Vingroup, the Vietnamese conglomerate built from the ground up, has spent three decades forging its own path. Today, the Group boasts 17 P&Ls, three affiliated enterprises, and various foundations with a workforce of over 133,000 employees. Its reach extends across Vietnam, with operations in all 63 provinces and cities, and into international markets on multiple continents.

Vinhomes – Vietnam’s premier real estate brand

Vingroup operates across three core sectors: technology-industry, trade & services, and social enterprise.

In the technology – industry sector, VinFast is redefining mobility with a diverse range of cutting-edge vehicles. From its eight electric car models to its electric buses, e-scooters, and bicycles, the company offers a comprehensive ecosystem for sustainable transportation. Having expanded its manufacturing footprint to the United States, India, and Indonesia, VinFast is poised to dominate the global EV market.

In the commercial – services sector, Vinhomes stands as Vietnam’s premier real estate brand. The developer’s projects across the country offer residents unparalleled luxury, complete with modern infrastructure and top-tier amenities. From Ocean City, a global model of sustainable living, to Vinhomes Royal Island, a world-class living space featuring a high-end ecosystem of amenities, the company has redefined the concept of upscale living.

Also making a mark on the international market is Vinpearl, Vietnams leading brand in tourism and resorts, and VinWonders, Vietnams premier brand in entertainment. Beyond their luxury resorts and entertainment complexes, Vinpearl and VinWonders have played a pivotal role in elevating Vietnams international tourism standing through a series of large-scale events.

Also in the commercial – services sector, Vincom Retail, founded by the Group, is Vietnam’s leading retail real estate developer and operator. With a presence in 47 provinces and cities, Vincom Retail is at the forefront of shaping Vietnam’s consumer landscape.

Besides, Vingroup’s healthcare and education arms are experiencing rapid growth. Renowned for its world-class facilities, expert physicians, and patient-centric care, Vinmec – the Group’s healthcare network – is attracting both domestic and international consumers.

In the field of education, Vinschool has opened six new campuses this year, expanding access to its high-quality education. With 13 campuses accredited by the Council of International Schools, Vinschool has solidified its position as a leading educational institution in Vietnam. Meanwhile, VinUni has achieved another milestone with its first graduating class.

Vingroup has rapidly expanded its footprint across multiple sectors. In the public transportation sector, GSM has rapidly expanded its operations to nearly 50 provinces and cities nationwide within just one year. VinBus has transported nearly 80 million passengers on eco-friendly routes, significantly reducing urban carbon emissions.

The Groups technology companies are making waves both domestically and internationally. Its expertise in big data, AI, and cybersecurity is driving innovation across various industries, including healthcare and automotive.

Vingroups dedication to social impact is underscored by its extensive philanthropic work. The VinFuture Prize, an international science award, has seen a remarkable surge in global interest.

Meanwhile, The Kind Heart Foundation, For Green Future Foundation, VinIF, the 1,100 Vingroup Science and Technology Scholarship Program, and VinUni scholarships continue to diligently serve the community and drive development. To date, the total amount of charitable contributions and sponsorships has reached over 27,000 billion VND (approximately 1.07 billion USD).

Finance Minister Nirmala Sitharaman announced Indias Union Budget for 2024-25, focusing on employment, skill development, support for MSMEs, and the middle class. This pivotal moment for Indias fiscal policy outlined the governments financial roadmap, with all eyes on the strategies and allocations shaping the countrys economic trajectory. Key highlights included targeted reforms, infrastructure investments, and measures to boost consumption and employment. Notably, the Finance Minister announced substantial adjustments to personal income tax rates for the fiscal year 2024-25, aimed at reducing the tax burden on the people, maintaining exemptions for incomes up to Rs. 3 lakh.

Union Budget 2024: Real Estate Sector Responds to Strategic Investments and Opportunities Ahead

Rajjath Goel, Managing Director, MRG Group, commended the Union Budget for its clear commitment to sustainable urban development. “The Union Budget has made an unequivocal statement about its commitment to sustainable urban development, with a sharp increase in finances for projects aimed at improving connectivity and the quality of life in cities. The robust framework brought out in the new budget for integrating renewable sources of energy into housing projects in urban areas will modernize cities and accommodate the growing urban population effectively,” he said.

Echoing these sentiments, Harinder Singh Hora, Founder Chairman, Reach Group, hailed the Union Budget 2024 as a catalyst for transformative growth in Indian real estate. “The Rs. 11.1 lakh crore allocation for infrastructure is a game-changer, unlocking potential for both residential and commercial segments. The governments nudge for reduced stamp duty makes property investments more accessible and stimulates market growth. The focus on youth skilling and MSME support will create job opportunities and a more attractive business environment, further propelling the real estate sector. The budget lays a strong foundation for significant growth and transformation,” Hora noted.

