as any tax imposition—retrospective or prospective—could destabilize ongoing and future real estate projects.”

CREDAI has called for the Government to maintain the current status quo, urging that FSI charges be kept outside the scope of taxation to prevent adverse effects on housing affordability, demand, and the overall economy.

Also Read: CREDAI-MCHI Launches Exhibition to Streamline Redevelopment in Mumbai

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The report highlights the transformative potential of India’s real estate sector, with PropTech—technology-driven innovations in the real estate industry—expected to grow at a sustained pace. By 2047, PropTech is forecast to reach $600 billion, accounting for around 12-13% of the overall real estate market, a substantial increase from its current share of less than 5% of the $300 billion market.

Key technologies like Artificial Intelligence (AI), Internet of Things (IoT), and Building Information Modelling (BIM) are driving this growth by revolutionizing the real estate value chain. These innovations are enhancing operational efficiency, improving transparency, and fostering smarter urban planning, which aligns with India’s broader goal of achieving a $26 trillion GDP by 2047.

The real estate sector in India employs over 77 million people, or about 14-15% of the country’s workforce. As a critical pillar of the economy, it has the potential to play a central role in India’s rise as a developed nation. Infrastructure initiatives such as the National Infrastructure Pipeline (NIP) and PM Gati Shakti are expected to further boost the sector by unlocking opportunities across both metropolitan and emerging tier-II and tier-III cities like Indore, Surat, Jaipur, and Agra.

India’s young and growing population, along with a rapidly expanding middle class, will drive increased demand for housing and real estate investments. By 2047, India’s middle class is expected to surpass one billion, significantly boosting discretionary spending and housing demand.

CREDAI has called for several strategic reforms to support this growth, including granting “Industry Status” to the real estate sector. This would ease access to institutional financing and reduce borrowing costs for developers. The organization also recommends redefinition of affordable housing, raising the price threshold for affordable units from INR 45 lakh to INR 90 lakh, in response to rising costs of raw materials, inflation, and land prices, which have made current definitions financially unfeasible.

Furthermore, CREDAI advocates for flexible tax schemes to support developers, including offering the option to choose between different GST rates for residential and commercial projects. A new policy framework to streamline land acquisition and zoning, along with the development of satellite towns to reduce urban congestion, is also on the table.

Boman Irani, President of CREDAI, emphasized the sector’s pivotal role in India’s economic future: “Indian Real Estate finds itself at an extremely crucial and exciting junction—characterized by rapid urbanization, technological integration, and a strong focus on sustainability. We are firmly positioned to contribute to India’s robust economy as we march toward our mission of a ‘Viksit Bharat’ by 2047.”

Manoj Gaur, Chairman of CREDAI, highlighted the report’s findings as critical to India’s future growth: “By rethinking affordable housing parameters and focusing on planned satellite towns, we can address urban congestion, ensure balanced regional growth, and make housing more accessible to India’s growing middle class. Strategic policy interventions will unlock the full potential of the sector, helping India realize its aspirations as a developed economy.”

As India moves toward its goal of becoming a developed nation by 2047, the real estate sector is positioned to play a central role in shaping its future, driving economic growth, job creation, and urban development.

Also Read: CREDAI to Celebrate 25th Foundation Day in Delhi, Launch Groundbreaking Report on Real Estate’s Role in Viksit Bharat 2047

The post Indian Real Estate Sector Poised to Cross $4.8 Trillion by 2047, PropTech to Reach $600 Billion, Says CREDAI-EY Report appeared first on Square Feat India.

The grand celebration will be attended by prominent dignitaries, policymakers, industry experts, and CREDAI leadership, including President Boman Irani, Chairman Manoj Gaur, and President-elect Shekhar Patel. The event will also see the launch of a landmark report titled ‘Role of Real Estate Sector for Viksit Bharat @ 2047’, which will explore the real estate sector’s critical contribution to India’s ongoing economic growth and its central role in achieving the nation’s aspirations for a developed India by 2047.

