Infrastructure & Capex: Indirect Boost to Realty

According to Anuj Puri, Chairman – ANAROCK Group, the Budget acts more as a growth catalyst than an instant relief package for real estate. The increase in public capex to ₹12.2 lakh crore and the focus on Tier-2 and Tier-3 cities are expected to revive housing, commercial, and hospitality demand along upcoming transport and economic corridors.

The push for dedicated freight corridors and seven high-speed rail corridors is likely to unlock land value and development potential across new micro-markets.

REITs & Asset Monetisation: Institutional Capital Deepens

The proposal to create dedicated REITs for CPSE assets—covering railways, ports, telecom towers and government land—has been welcomed across the board.

Gautam Shahi, Director – Crisil Ratings, said the move reflects the maturity of India’s REIT ecosystem, boosting investor confidence while supporting the government’s asset monetisation agenda.

Anuj Puri added that this could help channel long-term institutional capital into Indian real estate, though clarity on taxation and framework is awaited.

Data Centres: Clear Winners of Budget 2026

One of the strongest positives comes from digital infrastructure. The tax holiday for data centres till 2047, combined with safe-harbour clarity, is expected to accelerate hyperscaler investments.

Shaishav Dharia, Director – Lodha Green Digital Infrastructure, called it a strong, long-term signal to global investors, already translating into foreign participation on digital infrastructure platforms, especially in MMR, Chennai, Bengaluru, and emerging Tier-2 hubs.

Capital Markets: Foreign Money Gets Easier Entry

From a broader investment lens, Mitesh Shah, CEO – Equirus Family Office, highlighted the Budget’s move to allow individuals resident outside India to invest directly in Indian equities, raising per-company limits to 10%.

This structural shift is expected to improve liquidity, reduce volatility, and bring longer-duration capital, indirectly benefiting real estate-linked stocks and REITs.

Affordable Housing: The Biggest Miss

Despite these positives, the absence of real estate-specific fiscal incentives—especially for affordable housing—has disappointed the sector.

Anuj Puri pointed out that affordable housing’s sales share has collapsed from over 38% in 2019 to around 18% in 2025, calling for urgent interest subsidies and definition reset.

Echoing this view, Shishir Baijal, Chairman & MD – Knight Frank India, said that while the Budget maintains macro stability and supports medium-term residential and logistics demand, it fails to address affordable housing concerns, which remain critical for inclusive urban growth.

Confidence & Structural Reform Outlook

Offering a broader perspective, Binaifer Jehani, Crisil Intelligence, noted that measures like the Infrastructure Risk Guarantee Fund, CPSE asset monetisation, and City Economic Region mapping improve financing confidence and signal a more data-driven, balanced urbanisation strategy.

Verdict: Good for Long-Term Growth, Weak on Social Housing

Union Budget 2026 is capex-driven, investment-friendly, and structurally positive for commercial real estate, REITs, data centres, logistics, and Tier-2/Tier-3 urban expansion.
However, the lack of direct affordable housing support keeps the impact moderate rather than transformative.

For developers and investors, the message is clear: long-term opportunity is intact—but inclusive housing remains an unresolved challenge.

Also Read: Real Estate Pins Hope on Union Budget 2022-23

The post Union Budget 2026: Real Estate Gets Long-Term Push, But Affordable Housing Left Behind appeared first on Square Feat India.

“The surge is also prompted by a perceivable shortfall in new supply of Grade A malls across cities,” says Anuj Kejriwal, CEO & MD, ANAROCK Retail. “The data speaks for itself.”

New Grade A Mall Supply (CY 2025-26): Top 7 Cities

• Total new Grade A mall supply: 16.6 Mn sq. ft.
• Delhi-NCR and Hyderabad alone to contribute ~65% of this total supply.

Mall Leasing & Vacancy Trends (CY 2021–26)

*Projected

“Despite the sudden spike in new supply, we do not foresee a severe oversupply scenario, as leasing demand remains very strong,” Kejriwal noted.

Rising Demand for Organized Retail Spaces

One of the strongest drivers of this mall boom is the entry of over 60 global retail brands across categories like:

• Fashion
• Electronics
• Lifestyle
• Food & Beverage (F&B)

These brands are choosing high-footfall malls and high streets, boosting demand for high-quality organized retail infrastructure.