Uddhav Poddar, MD, Bhumika Group, highlighted the emphasis on infrastructural development by allocating Rs. 11.1 lakh crore. “The emphasis on infrastructural development by allocating Rs. 11.1 lakh crore, along with employment generation and skill development, will boost real estate development and provide a fillip to the commercial segment. The promulgation of the PPP model for rental housing in urban centres, along with TOD, will also promote real estate development,” he stated.

Prateek Tiwari, MD, Prateek Group, spoke on the promising commitments of the Union Budget 2024. “The Union Budget 2024 offers promising commitments to infrastructural development, urban housing, skilling the youth, job creation, and supporting MSMEs. The emphasis on infrastructural development by allocating Rs. 11.1 lakh crore, along with employment generation and skill development, will boost real estate development and provide a fillip to both residential and commercial segments. The suggestion to reduce stamp duty by the state governments is a positive step, benefiting buyers by minimizing registry costs. Hence, the budget encourages the entire sector, acting as a catalyst for transformative changes,” he explained.

Addressing the needs of middle-class homebuyers, Ashwani Kumar, Pyramid Infratech, emphasized the major announcement in the Union Budget 2024 regarding the allocation of Rs. 10 lakh crore to the urban housing segment. “This step will promote affordable housing, meeting the needs of middle-class homebuyers. The suggestion to reduce stamp duty by the state governments is a very positive step, benefiting millions of flat owners. The Rs. 11.1 lakh crore expenditure on infrastructure development will boost both commercial and residential real estate,” he remarked.

Gurpal Singh Chawla, Managing Director, TREVOC, expressed his enthusiasm for the governments strategic focus. “The budget embodies a powerful vision for India’s future growth. We are thrilled to see the governments strategic focus on infrastructure development, job creation, youth skilling, MSME support, and urban housing. The proposal to reduce stamp duty is a game-changer, offering significant relief to millions of buyers by reducing registration costs. This will undoubtedly fuel demand and invigorate the sector. Furthermore, the emphasis on Transit-Oriented Development (TOD) and the establishment of industrial parks demonstrates a forward-thinking approach towards comprehensive development, transforming the real estate landscape and benefiting both residential and commercial segments.”

Saurav Sharma, Sales Director, Trisol RED, added, “The Rs. 10 lakh crore investment in urban housing is a strategic move that will have far-reaching impacts. By addressing the housing needs of 1 crore urban poor and middle-class families, the government is not only improving living standards but also driving economic growth through job creation and increased demand in the construction sector.”

Tejpreet Singh, MD, Gillco Group, praised the allocation for PM Awas Yojana-Urban. “The announcement of Rs. 10 lakh crore for the PM Awas Yojana-Urban to satisfy the housing requirements of one crore poor and middle-class families is a game-changing move. This huge investment will not only provide affordable housing but also stimulate economic growth by providing jobs and bolstering the construction industry. Its a vital moment for the real estate business, and we are delighted to contribute to this nation-building effort.”

Prasoon Chauhan, Founder & CEO, Aurika Homes, highlighted the significance of the budgets allocations. “A key highlight of the Union Budget 2024 is the allocation of Rs. 10 lakh crore to urban housing, which will significantly advance affordable housing and address the needs of middle-class homebuyers. Additionally, the recommendation for state governments to reduce stamp duty is commendable, providing substantial relief to millions of buyers by lowering registry costs. Meanwhile, the Rs. 11.1 lakh crore earmarked for infrastructure development is set to enhance both commercial and residential real estate sectors.”

In conclusion, the Union Budget 2024 has been positively received by real estate developers, who praise its focus on urban housing, infrastructure development, and supportive measures for MSMEs and the middle class. The substantial allocations for urban housing and infrastructure are seen as game-changing moves that will drive economic growth, create job opportunities, and stimulate both residential and commercial real estate sectors. The reduction in stamp duty and the emphasis on sustainable urban development further solidify the governments commitment to fostering a more robust and inclusive real estate market.

Top-listed real estate players in India are experiencing exceptional business growth, driven by strong consumer demand and increased sales. Many developers have reported record-breaking pre-sales in the 2023-24 fiscal year, highlighting their robust market performance. Significant increases in market capitalization and sales bookings reflect the industrys positive trajectory.

Source – Screener

According to Screener, a stock analysis tool, ten prominent listed real estate companies-including DLF, Godrej Properties, Prestige Estates, Signature Global and others-achieved property sales worth an astounding Rs. 12,867.8 crore in the latest quarter, resulting in impressive net profits.

This impressive growth was primarily driven by the strong demand for residential properties, particularly premium homes in major cities. Industry experts attribute the surge in sales among the top 10 listed players to robust housing demand and a preference for companies and brands with proven track records of successful project execution.

According to a report by rating agency Crisil, residential real estate developers are expected to achieve 8-10 percent sales growth this fiscal year, despite rising interest rates and home prices. This growth is supported by a 4-6 percent increase in volume and a 3-5 percent rise in capital values.