A Milestone for CREDAI and Indian Real Estate

The Foundation Day event will reflect on CREDAI’s journey as a key player in the evolution of India’s real estate industry. For over 25 years, the organization has been a custodian of the sector, advocating for housing for all, empowering stakeholders, and supporting various social development initiatives. The upcoming event is poised to further solidify CREDAI’s legacy as a driving force in the sector’s growth.

Key Highlights from CREDAI Leadership

CREDAI President, Boman Irani, expressed his pride in the organization’s journey: “We are extremely proud and excited to celebrate CREDAI’s 25th Foundation Day, a day full of pride, honour, and gratitude for all our office bearers, both past and present. This is also a moment to recognize the contributions of our state and city chapters, and all the stakeholders, including the Government and homebuyers, who have trusted in CREDAI and supported us in creating a positive environment for change.”

CREDAI Chairman, Manoj Gaur, highlighted the significance of the occasion: “CREDAI is now seen as India’s most trusted real estate body, a position earned through the collective efforts of our member developers over the last 25 years. On November 25th, we will celebrate not just our achievements but also the contributions of all those who have supported us in becoming the custodians of Indian real estate. Real estate has played a crucial role in India’s economic growth, and through this platform, we aim to continue this contribution by initiating discourse on critical industry issues.”

CREDAI President-elect Shekhar Patel emphasized the broader vision: “This Foundation Day is an opportunity to reflect on our collective efforts and renew our commitment towards shaping a ‘Viksit Bharat 2047’. We aim to build a future centered on inclusivity, sustainability, and growth, and this occasion will celebrate the efforts of our members and partners in shaping India’s real estate landscape.”

The event promises to be a milestone moment for CREDAI and the Indian real estate industry, as it looks ahead to the next 25 years, poised to continue playing a crucial role in India’s urban development and economic progress.

Also Read: Mumbai’s Real Estate Boom: A Developer’s Perspective on Rising Property Registrations

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The MoU aims to encourage builders and real estate developers to adopt green technologies and sustainable practices. It was signed by C Shekar Reddy, National Vice Chairman of IGBC, and Boman R Irani, President of CREDAI, in the presence of industry stakeholders.

C Shekar Reddy stated that this partnership would help position India as a leader in sustainable development by 2025. The collaboration will focus on raising awareness of green and net zero concepts and supporting CREDAI members in implementing IGBC’s rating systems for new projects.

Under the agreement, IGBC will assist CREDAI members with feasibility studies for their projects in various phases, providing guidance on achieving IGBC Net Zero ratings. The organizations plan to collaborate on local chapter activities and engage with stakeholders to promote the green building initiative.

Boman R Irani highlighted that CREDAI represents over 13,300 members across 230 city chapters in 21 states. The partnership with IGBC will enhance efforts to promote sustainability in the real estate sector.

CREDAI aims to adopt IGBC Green and Net Zero building rating systems for over 4,000 projects by 2030, contributing to the development of more than 400,000 housing units in the green category.

The MoU includes the establishment of a joint taskforce to drive initiatives for green building and sustainable development in India. Regular updates on their activities will be shared with members, and both organizations will collaborate on publications to support their objectives.

The MoU between IGBC and CREDAI is valid for three years and may be renewed under mutual agreement. IGBC is committed to innovation in building technologies and practices to support net zero goals and foster collaboration among industry experts, government bodies, and academic institutions. Its mission aims for 100% net zero embodied carbon by 2050 for new buildings and infrastructure, focusing on minimizing carbon emissions throughout project lifecycles.

Also Read: India Reaffirms Commitment to Sustainable Development During World Green Building Week

The post CII IGBC and CREDAI Sign MoU to Promote Green Building Practices in India appeared first on Square Feat India.

The report, titled “Indian Real Estate: The Quantum Leap,” identifies six key growth levers: rapid urbanization, infrastructure development, demographic shifts, digitalization, sustainability, and investment diversification. Together, these factors are expected to reshape the Indian real estate landscape, contributing to a projected 14-20% share of the nation’s GDP.

