Over the years, it has been seen tremendous growth in the Indian real estate sector, especially the residential real estate market. The pandemic has led the developers to develop the new concepts in accordance with the change in behaviour of home buyers as the buyer's perception has changed and shifted to bigger, better and safer homes.
Every quarter, Knight Frank India conducts the flagship survey. This survey noted that the current sentiment reached a new height of 68- depicting that most stakeholders experienced positive business developments in the last six months. The Current Sentiment score increased from 65 in Q4 2021 to 68 in Q1 2022 as the previous six months remained favourable for growth for most real estate stakeholders.
In the next six months, the analysis finds the present scenario as a very optimistic stakeholder outlook for the residential real estate market due to solid homebuying demand. More than 80% of the survey expect residential sales to increase in the next six months, which is a significant improvement over Q4 2021.
It is expected to see a rise in the launch of new residential projects in the next six months; 80% of the residential supply is expected to see a rich boost in the market. The overall residential market is growing in terms of new creativity and concepts. It is expected to see a change in economic outlook because of the continued demand for real estate space across asset classes. The redemption in all COVID-19 protocols has also led to a further boost in sentiments.
As the Indian economy navigated the third wave whilst being faced with the uncertainty of war in Europe, the real estate sector remained unabated, especially in the residential segment. The commercial real estate segment has also shown growth in development after the COVID. At the same time, the sentiments for both the sectors have seen a positive score and the best reached in the survey history.
Checking on the economic outlook for India, 85% of respondents expect the overall economic momentum to improve over the next six months.
Expert says The growth in the residential market has been impressive, elevating the sentiments of the entire sector. As most companies start calling their staff back to work, office space demand has also increased steadily. The buoyancy in stakeholders' take on the sector reflects positively in the Current and Future Sentiment Scores. However, geopolitical tensions impacting crude oil prices lead to a rise in inflation in the Indian market, affecting the demand from end-users. The scenario is further complicated with supply chain disruptions, rise in input cost and an impending interest rate hike, all of which need to be overseen shortly."
After analysing the ups and downs in the real estate market, the Raheja Developers kept on focussing on developing the best residential projects that can give a sigh of relief and a bundle of happiness with comfort and luxury. Raheja Vanya and Raheja Revanta are two of the major projects being developed, keeping the viewpoint of every homebuyer looking for a home with all the luxury and healthy space.