India's real estate launches are expected to be lower than in 2019
According to an Emkay research, launches in the United States have remained stable since 2020, but are 22% lower than in 2019
According to a poll, real estate unit launches in India are still below 2019 norms, with Tier I cities lagging behind. NCR, Mumbai, and Hyderabad were the only three major areas where real-estate unit launches increased from previous years.
According to an Emkay analysis, launches in the United States were stable in 2020, but were 22% lower than in 2019. Emkay is a well-known researcher and investor in institutional stocks, portfolio management, wealth management, investment banking, and commodities.
Pune led the way with 17 percent of all pan-India launches, followed by Hyderabad, Bangalore, and the National Capital Region (NCR). Kolkata and Chennai combined accounted for less than 5% of India's overall market.
While real estate launches have not yet recovered to pre-COVID levels, listed developers now account for roughly 10% of the Indian real estate market. According to the study, "the share of listed developers climbed to 34 percent, 34 percent, and 9 percent in Bangalore, Noida, and Mumbai, respectively."
2BHK flats remained popular in India in terms of unit configuration. Two-bedroom homes accounted for more than 40% of the market. Simultaneously, the market share of three-bedroom flats in India is increasing. According to the findings, "two important variables driving this trend are 1) WFH/hybrid office culture and 2) high affordability measured in terms of EMI/Household income."
The Indian real estate industry was valued at $1.72 billion in 2019, but it is expected to grow to $9.30 billion by 2040. The real estate industry is India's second-largest employer after agriculture, and it is a vital source of income and growth.
According to Gaurvah and Gautam Malhotra, the Oasis Group's young scions, the real estate market has rebounded following the pandemic, and the number of launches has also increased. This gives the real estate sector a bright future.
The trend is expected to continue in the coming year, with current industry numbers approaching pre-Covid levels, according to them.