Urbanization and Demographics Fuel Demand

By 2050, the median age in India is projected to rise from approximately 30 to 40 years, with half the population expected to reside in urban areas. This demographic shift, combined with urbanization, is anticipated to generate significant demand across various real estate sectors, particularly residential, office, and retail markets.

Emerging segments such as senior living, co-living, and data centers are also set to experience substantial growth. As the population ages and consumer preferences evolve, investments in these alternative housing and service models are expected to surge.

Real Estate Hotspots on the Horizon

The report highlights the emergence of new real estate hotspots, particularly in tier II and III cities, as urban migration and infrastructure improvements create growth opportunities beyond major metropolitan areas. This expansion is likely to accelerate real estate development in peripheral regions of established cities.

Boman Irani, President of CREDAI National, emphasized the sector’s critical role in India’s economic future: “With the interplay of rapid urbanization and technological advancements, we are on the brink of a quantum leap, creating unprecedented demand across various real estate segments.”

Infrastructure and Policy as Catalysts for Growth

Infrastructure enhancements and a supportive regulatory framework are crucial to the long-term growth of the real estate sector. Initiatives such as the Real Estate (Regulation and Development) Act (RERA), the Pradhan Mantri Awas Yojana (PMAY), and REIT regulations have fostered greater transparency and investor confidence.

Manoj Gaur, Chairman of CREDAI National, highlighted the government’s focus on affordable housing and infrastructure modernization as transformative for both urban and rural landscapes. This commitment is expected to generate vibrant opportunities for developers and homebuyers alike.

Digitalization and Sustainability as Future Trends

The report underscores the growing importance of digitalization and sustainability in the real estate sector. Advanced technologies will play a pivotal role in optimizing operational efficiency, transparency, and accountability. Developers are increasingly expected to incorporate sustainable practices throughout the construction process, with green certifications becoming a standard requirement.

As India approaches its centenary year of independence, the real estate sector is anticipated to not only drive economic growth but also to evolve in response to shifting market dynamics and consumer preferences, setting the stage for a new era of development in the coming decades.

Also Read: At USD 2.5 Billion, Q2 2024 institutional investment in Indian real estate touches a 3-year high

The post Indian Real Estate Set for Breakthrough: Projected 16% Annual Growth to Reach $10 Trillion by 2047 appeared first on Square Feat India.

Price Trends Across Major Cities

The latest Housing Price Tracker, published by CREDAI (Confederation of Real Estate Developers’ Associations of India) in collaboration with Colliers and Liases Foras, reveals significant variations in house price trends among India’s largest cities. According to the report:

• Bengaluru, Hyderabad, and the National Capital Region (NCR), which includes Delhi, Faridabad, and Gurugram, have experienced a dramatic increase in average house prices, rising by over 50 percent from January-March 2019 to the second quarter of 2024.
• In Mumbai Metropolitan Region, house prices have remained stable compared to five years ago. Although prices were lower by five percent in the second quarter of 2023 compared to Q1 2019, the market has since stabilized.

Year-Over-Year Changes

The year-over-year data highlights:

• Delhi and the NCR saw the highest increase in house prices, with a 30 percent rise from the second quarter of 2023, driven primarily by luxury real estate projects.
• Bengaluru follows with a 28 percent increase, while Ahmedabad and Pune each saw a 13 percent rise.
• The remaining top cities have experienced more modest price changes, staying well below the ten percent increase threshold.

Expert Insights

The Reuters poll underscores a trend of rising house prices, particularly in the luxury segment. The demand for high-end properties continues to outpace that for affordable housing, which remains constrained by developer profit margins.

Also Read: Mumbai Real Estate Market Sees Record Highs in Property Prices

Credit and Sources

The data for this report is sourced from the Housing Price Tracker by CREDAI, in association with Colliers and Liases Foras. The Reuters poll provided insights into the expected price growth for 2024.

The post Know How Much your Housing Price will Increase? appeared first on Square Feat India.

Annual Price Surge of 12%

The report highlights a significant annual growth in housing prices, with an average increase of 12% year-on-year (YoY) across the eight major cities. Delhi NCR recorded the highest YoY growth, with prices surging by 30%, followed closely by Bengaluru.