Here are the top 10 listed real estate companies in the country in terms of market capitalization-according to “Screener”, which have significantly contributed to the sectors development and offer a wide range of real estate services:

1. DLF: DLF Limited, established in 1946, stands as one of Indias oldest and largest real estate enterprises, renowned for its high-quality residential and commercial projects. The company has played a pivotal role in the development of Gurgaon, a key commercial center near Delhi. DLFs extensive portfolio encompasses shopping malls, luxury apartments, gated communities, office spaces, and hotels. As a publicly traded corporation listed on the NSE and BSE, DLF leverages its solid reputation, extensive experience, and diverse portfolio to capitalize on the expanding Indian real estate market.

2. Godrej Properties: Established in 1990, Godrej Properties has emerged as one of Indias foremost real estate companies, recognized for its innovative design, quality construction, and commitment to customer satisfaction. The company has developed numerous commercial and residential projects nationwide, earning a strong reputation in the industry. Godrej Properties has received several accolades, including the prestigious “Development of the Year” award from the National Real Estate Development Council (NAREDCO). With over 100 completed projects, it stands as one of Indias top-listed real estate firms.

3. Phoenix Mills: The Phoenix Mills Ltd. has established itself as a prominent player in the Indian real estate sector, excelling in the development of mega retail malls, entertainment complexes, commercial spaces, and hospitality units. The companys operations encompass all facets of real estate development, including planning, execution, marketing, management, maintenance, and sales. Phoenix Mills boasts a diverse portfolio of real estate assets located in cities such as Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly, and Ahmedabad.

4. Prestige Estates: The Prestige Group is now synonymous with innovation in the real estate sector. The company has spearheaded numerous landmark developments and introduced several firsts to South India. With over 300 completed projects covering a developable area of more than 180 million square feet, Prestige Group is a significant player in the industry. The company currently has 56 ongoing projects across various segments, totaling 86 million square feet in developable area. Additionally, it plans to launch 43 projects spanning 85 million square feet and holds a land bank exceeding 728 acres as of September 2023.

5. Oberoi Realty: Oberoi Realty has perfected the creation of high-quality, sustainable lifestyle standards. For more than 40 years, the group has enhanced, uplifted, and inspired the daily lives of homebuyers through its innovative designs. Over the past four decades, Oberoi Realty has established an unmatched brand reputation through its aesthetic design and consistent quality construction, meeting international standards.

6. Brigade Enterprises: Since 1986, Brigade has been dedicated to shaping Indias real estate landscape with landmark developments across various sectors, establishing itself as a prominent industry leader. With a diverse portfolio encompassing residential, commercial, hospitality, and retail projects, Brigade has built a distinguished legacy marked by consistent excellence and superior quality. The companys industry leadership is rooted in its commitment to exceeding customer expectations. This customer-centric approach ensures that every Brigade development embodies the highest standards of elegance and sophistication.

7. Signature Global: Among the leading real estate companies, Signature Global has emerged as a standout player, making a significant impact on the industry. Listed just last year, the company has rapidly gained the trust and admiration of homebuyers and investors through its outstanding performance. Initially known for its affordable housing solutions, the company has successfully transitioned into the premium housing segment with the launch of two consecutive high-end projects: Deluxe DXP and Titanium SPR, which have set a new benchmark in Gurugrams real estate market with record sales exceeding Rs. 3600 crores and 2700 crore respectively.

Signature Global has delivered an impressive 10.4 million sq. ft. of housing area to date and has a robust pipeline of approximately 32.2 million sq. ft. of saleable area in upcoming projects. Additionally, the company has 16.4 million sq. ft. of ongoing projects slated for execution over the next 2-3 years. In FY24, Signature Global achieved sales bookings totaling Rs. 72.7 billion, reflecting a remarkable sales CAGR of 62% from FY21 to FY24. Looking ahead, the company projects sales of Rs. 100 billion in FY25 and anticipates revenue recognition of Rs. 38 billion.

8. SOBHA: Since its inception, SOBHA Limited has consistently aimed to set new standards in quality, customer focus, business ethics, and transparency. This steadfast commitment has established the company as the most preferred real estate brand in India. For over three consecutive years, SOBHA has been recognized as the top brand in the Indian real estate sector. Additionally, the company received top honors in India’s first-ever Real Estate Best Practices audit report in 2017 by Track2Realty.

9. Anant Raj: Anant Raj Limited boasts a rich legacy of over fifty years, dedicated to transforming the real estate landscape. With its headquarters in Delhi, the company is recognized as one of the leading real estate developers in the country. Established in 1969 as a construction company, Anant Raj has executed major projects for the Delhi Development Authority (DDA) and other government bodies. Over the years, the firm has ascended to become one of the largest real estate developers in the Delhi and NCR region. Anant Raj takes pride in owning one of the most extensive land portfolios in the Delhi NCR area and maintaining a presence in nearly all facets of real estate.