Retail Boom Reaches Tier 2 & Tier 3 Cities

The retail expansion is no longer restricted to metros. Smaller cities are witnessing a consumption renaissance, spurred by:

• Higher disposable incomes
• Greater smartphone & internet penetration
• Faster ecommerce adoption

Ecommerce Shopping Share (By City Tier)

*Projected

• Online shoppers in India:
  • 2020: 140 Mn
  • 2024: 260 Mn
  • 2030 (projected): 300 Mn
  • 2035 (projected): 700 Mn

Outlook

With leasing activity staying robust and vacancy rates projected to stabilize around 8.2%–8.5%, the organized retail space in India is on a strong upward trajectory. The convergence of global brand entry, consumer confidence, and emerging consumption centers positions India as one of the most dynamic retail markets in the world today.

Also Read: Mall Space Demand Surges, Supply Struggles to Keep Up for Third Year

The post 16.6 Mn Sq. Ft. of New Mall Space by 2026 appeared first on Square Feat India.

Land Acquisitions and Development Potential

Among the key highlights, Tier I cities maintained dominance, securing 72% of the total land acquired. However, Tier II and III cities made significant inroads, capturing 28% of the share, equivalent to 662 acres. Cities like Nagpur, Varanasi, Indore, Vrindavan, and Ludhiana emerged as surprise hotspots, reflecting a strategic shift towards diversified urban development.

Regional Highlights

The Mumbai Metropolitan Region (MMR) led land acquisitions, with 407 acres transacted through 19 deals—up 41% from 2023. Meanwhile, the National Capital Region (NCR) recorded the highest number of transactions, with 36 deals, particularly in Gurugram (21 deals) and Noida (14 deals).

Surge in Residential Development

Residential projects dominated the landscape, comprising 81% of all acquired land, translating to 158 million square feet of potential housing space. Factors such as the Reserve Bank of India’s policy rate cut and fiscal support for the middle class fueled housing demand, prompting developers to bolster supply. Other asset classes, including office, retail, and industrial real estate, saw relatively lower interest.

Capital Investment and Financing Trends

Developing these new land acquisitions is expected to require an investment exceeding INR 62,000 crore. The top seven cities—Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, MMR, and Pune—will account for 91% of the projected capital needs. With traditional financing constraints in place, alternative investment funds (AIFs) and private credit are poised to play a crucial role in meeting funding requirements.

Future Growth Trajectory

JLL’s findings indicate that real estate development is shifting towards a dual strategy—aggressive expansion in top cities alongside steady growth in Tier II and III markets. This approach is expected to create a more balanced and sustainable development pipeline across India’s urban landscape.

SFI Analysis:

The record-breaking land acquisitions of 2024 signify a paradigm shift in India’s real estate sector. While major metros continue to attract investments, the increasing interest in Tier II and III cities underscores a broader market expansion. This shift is driven by urbanization trends, infrastructure development, and rising demand for housing beyond traditional hubs. The surge in residential projects aligns with India’s growing middle class and favorable policy interventions. However, challenges such as rising construction costs and financing constraints remain pertinent. Alternative investment mechanisms, including AIFs and private credit, will be instrumental in sustaining this growth. Moreover, with developers focusing on long-term land banking strategies, India’s real estate sector appears poised for continued expansion, fostering economic growth and urban transformation.

Also Read: Amazon real estate

The post India’s Real Estate Sector Sees Record ₹ 39,742 Crore Land Acquisitions in 2024 appeared first on Square Feat India.

The report estimates that in 2024, the e-commerce market stood at USD 125 billion, with expectations to hit USD 345 billion by 2030. This surge, driven by factors such as increasing internet penetration, smartphone adoption, digital payment infrastructure, and government initiatives like ‘Digital India,’ is fostering rapid transformation across the industry. The expansion of logistics and supply chain networks has further boosted the sector’s prospects.

E-Commerce Penetration in Smaller Cities

Beyond metropolitan areas, e-commerce firms are tapping into the growing consumer demand from smaller towns. The share of online shoppers from Tier 2 and 3 cities rose to 56% in FY2024, compared to 46% in FY2020, and is expected to further climb to 64% by FY2030.

“Besides the metros, e-commerce players are also tapping the growing demand from smaller towns and cities. Resultantly, the share of online shoppers from Tier 2 and 3 cities has increased to 56% in FY2024 from 46% in FY2020, and is expected to reach 64% by FY2030,” said Anuj Kejriwal, CEO & MD – ANAROCK Retail.

Meanwhile, India’s overall retail industry is projected to hit USD 2,500 billion by 2035, marking a threefold rise compared to 2019. This expansion is fueled by rising disposable incomes, increasing urbanization, and a burgeoning middle class. Today, the industry is characterized by a blend of sprawling malls, thriving e-commerce, and traditional retail markets.

