Data from the financial presentations of the top 7 listed realty companies reveals that they are looking forward to launching approx. 93.5 Mn sq ft of new residential space within the next 1-2 years.
India’s real estate sector might have suffered a setback during the first and second wave of the COVID-19 pandemic but housing demand in the country has revived, housing secretary Durga Shanker has said. The forced lockdowns and continued work from home and online classes have led to the demand for bigger and spacious homes with an isolated workspace.
Leading listed builders and developers continue winning their steaks with the preferences of homebuyers continuously favoring them. Now, they are getting ready for the tier 2 and tier 3 cities- for instance, Bengaluru-based Puruvankara Ltd. And Sobha Ltd. Will expand into Kochi, Coimbatore, GIFT city, Hosur, Thrissur, and Thiruvananthapuram.
Listed players of the real estate industry have their crosshairs trained on tier 2 and 3 as Southern India is a major focus area for them. The listed developers considered for this are- Brigade Enterprises, Godrej Enterprises, Kolte-Patil, Mahindra Lifespace Developers, Prestige Estates, Puruvankara Ltd, and Sobha Ltd.
This is a major decision in the real estate market and will be beneficial for a better position in the market.
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