10. Valor Estate Limited: (formerly known as D B Realty Limited), founded in 2007, has in a short span of time covered enormous ground, thereby establishing its place as a leading real estate developer in India. While company’s growth story is rooted in facts and figures, its legacy will be built on a strong reputation of excellence in residential, commercial and gated community developments. This is why, even during these challenging times, they remain deeply committed to their mission of creating superior developments in each of our market segments, and fulfilling promise to all of stakeholders.

The Company’s expanding portfolio consists of over 100 million sq. ft. of prime property – carefully crafted by 15,000 experts and managed by over 500 internationally and nationally acclaimed executives- across 35 exclusive projects that have served close to 20,000 satisfied customers till date. Most of the projects are based in and around Mumbai, and are under various stages of planning and construction.

These companies have not only dominated the market but have also set benchmarks for quality, innovation, and customer satisfaction. Their contributions are pivotal in driving the growth of the Indian real estate sector, which continues to thrive and evolve. With the Indian real estate sector expected to reach a value of USD 1 trillion by 2030, the performance of top listed realty firms will be pivotal in shaping the industrys future.

G Square Pavillion in SP Koil 624 residential plots spread across an overall land area of 34.53 acres with 50+ world-class amenities

G Square Pavillion is located just minutes from SP Railway Station and close to the Mahindra World City

G Square, South India’s largest plot promoter today announced the grand success of its latest project, G Square Pavillion in Singaperumal Koil. This prominent project, situated on the Oragadam Bypass and adjacent to GST Road, is recognized as Tamil Nadu’s largest sports-themed plotted community.

G Square Pavillion in Singaperumal Koil

The DTCP-approved and RERA-registered project consists of 624 residential plots spread across an overall land area of 34.53 acres with 50+ world-class amenities in a secured community. G Square Pavillion is also noted for benefitting from some of the city’s most prime developments such as:

Presence on the Singaperumal Koil Overpass Bridge:

The SP Koil Overpass will connect GST Road with the Oragadam Bypass, linking the IT hub on GST Road with the automobile hub in Oragadam-Sriperumbudur stretch and simultaneously spurring growth on the unfledged right side of SP Koil, similar to the history of Urapakkam, Vandalur, Kilambakkam, Guduvanchery, and Kattankalathur.

Proximity to GST Road:

Chennai’s only road that offers rail, road, metro, and airport connectivity with connectivity to the Outer Ring Road, Chennai Bypass to Kolkata Highway, Vandalur-Kelambakkam Road-which bridges the GST road to the IT corridor ECR-OMR stretch.

Easy access to Chennai Peripheral Ring Road (CPRR):

One of the major ring roads that connects the trade route from Ennore to Mahabalipuram, reducing travel time between the endpoints significantly.

Direct connection to the Kilambakkam Bus Terminus:

One of the city’s biggest transit points along with CMBT Bus Terminus which operates both inter and intra-state transportation.

Proposed Tambaram-Chengalpet Elevated Corridor:

A major 6-lane elevated road which starts at Perungalathur and extends beyond the Paranur toll plaza, reducing traffic congestion and road accidents on GST Road. The elevated corridor will have entry and exit ramps at Kilambakkam Bus Terminal, SRM Potheri, and Mahindra World City and will significantly ease traffic near SP Koil.

Presence of multiple industries:

Singaperumal Koil hosts a cluster of major automobile and tire industries, including Mahindra, Renault-Nissan, Ford, and BMW. The area also accommodates significant IT hubs and communities with companies like Mahindra World City, Zoho, Capgemini, Wipro, and Infosys.

Speaking on the launch, Mr. Bala Ramajeyam, Managing Director, G Square Realtors Private Limited said, “Singaperumal Koil is currently one of the most sought-after locations in all of Chennai. The location is situated amidst numerous major city developments and as a result, will experience massive appreciation and demand in the coming years. It is currently the gateway of the city from down south and is connected to all the major road networks of Chennai, with all modes of transportation available. The locality also has another unique feature where it has the presence of all sorts industries including Automobile, IT, Education, Healthcare, Hospitality, Entertainment and much more making it the most prime hotspot of the city and home for all locality.”

He further added, “G Square Pavillion is situated right in the middle of all these developments, it is just minutes from the railway station and also extremely close to the Mahindra World City. Building your dream home in a happening locality like SP Koil, especially at a reasonable price like this is something one should not miss because once the developments are fully operational, the prices will be sky high.”

G Square Pavillion is currently being sold at a best-in-the-market price of Rs. 2799/ sq. ft. as an early bird offer.

For more details visit www.gsquarehousing.com

About G Square

G Square is South India’s No.1 Real Estate Developer that brings to you a lifestyle-defining curation of upscale selections to choose from. Our proactive and keen sense of identifying opportunities has helped build many dream houses and iconic businesses within G Square’s secured communities. Over 10000+ happy customers have trusted the transparent and hassle-free ownership of land in South India’s most potential addresses with G Square’s easy housing transactions.