Mall Vacancy Drops Amidst Rising Demand

The study also highlights significant trends in India’s shopping mall landscape. In 2024, new mall supply across the top seven cities stood at just 1 million sq. ft., while absorption was recorded at 6 million sq. ft. The post-pandemic resurgence in leasing, driven by experiential retail, has led to a significant drop in mall vacancy rates—from 15.4% in 2019 to just 8.1% in 2024.

“New supply is lagging far behind demand. Current supply and demand trends for mall spaces indicate a post-pandemic rebound in leasing, now largely driven by experiential retail,” noted Kejriwal. “Apparel and the F&B sectors consistently contribute nearly 45% of demand, remaining the top footfall drivers.”

With major domestic and international retailers expanding their presence in smaller cities, the supply of malls in Tier 2 and 3 locations is expected to grow substantially. The report projects that these markets will account for over 26 million sq. ft. of mall spaces by 2030, reflecting the growing appetite for organized retail in India’s emerging urban centers.

As India’s retail and e-commerce sectors continue to evolve, the interplay between online platforms and physical retail is expected to shape a dynamic and robust industry landscape in the coming decade.

Also Read: Emerging Tier II-III Cities Drive India’s Warehousing Growth with 100 Million Sq. Ft. Contribution

The post India’s E-Commerce Industry Poised to Reach USD 550 Billion by 2035 appeared first on Square Feat India.

The recent Union Budget’s announcement of a complete income tax exemption for individuals earning up to ₹12 lakh annually is expected to have a significant impact on the real estate sector, particularly in Tier 2 cities. While demand for housing in these cities has been steadily rising, a supply crunch due to fewer new project launches has created an imbalance in the market.

In contrast, Tier 1 cities have managed to maintain a balance between sales and supply, ensuring stability. However, in Tier 2 cities, the increase in disposable income resulting from tax exemptions is expected to further fuel demand, leading to a surge in affordable housing sales. With higher savings on EMIs, prospective buyers will find it easier to invest in property, further accelerating market activity.

Experts suggest that while the tax exemption is a welcome move, additional policy support is needed to boost housing supply. Pankaj Kapoor, Managing Director of real estate research firm Liases Foras, noted that reinstating the 100% tax deduction on profits from affordable housing projects under Section 80-IBA could have incentivized developers to increase supply. “Perhaps the reinitiation of the 100% tax deduction on profits from affordable housing projects under Section 80-IBA would have been ideal to promote the supply of affordable housing projects,” he said.

With increasing demand and a potential rise in supply, Tier 2 cities could soon become the new growth hubs for real estate. Industry stakeholders now await further policy measures that could complement the tax exemption and ensure a well-balanced housing market.

Also Read: budget expectations for real estate

The post Tax Exemption Boosts Housing Demand in Tier 2 Cities, Supply Yet to Catch Up appeared first on Square Feat India.

The Indian residential real estate sector has seen remarkable growth in 2024, showcasing its resilience and adaptability to evolving market dynamics. This year has been pivotal, with the sector aligning with changing consumer expectations by incorporating sustainability, technology, and premium living standards. While Tier 1 cities like Mumbai, Bengaluru, Hyderabad, and Delhi-NCR have traditionally dominated the real estate landscape, 2024 has marked the rise of Tier 2 cities. These emerging hubs offer an enhanced quality of life, spacious living, and modern amenities, making them increasingly attractive to homebuyers prioritizing comfort, advanced technology, and sustainability. Urban migration, infrastructure development, and rising disposable incomes have solidified their status as viable alternatives to metropolitan centers.

Surge in Luxury Housing Demand

Luxury housing has seen a significant upswing in 2024, with luxury home sales recording a 37.8% growth between January and September. This surge is driven by affluent buyers, including Non-Resident Indians (NRIs), seeking properties that emphasize wellness-oriented amenities, expansive layouts, and private outdoor spaces. High-end properties have become synonymous with premium living and holistic lifestyles. Younger professionals and nuclear families now dominate the real estate market, with nearly 60% of buyers under the age of 35. This demographic shift highlights a growing perception of real estate as a long-term investment. Developers have responded by integrating green-certified properties, energy-efficient designs, and renewable energy solutions into their projects to meet the rising demand for eco-friendly and tech-savvy homes.