Quarterly Price Increases: Delhi NCR and Bengaluru Lead

Delhi NCR witnessed the highest quarterly price rise at 16%, driven by substantial price hikes in micro-markets such as Dwarka Expressway and Greater Noida. Bengaluru followed with an 8% increase in average housing prices. Notably, Delhi NCR’s luxury segment saw a considerable boost, with 3-4 BHK configurations experiencing up to a 12% QoQ price increase.

Unsold Inventory Declines Amidst Robust Demand

The report also notes a decrease in unsold inventory across most cities, reflecting robust sales activity. Kolkata experienced the highest sequential decline in unsold inventory at 5%, with Pune, Ahmedabad, and Chennai also seeing reductions. Despite these positive trends, MMR reported a slight increase in unsold units due to a surge in new launches.

Pune and Ahmedabad See Notable Reductions in Unsold Units

Pune stood out with the most significant annual drop in unsold inventory, falling by 13%. Ahmedabad and Chennai also reported a decrease in unsold housing units, with annual reductions ranging from 6% to 8%. This reduction indicates a healthy absorption rate in these markets.

Continued Growth and Market Dynamics

Boman Irani, President of CREDAI National, attributed the steady growth to strong homebuyer sentiment and ongoing positive market conditions. He emphasized that the festive season and government infrastructure initiatives are expected to further impact housing prices and inventory levels positively.

Badal Yagnik, CEO of Colliers India, noted that despite rising prices, demand remains robust, supported by stable interest rates and recent budgetary measures. He anticipates that the upcoming festive season will invigorate the housing market with increased sales and new launches.

Micro-Market Insights: Delhi NCR and Bengaluru

In Delhi NCR, Dwarka Expressway and Greater Noida saw impressive quarterly price increases of 35% and 24%, respectively. Bengaluru’s Inner East and Periphery & Outer East micro-markets reported notable price rises, with Inner East experiencing a 25% increase.

Outlook and Future Projections

Vimal Nadar, Senior Director and Head of Research at Colliers India, highlighted the strong demand in luxury and ultra-luxury segments, particularly for spacious units. The recent changes in long-term capital gains tax are expected to boost investor and homeowner sentiment, further supporting market growth.

As India approaches the festive season, industry stakeholders will closely monitor new launches and housing stock, anticipating continued momentum in the residential real estate sector.

Also Read: CIDCO to Launch Housing Scheme for 902 Flats on Krishna Janmashtami

The post Housing Prices Rise Across Top Indian Cities, Reports CREDAI-Colliers-Liases Foras appeared first on Square Feat India.

The commitment to provide these homes was first announced in March 2019, following the Pulwama attack, where a suicide bomber targeted a convoy of Indian security forces on the Jammu-Srinagar National Highway in Lethapora, Pulwama district, Jammu and Kashmir, resulting in the deaths of 40 Central Reserve Police Force (CRPF) personnel. The Confederation of Real Estate Developers’ Associations of India (CREDAI) pledged to donate at least 30 flats to the families of the fallen soldiers, with ATS Infrastructure committing to provide 5 flats in their Greater Noida project.

Getamber Anand, Chairman of ATS Group, said at the handover ceremony, “It is an honour to deliver these homes to the families of soldiers who sacrificed their lives for the nation. Providing these homes is a tribute to their sacrifice. We hope this gesture brings some comfort to the families and strengthens their resolve.”

Anand added, “Our commitment to giving back to society remains strong. We stand with the families in their grief and hope these new homes provide them with a sense of belonging and security.”

Apoorva, daughter of martyr Shri Kaushik Kumar Rawat, expressed her gratitude, stating, “Receiving a house from ATS has lifted a significant burden from our shoulders. We are relieved to have a secure roof over our heads. Having a home is important, and we are thankful to ATS for this initiative.”

The delivery of these flats is a key step in honoring the memory of the soldiers and supporting their families in their path toward stability and healing.

Also Read: Pulwama Martyrs Family Allotted 9 Flats by Builder’s Body.

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