Spread across Chennai, Bengaluru, Hyderabad, Coimbatore, Trichy, Hosur, Mysuru, Ballari, Dindigul, Ambur, Theni, Tirupattur and Udumalpet over the past 10 years, we have delivered the most lucrative investment lands with world-class amenities in G Square’s secured communities. With “2 Years of Free Maintenance” and all essentials covered, we aim to empower families and businesses to build the next chapter of their life on land they own.

Leading real estate developer M3M has leased 220,000 sq. ft. in Gurgaon’s to Flexible workspace provider Incuspaze in their boutique office project – M3M Urbana Premium on the Golf Course Extension Road, people aware of the deal said.

M3M leases 220,000 sq. ft. to flexible workspace provider Incuspaze at M3M Urbana Premium, Gurugram

“M3M is looking at Office leasing as a major drive this year and aims to lease 20 lakh sq. ft. of Grade-A office space in the most sought-after locations in Gurugram. As part of this focus, we have signed a mega deal with Incuspaze – a leading flexible workspace provider where 2,20,000 sq. ft. space has been provided on lease to them,” said Sudeep Bhatt, President M3M.

In a major strategic move M3M is looking at keeping the premium office space as owned asset class to focus better on providing the finest workspaces to the rising demand in office space segment this year. M3M today has an impressive portfolio of 56 projects spread across Gurugram, Noida and Panipat with a staggering area of 6 mln sq. ft.

Flex workspace market is expected to grow from 55 million sq. ft. to 100-140 million sq. ft. by 2030. “The Golf Course Extension Road and Udyog Vihar locations are pivotal for businesses looking for connectivity and convenience,” said Sanjay Choudhary, Founder & CEO, Incuspaze. The transaction is followed by 600,000 sq. ft. company leased last quarter across three cities and flexible space operator continue to expand on the back of growing demand.

Incuspaze operates across 44 locations in 18 cities with a total portfolio of 3 million sq. ft. “Following the resilience shown by the office sector, we foresee a positive outlook for 2024. The growth is driven by multinational companies and Global Capability Centres, with an enduring presence of a skilled talent pool attracting a broader spectrum of companies,” said Sanjay Chatrath, managing partner, Incuspaze.

The rise of flex office spaces in India has been a significant trend in recent years. One of the major advantages of flex office spaces is the ability to scale up or down as per the business requirements.

“M3M has been developing its commercial portfolio keeping all our clients’ requirements in mind. All our commercial properties are best in class and situated at strategic locations in NCR,” said Sudeep Bhatt, President, M3M India.

Incuspaze has also leased 350,000 sq. ft. in Gurgaon’s Udyog Vihar in addition to 150,000 sq. ft. in Pune and 60,000 sq. ft. in Jaipur as it is looking to add 1.5 million sq. ft. in 2024.

Additionally, traditional office spaces in prime locations often come with high rents and long-term lease agreements. Flex office spaces offer a more cost-effective alternative, as businesses can rent only the space they need for a specific period, avoiding hefty upfront costs and long-term commitments.

The real estate industry in Delhi NCR has witnessed major change in the past few years. While the capital city continues to boom in economic and infrastructural areas, the emergence of Tier 2 and Tier 3 cities in its vicinity is soaring as a pathbreaker, especially in the real estate market. With rapid urbanization, better infrastructural development, enhanced economic opportunities, and higher quality of life, these smaller cities are not only catching the eyes of homebuyers but also exciting developers who are eager to seize the opportunities in this potential real estate market. The development of the “Golden Ring“, i.e., a connected network encircling Delhi-NCR, further led to the expansion of Tier 2 and Tier 3 cities such as Bahadurgarh, Sonipat, Alwar, Meerut, and Manesar. These smaller cities provide exclusive investment opportunities, with special focus on enhancing the road connectivity and being equipped with developed amenities.

The Select the new Phase in Royal Green County, Bahadurgarh

According to the CBRE report, Tier-2 & Tier-3 cities of India experienced a remarkable increase in investment, with capital flows more than doubling in 2023. Developers are drawn to these cities for land acquisition due to the robust increase in demand for real estate projects across the country. Moreover, the capital flows hit a record of $1.3 billion, up from $600 million in 2022.

Enhanced Connectivity-

The new Delhi Metro corridor approved by the Union Minister, from Inderlok to Indraprastha, will enhance connectivity with Tier 2 and Tier 3 cities. According to real estate experts, this improved connectivity will stimulate investment in both commercial and residential projects in these areas. Property values are expected to rise significantly near this metro corridor. Bahadurgarh, well-connected to NH-10 and Jhajjar Road, is poised to become the next preferred destination for real estate investment. It is also linked via the Kundli-Manesar-Palwal Expressway. Furthermore, Bahadurgarh and surrounding cities are in close proximity to Delhi. The Delhi-Bahadurgarh-Rohtak highway, KMP Expressway, and UER2 connect the region to all major cities and districts in Haryana and Delhi-NCR. The area also enjoys excellent railway connectivity, with Bahadurgarh serving as an important railway station.