South India’s Real Estate Growth

The real estate market in South India has experienced exceptional growth in 2024, driven by a robust economy and increasing urbanization. Tier 1 cities like Hyderabad, Bengaluru, and Chennai continue to attract significant investments across residential, commercial, and industrial segments. Hyderabad has emerged as a prominent real estate hub, with a 10% compound annual growth rate (CAGR) in residential launches. Its strong infrastructure, vibrant tech ecosystem, and business-friendly environment have attracted IT professionals and expatriates seeking spacious and sustainable homes. The city’s popularity among multinational corporations has also driven demand for Grade-A office spaces and premium residential projects.

Bengaluru, known for its global tech reputation, complements this trend by meeting the needs of professionals with sustainable and smart housing options. The city’s commercial real estate segment, particularly coworking spaces, has also seen strong demand. Chennai’s industrial and IT growth is mirrored in its residential and retail real estate expansion, supported by improved connectivity through metro projects. Meanwhile, Goa, traditionally a tourist destination, has experienced rising demand for vacation homes and lifestyle properties, driven by NRIs and remote workers.

North India’s Dynamic Real Estate Market

North India continues to be a vibrant real estate market, with Delhi and the National Capital Region (NCR) leading the way. Gurgaon and Noida have emerged as key hubs for IT, retail, and corporate offices, offering both luxury and affordable housing to cater to diverse income groups. Ongoing infrastructure projects, including metro expansions and smart city initiatives, are fueling growth in this region. Varanasi, historically known for its cultural significance, is undergoing a transformation with modern residential complexes, commercial spaces, and retail developments. Government initiatives such as the Smart City Mission and infrastructure upgrades are positioning Varanasi as a rising star in North India’s real estate landscape.

Rise of Tier 2 Cities

Beyond metropolitan centers, Tier 2 cities like Visakhapatnam, Vijayawada, Guntur, Mangalore, Mysuru, Coimbatore, Kochi, and Thiruvananthapuram are gaining prominence. Urbanization, improved connectivity, and rising disposable incomes have unlocked immense potential in these regions. These cities offer a blend of modern amenities and affordability, appealing to a diverse demographic. The entertainment and leisure sectors in Tier 2 cities have also expanded, driven by multiplexes, shopping malls, and family entertainment centers. These developments complement the booming real estate market, as developers invest in high-quality residential and commercial projects.

Shifting Demographics and Evolving Preferences

The Indian real estate sector is witnessing distinct demographic trends shaping its trajectory. Tier 1 cities continue to attract young professionals, drawn by abundant career opportunities in IT and finance. Meanwhile, Tier 2 and Tier 3 cities are seeing a surge in demand from middle-income groups and NRIs seeking affordable yet modern housing options. Younger buyers, predominantly under 35, prefer urban-style apartments with advanced amenities, while retirees and high-net-worth individuals (HNWIs) opt for villas or gated communities in serene locales. Developers are responding with tailored housing solutions that cater to these diverse preferences.

Role of General Contractors and Technology

General contractors play a pivotal role in the sector’s growth, managing construction projects and ensuring timely delivery. Government initiatives like the Smart Cities Mission and affordable housing schemes have increased demand for skilled contractors, creating job opportunities across engineering, project management, and skilled labor sectors. The adoption of modern construction technologies has further expanded roles in tech-driven fields, empowering the workforce and boosting the economy.

Outlook for 2025 and Beyond

With 2025 on the horizon, the future of Indian real estate appears even more promising. The sector is poised for sustained growth, with a projected CAGR of 10% in volumes over the next 3-5 years. Reports indicate that the size of the real estate industry could reach USD 1 trillion by 2030, driven by continued infrastructure development and a robust economy. In 2025 alone, the sector is expected to grow by 25%, fueled by strong consumer demand and favorable government policies.

Sustainability will remain central to this growth, with developers prioritizing energy-efficient designs and homes powered by renewable energy. Smart home technologies, automation, and advanced safety features will further revolutionize residential living, catering to the needs of a tech-savvy generation. Enhanced transparency through digital platforms and strengthened regulations will foster greater buyer confidence, ensuring a secure investment environment. These trends underscore a transformative phase for Indian real estate, positioning it as a key contributor to the country’s economic development.

Also Read: Pan India residential market

The post 2024 Sets New Benchmarks for Indian Real Estate, Gears Up for 25% Growth in 2025 appeared first on Square Feat India.

The luxury and ultra-luxury segments continued to outshine other market categories, with properties priced above ₹1 crore experiencing notable growth. Units in the ₹1-2 crore price range saw a 5% increase in sales, while properties priced above ₹2 crore recorded a robust 13% rise. The luxury segment accounted for 73% of the total sales value in Q3 2024, highlighting the growing demand for high-end residential properties in the country.

Growth Across Markets

The top eight metro regions—Mumbai Metropolitan Region (MMR), NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad, and Kolkata—continue to dominate the market, accounting for 76% of total sales across India. However, despite a 1% increase in sales in these regions, it was the Tier 2 cities that saw the highest growth, with a 5% rise in sales compared to the previous quarter.

The MMR region recorded the highest sales in terms of both units and value, with a 4% quarter-on-quarter growth. In contrast, Pune saw a 6% decline in sales, primarily due to a dip in the mid-range segment. Notably, Hyderabad and NCR continued to show strong growth, with Hyderabad maintaining consistent sales, driven by its growing popularity as a key business hub.

In terms of price appreciation, the northern regions, including Noida, Greater Noida, Ghaziabad, Faridabad, and Gurgaon, saw the highest year-on-year price growth. While the MMR experienced a more modest 5-7% price increase, areas in the NCR region, especially Noida and Gurgaon, saw higher appreciation, with some locations posting increases as high as 20-30% over the past year.

Decline in New Supply

While sales grew, the market also saw a 7% decline in new supply across the 60 major cities compared to the previous quarter. This drop was particularly evident in the affordable and mid-price segments, which saw a 30% fall in new launches below ₹30 lakh. However, the luxury segment continued to show resilience, with a 16% increase in new luxury supply, particularly in the ₹1-2 crore and ₹2 crore-plus price categories. The ultra-luxury segment (properties above ₹2 crore) made up 53% of the new supply value in Q3 2024.

Despite the overall drop in new launches, Tier 2 cities experienced a significant decline of 13% in new launches, indicating some pressure on the supply side, particularly in smaller cities. Notably, Hyderabad and NCR were exceptions, managing to maintain launch numbers consistent with previous quarters. NCR, in particular, showed strong 57% YoY growth in new supply, driven by the demand for larger, premium properties.

Unsold Inventory and Market Dynamics

While unsold inventory remained largely stable across the country, there was a slight decline of 5% in Tier 2 cities in the past quarter. On average, the months of inventory (the time it would take to sell all the unsold units at the current sales pace) stood at 14-15 months in markets like Bengaluru and Pune, and 15 months in Tier 2 cities, indicating a relatively balanced market in these regions.

The apartment segment remained dominant, accounting for 81% of total sales in Q3 2024, while plots and villas contributed to 19% of the market. Interestingly, the plots/villa segment showed a marked improvement in sales, with a 16% increase QoQ, signaling growing demand for independent homes in suburban areas and smaller cities.

Outlook for the Future

The Indian residential real estate market is expected to continue its upward trajectory as demand remains strong, particularly in the luxury and ultra-luxury segments. The ongoing growth in Tier 2 cities coupled with strong demand in metros like MMR, Bengaluru, and Hyderabad will likely support continued sales growth in the upcoming quarters. However, the decline in new supply in the affordable and mid-price segments could potentially limit options for first-time buyers and impact overall market liquidity.

With rising prices, limited supply, and growing demand for high-end properties, the luxury real estate sector looks poised for sustained growth, particularly in markets like NCR, MMR, and Hyderabad, where both sales and price growth are expected to continue.

The data is from a report released by Liases Foras a real estate research firm.

Also Read: Bengaluru Registers Rs. 15,739 Crore in Residential Transactions in Q3 2024, North Bengaluru Leads Market Activity

The post Residential Market Sees Growth in Sales and Value, Led by Luxury Segment in Q3 2024 appeared first on Square Feat India.

Top Cities Lead the Charge

The market remains heavily influenced by the top eight cities, which together accounted for 77% of total sales and a commanding 85% of the quarterly sales value. The Mumbai Metropolitan Region (MMR) emerged as a frontrunner, contributing 24% of national sales and 27% of the sales value, with Pune following closely behind with 22,546 units sold.

Segment-wise Insights

The segment priced between ₹50 lakhs and ₹1 crore showcased the highest growth, with a 9% increase in sales quarter-over-quarter (QoQ) and a notable 10% rise in sales value. Conversely, the ultra-luxury segment experienced stagnation in the top eight cities. The ₹1 crore to ₹2 crore segment also saw moderate growth, with a 3% increase in sales QoQ and a 5% rise in sales value.