Social Infrastructure-

Bahadurgarh city and surrounding tier 2 & 3 cities boast an impressive social infrastructure, catering to the needs of both buyers and investors alike. Notably, the region hosts Asias biggest footwear & Industrial park and is home to some renowned companies such as Relaxo, BNG Fashion, Yokohama, and Aqualite. Balaji Action Cancer Hospital, the upcoming Minerva Mall, Maharaja Agarsen Medical University, etc situated close to the city enhance the appeal of the area. Furthermore, some of the renowned developers, such as Royal Green Realty, TATA, Omaxe, Essel Realty, HL city, and few others have ready-to-move and upcoming luxurious & premium townships with product varies from villas, plots, and first-time SCO spaces. With UER in place the travel time to the IGI airport has been reduced to half an hour from these townships. Moreover, the city is also witnessing a population surge, particularly among millennials and young professionals from Delhi, drawn by its proximity to offices, excellent connectivity and social infrastructure.

Talking about the real estate growth in Bahadurgarh City, Yashank Wason, Managing Director, Royal Green Realty, said, “Bahadurgarh city considered as a premier destination offers exceptional residential developments, unparalleled location and a wide array of amenities. The region has excellent connectivity to rail anf road networks with Bahadurgarh as an important railway station. Furthermore, Delhi-Bahadurgarh-Rohtak Highway and KMP Expresway connects to all the important cities of Delhi-NCR. At our township, we offer expandable villas, plots, and first-time in Bahadurgarh SCO spaces equipped with top-notch amenities such as smart security & monitoring, a smart outdoor landscape, state0of-the-art club house equipped with all modern amenities lie swimming pool, a kids play area, restaurant, and much more that will enhance the standard of living of our residents.“

New Opportunities Unveiled:

With improved connectivity and rising property values, Bahadurgarh and other Tier 2 & 3 cities are evolving into hotspots for developers. This opens up exciting new opportunities for commercial development, marked by the emergence of Shop-Cum-Office (SCO) spaces. This innovative concept combines retail and office spaces within a single unit, transforming the commercial real estate landscape. This diversification in the commercial real estate sector provides businesses with a wide range of options tailored to meet the industrys needs. With a strategic location, these spaces hold immense appeal for SMEs, further cutting costs and streamlining operations in Tier 2 cities.

On this, Mr. Wason, further adds, “Our first-time Shop-Cum-Office (SCO) spaces in Bahadurgarh will offer cost-effective solutions and increased convenience for businesses. The SCO spaces are increasingly becoming the retail future as they provide a unique blend of retail and office space which caters to the changing needs of the real estate sector. Moreover, these spaces in Tier-2 cities, such as Bahadurgarh, are attractive for SMEs due to their strategic location, offering both retail and office space in one building and reducing costs. Companies can benefit from shared infrastructure and facilities, such as common areas and parking spaces, among others. These spaces are poised to make a positive impact on the local economy, generating numerous job opportunities. Moreover, their proximity to the airport and other prominent landmarks makes them a convenient and accessible destination for businesses and customers.“

Future Outlook:

The Indian economy is set to undergo rapid urbanization of approximately 50% by 2050, which will encourage more developers to expand their footprints in these markets. Finance Minister Nirmala Sitharamans recent announcement during the interim budget 2024 underscores the governments steadfast commitment to infrastructure upgrades & building connectivity nationwide. This significant move will benefit the real estate industry, not just in major cities but also in Tier 2 and Tier 3 cities across the country.

In recent years, the residential sector has witnessed a significant shift away from the “Uberisation” trend, where renting was preferred over owning homes. This trend, which mirrored the disruptive influence of ride-sharing services like Uber in the transportation industry, gained momentum particularly among younger generations who prized flexibility and were wary of long-term commitments associated with homeownership. However, recent data and insights suggest a notable change in consumer preferences post-COVID, indicating a resurgence in the desire for homeownership.

The Decline of the “Uberisation” Trend in the Residential Sector

Anshul Jain, the Chief Executive for India & South East Asia at Cushman & Wakefield, highlights this shift. “The housing demand in India was quite muted from 2013 to 2019, with prices remaining stagnant. There was a significant inclination towards renting during this period, especially among youngsters who didnt want to commit to owning properties,” he stated in a recent video interview with PTI. “However, the COVID pandemic fundamentally altered this mindset. People realized the stability and security that comes with owning a home. The demand for larger houses and the low-interest-rate environment post-pandemic further fueled this trend,” he added.