New Launches and Affordable Housing

New launches across Pan India fell by 3% this quarter. However, the less than ₹30 lakhs segment bucked the trend with an impressive 28% surge in new launches, highlighting a growing appetite for affordable housing. This positive shift is particularly pronounced in the top eight cities, where new launches in the less than ₹30 lakhs segment increased by 36%.

Tier 2 Cities Performance

Tier 2 cities experienced a mixed bag of results. While most segments saw declines in sales, the ₹1 crore to ₹2 crore segment stood out with an 8% QoQ growth. The 50 lakhs to ₹1 crore segment saw the most substantial increase in new supply, up by 21%.

Price Trends and Market Sentiment

The overall residential market witnessed a 5.71% year-over-year (YoY) price increase from June 2023 to June 2024. Noteworthy price hikes were observed in Noida and Greater Noida with a 17% YoY increase, and Ghaziabad with a 14.3% rise. Navi Mumbai saw an 8% increase in prices. Despite a broad price growth, 45% of apartment projects experienced a modest 0% to 5% increase, while 35% saw a more substantial rise of 5% to 10% YoY.

Unsold Stock and Market Dynamics

The unsold supply across Pan India decreased slightly by 0.5%, with a monthly inventory overhang of 20 months. In the top eight cities, unsold stock remained steady, maintaining a 21-month overhang, while Tier 2 cities saw a 3% reduction in unsold stock, with a monthly overhang of 16 months. The MMR region continues to hold the highest proportion of unsold inventory, comprising 30% of Pan India’s total stock and a 25-month inventory overhang.

Conclusion

The Q1 FY 25 performance of the Pan India residential market highlights a sector in transition, with notable growth in affordable housing and varying trends across different regions and segments. As the market adapts to shifting demands and economic conditions, these trends provide a mixed but optimistic outlook for future quarters.

The post Pan India Residential Market Sees Stable Growth Amid Mixed Trends in Q1 FY 25 appeared first on Square Feat India.

Mapping property related trends across these five tier 2 cities, the report highlights that Nagpur (49%), Coimbatore (27%), Bhubaneswar (12%) observed the highest YoY growth for residential demand and     Nagpur (84%), Coimbatore (30%), and Indore (6%) exhibited the highest YoY growth for rental demand (searches). 

Elaborating on the trends, Sudhir Pai, CEO, Magicbricks, said, “Covid-19 was a watershed moment for real estate, especially for tier 2 cities that have emerged as real estate growth engines. Additionally, government initiatives like AMRUT and the Smart Cities Mission have helped these cities evolve into new economic hubs. With an uptick in economic activity and employment opportunities, we expect tier 2 cities to gain more momentum as prime residential markets in the coming months.”

The report also observes that Indian MNCs such as Infosys and TCS are present in 80% of these cities while foreign MNCs such as IBM are present in almost 60% of these cities, with further expansion plans. 

Market-specific takeaways from Magicbricks’ Emerging Cities Report Q2, 2022:

1. In Bhubaneswar, the residential demand increased 5% QoQ and 12% YoY, while the rental demand declined 15% QoQ. 37.7% of the customers preferred homes between 1000-1500 sf.

2. Residential demand in Coimbatore grew 12% QoQ and 27% YoY, while rental demand increased 11% QoQ and 30% YoY. As per the report, 43% of homebuyers prefer the 2 BHK configuration, 39% of homebuyers are searching for properties priced between INR 25-50 lakh, followed by 23% in the INR 50-75 lakh range.

3.In Jaipur, the aggregate demand for residential properties increased 5% YoY while the rental demand grew 17% YoY. The demand for 3 BHK configurations constituted 57% and majority (35%) of the homebuyers preferred units in the 1,000-1,500 sf bracket.

4. Residential demand in Nagpur grew 25% QoQ and 49% YoY,  while the rental demand increased 84% YoY. There was a preference for 2 BHKs, constituting 44% of the total residential demand and 45% of the  homebuyers preferred properties in the size bracket of 1,000-1,500  sf. 

5. Residential demand in Indore increased 12% QoQ and 2% YoY, while the rental demand increased 6% YoY.The report observed that 42.5% of homebuyers preferred 3 BHK units and 22% of homebuyers keen to opt for units in the size range of 1,000-1,500 sf. 

Also Read: Q3 2022 Housing Sales Up 4% Q-o-Q Across Top 7 Cities, 41% Jump Annually

The post Tier 2 cities emerging as Real Estate Growth Engines appeared first on Square Feat India.