This sentiment is echoed by industry leaders from major real estate groups. Mohit Goel, Managing Director of Omaxe Group, remarked, “The pandemic made people rethink their priorities. The value of having a stable and secure home environment became paramount. We have seen a significant increase in inquiries and sales as people look for long-term security.”

Similarly, Deepak Kapoor, Director of Gulshan Group, observed, “Flexibility was a major driver for renting. However, the uncertainty brought by the pandemic has shifted consumer preferences back towards owning homes. Theres a renewed sense of investment in ones future, which is driving the market.”

Rajjath Goel, Managing Director of MRG Group, provided further insight, “The Uberisation trend, while significant for a time, was always limited by the inherent desire for ownership, particularly in a country like India. The post-COVID era has underscored the importance of owning a home, not just as an asset but as a fundamental part of ones life and security.”

The trend is also corroborated by Ankush Kaul, Chief Business Officer of Ambience Group, who stated, “Weve seen a clear shift in the market dynamics. The demand for quality housing has surged, and consumers are more inclined towards reputed builders who can deliver on their promises. The Uberisation trend was never a permanent shift but a response to economic and social conditions at the time.”

According to market reports, the housing market in India has seen a sharp revival post-COVID. Sales reached an all-time high last year, with prices increasing by an average of 10 percent annually across eight major cities. In certain micro-markets, prices surged by 40-70 percent over the past two years. This growth is driven by end-user demand and a shift towards reputed builders with a proven track record.

Anshul Jain of Cushman & Wakefield notes that while there has been a steep rise in prices post-COVID, the market is expected to stabilize with nominal growth in the coming years. “We are near the peak of the market right now. The prices have risen sharply, but going forward, we can expect more stability and nominal growth driven by normal market parameters like inflation and steady demand,” he explained.

In conclusion, the residential sector is experiencing a decline in the “Uberisation” trend as the desire for homeownership resurges. The COVID pandemic has been pivotal in reshaping consumer priorities, emphasizing the security and stability of owning a home. As the market stabilizes, the focus remains on delivering quality housing to meet growing demand, reaffirming the enduring value of homeownership in India.

SKA Arcadia, by the renowned SKA Group, emerges as a beacon of architectural brilliance and visionary planning in Ghaziabad’s commercial real estate realm. Located along the main entrance of Wave City on NH-24, the commercial project is a testament to modern construction with a vision for sustainable development in the region. The project is based within the first Indian pre-certified Platinum-rated Green township, which promises to redefine the retail landscape with state-of-the-art facilities and architecture, offering visitors an exceptional retail landscape. The project’s strategic location ensures easy accessibility for all customers from various parts of the region, making it a coveted destination for locals and commuters.

SKA Arcadia

Furthermore, SKA Arcadia boasts a prime location advantage and a gamut of features that set it apart. Its two-sided open plot and a 150-and 40-meter front-facing main road ensure maximum footfall at the project. The project encompasses an array of offerings, including retail outlets and high-street shops, wide corridors, and double-height shops on the ground floor, promising a spacious shopping experience. Hence, the project’s modern architectural design and prominent amenities offer every retail outlet adequate space to present its products and services.

In addition, one of the key highlights of SKA Arcadia is its unparalleled connectivity. Its proximity to the 14-lane NH 24 Wave City ensures swift connectivity to Noida. Also, the catchment area in the vicinity includes densely populated residential townships like Wave City, Aditya World City, and Jaipuria, positioning SKA Arcadia into a flourishing market. Further, it is within a considerable distance from Delhi, making it a desirable choice for businesses seeking a central location. This prime location not only enhances its accessibility but also opens a gateway for business opportunities to engage in the broader market base.

Besides its strategic location, SKA Arcadia is well-connected to the posh localities of Ghaziabad and Indirapuram, further augmenting its appeal as a commercial hub. The project is 1 minute from the 8-lane Delhi-Meerut Expressway and 5 minutes from the proposed metro station. Further, it is 10 minutes from the Eastern Peripheral Expressway and 20 minutes drive from Noida Sec-62 and Greater Noida West. People living in Raj Nagar Extension can reach SKA Arcadia within 25 minutes, and those living in Anand Vihar, Noida Sec-18, and near Akshardham Temple can enjoy reach here within 35 minutes. Thus, this connectivity not only ensures a steady flow of footfall but also positions SKA Arcadia as an investment opportunity for businesses looking to expand their reach.

SKA Arcadia boasts state-of-the-art facilities that not only enhance the retail experiences of businesses but also elevate the customer experience. From reliable and fast Wi-Fi to fine-dine restaurants and a food court, it caters to the diverse needs of customers. The facility of round-the-clock power backup, escalators, elevators, and multi-level mechanical parking ensures convenience and comfort for both shoppers and retailers alike. Moreover, its smart features, such as advanced surveillance, smart metering, fibre optic connectivity, automated lighting, and smart parking, also offer a secure and technologically advanced environment, setting a new standard for commercial developments in the region.

However, what truly sets SKA Arcadia apart is its unwavering commitment to sustainability. As the world becomes eco-conscious, SKA Arcadia takes proactive measures to integrate sustainable development in every aspect. Initiatives like sustainable construction practices and designs, energy-efficient systems, green building practices, waste reduction strategies, sewage treatment plants, rainwater harvesting, and many other features, the project is curated to minimize its carbon footprint while maximizing efficiency.

Moreover, these sustainable practices underscore the SKA Group’s vision for sustainable development that extends beyond the confines of the project itself. Thus, the project aims to create a harmonious ecosystem that benefits everyone. It also ensures maximum space utilization and has incorporated amenities such as energy-efficient lighting and HVAC systems. Located amidst a lush green landscape with pop-up fountains, the project aims to reduce the building’s carbon footprint and minimize operational costs.

As SKA Arcadia continues to take shape, it is a testament to SKA Groups unwavering commitment to innovation, sustainability, and customer satisfaction. The group envisions a future where every project weaves a story of its commitment to quality, environmental stewardship, and social responsibility, enhancing the lives of its residents and the wider community. SKA Arcadia is not just a commercial project; it sets a new benchmark for the industry and inspires future generations to build a greener tomorrow.

In recent years, the Indian real estate market has undergone a remarkable transformation, particularly in the luxury housing segment. Factors such as rising incomes, growing aspirations for upscale living, and the premiumization trend have fueled a surge in demand for luxury properties. This boom is further propelled by the shortage of luxury apartments in prime locations and the preference for modern amenities and exclusivity.

Increasing demand for Luxury Real Estate in Non Metro cities

In the latest luxury housing segment, this boom is vividly illustrated by the success of numerous luxury projects near the capital. Consisting of more premium homes, the projects sold out in just days, with a quarter purchased by non-resident Indians (NRIs). This highlights the increasing role of NRIs in the luxury housing market, with their contribution accounting for nearly a fourth of total residential sales at large developers.

Meanwhile, in Tier-2 cities like Chandigarhs Tricity, Lucknow, Nagpur, and Surat, a different narrative unfolds. These cities are experiencing significant growth across diverse industries, presenting lucrative opportunities for real estate investors and developers.

Prateek Mittal, Executive Director of Sushma Group, emphasizes the importance of understanding the dynamics of these emerging markets: “Cities like Chandigarhs Tricity, Ludhiana, Lucknow, Nagpur, and Zirakpur are emerging as hotspots for real estate investment, driven by diverse industries. The increased income and desire for a lavish lifestyle is inspiring more inclination towards Holiday homes and premium residential properties. Our focus has always been to create premium quality products that cater to the growing aspirations of the buyers.”

Investors are eyeing properties beyond metro cities for their potential returns. However, its crucial to mitigate risks through meticulous due diligence. Motiaz emphasizes transparency in projects to ensure investor confidence.

Mukul Bansal, Managing Director of Motia Group, stresses the importance of due diligence in mitigating risks associated with investments outside metro cities: “As urban landscapes evolve, Tier-2 and Tier-3 cities emerge as the new frontier for luxury real estate, offering unparalleled opportunities for growth and investment. We emphasize transparency and legal compliance at the same time top notch quality in all our projects to ensure investor confidence.”

Royale Estate Group, emphasizes market researchs pivotal role in tapping into Tier-2 cities growth potential, to meet urbanization demands, ensuring alignment with market dynamics.

Piyush Kansal, Executive Director of Royale Estate Group, highlights the role of market research in identifying promising opportunities: “The growth trajectory of Tier-2 cities presents lucrative opportunities for real estate developers. Were leveraging insights from industry reports by JLL, Anarock, and Knight Frank to identify promising markets and tailor our projects to meet the evolving demands of urbanization.“

Highlighting sustainable developments role in building vibrant communities amid Tier-2 cities industrial and urban growth. Gillco Group pioneers sustainable practices for luxurious properties.

Tejpreet Singh, Managing Director of Gillco Group, underscores the importance of sustainable development in creating vibrant communities: “As Tier-2 cities witness rapid industrialization and urbanization, theres a surge in demand for luxurious residential and commercial properties. At Gillco Group, were pioneering sustainable development practices to create vibrant communities that align with the long-term vision of these burgeoning cities.“

In this landscape of evolving market dynamics, the luxury real estate sector in India is not only witnessing unprecedented growth but also a shift towards Tier-2 cities, where the fusion of luxury living and sustainable development is shaping the future of urban living.

Key Highlights:

Due to their proximity to Delhi, Sonipat-Panipat cities have benefitted from the spillover effect of Delhis rapid urbanisation and population growth.

Panipat’s geographical positioning as a transit hub ensures excellent connectivity to northern states, making it an attractive destination for businesses, industries, and professionals seeking well-connected cities for work and living

For Sonipat, an industrial agglomeration in the vicinity provides a conducive environment for real estate growth in the area, both residential and commercial.