The Indian real estate sector is undergoing a transformative phase, shaped by shifting consumer preferences, technological advancements, and an increased emphasis on sustainability. Industry leaders reflect on the remarkable growth witnessed in 2024, driven by demand for luxury housing, integrated communities, and eco-conscious developments.
As the sector looks ahead to 2025, the focus remains on innovation, high-quality living spaces, and catering to the needs of both domestic and global buyers. From the rise of tier-2 cities as investment hotspots to the growing adoption of smart technologies and green practices, the future of Indian real estate looks poised for dynamic evolution.
Giving his views on this, Ankush Kaul, President-Sales, Marketing & CRM, Central Park, says, “In 2024, the high-end property market was defined by a shift toward sustainability and smart home technology, with eco-conscious developments and seamless tech integrations becoming key priorities. Integrated communities gained popularity, offering holistic living experiences, while demand for premium locations and strong infrastructure remained high. Privacy, security, and exclusivity also became essential, with buyers seeking advanced security systems and secluded spaces.”
Now 2025 promises to be a dynamic year for the high-end property market, with sustained demand for premium properties in well-established locations.
“Sustainability will remain a key focus, with buyers prioritizing green technologies and energy-efficient designs. The digital transformation of the sector will continue, enhancing property design, marketing, and purchasing decisions. We expect continued demand for hybrid properties and community townships, offering luxury experiential living, privacy, and security to discerning buyers. As the world becomes increasingly interconnected, non-resident buyers will remain a significant force in the luxury market, driving demand for properties with global appeal,” adds Kaul.
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The Indian real estate sector continues to demonstrate resilience and adaptability, fueled by urbanization, government support, and the rise of sustainable, technology-driven projects. Tier-2 cities are rapidly gaining ground as they become more attractive for residential and commercial investments, driven by urban migration, affordable living, and government infrastructure initiatives.
“These cities offer substantial growth potential, with increased demand for quality housing and business spaces. The Manglam Group has been at the forefront of this shift, with successful project completions that contribute to the region’s development. By focusing on delivering high-quality residential and commercial properties in emerging markets, Manglam has aligned its growth with the demand for sustainable, future-ready spaces,” says Amrita Gupta, Director of the Manglam Group and Founder President of CREDAI Rajasthan Women’s Wing.
Looking ahead to 2025, the real estate sector will continue to evolve with a strong emphasis on meeting consumer needs. “The focus will be on launching projects that integrate innovation, sustainability, and advanced technology. As tier-2 cities continue to develop, they will be a key driver of India’s real estate growth, offering a wealth of opportunities for developers, investors, and residents alike,” she adds.
Mohit Goel, Managing Director of Omaxe Group, says, “The year 2024 has been a transformative one for Omaxe and the Indian real estate sector as a whole. Our successful launch of the landmark project in Dwarka marked a significant milestone, reinforcing our commitment to creating world-class infrastructure that caters to the evolving aspirations of homebuyers. This year, we witnessed unprecedented growth in the luxury housing segment, driven by a surge in demand from discerning customers seeking exclusivity, superior design, and value-driven investments.”
With 2025 on the horizon, the sector is set to achieve remarkable progress, supported by a projected 7% CAGR and an anticipated 10% increase in residential property sales. “This sustained momentum reflects the growing confidence in the Indian economy and the increasing value placed on high-quality living spaces. At Omaxe, we remain steadfast in our vision to redefine urban living through innovation, sustainability, and excellence. The coming year will see us further enhance our portfolio to meet the dynamic needs of modern India, contributing meaningfully to the nation’s real estate growth story,” adds Goel.
The Indian real estate sector demonstrated remarkable adaptability in 2024, driven by a surge in residential demand, increased NRI investments, and a notable expansion in the luxury housing segment.
“At Axis Ecorp, we take pride in pioneering the concept of fractional ownership, which is reshaping how investors approach premium holiday homes. This innovative model not only democratizes access to luxury properties but also optimizes rental yields, making high-end real estate a lucrative and attainable asset class. Goa remains central to this strategy, with its growing appeal among domestic and international buyers and consistently strong rental returns. As we step into 2025, the outlook remains highly optimistic. We foresee the continued popularity of fractional ownership alongside robust growth in the luxury segment, setting new benchmarks for investor interest and market performance,” says Aditya Kushwaha, CEO and Director, Axis Ecorp.
Here we take a look at what some other developers said about the performance of real estate in 2024 and the industry’s outlook for 2025:
Ramani Sastri, Chairman and MD, Sterling Developers: “The Indian real estate sector exhibited resilience and growth in 2024 bolstered by robust domestic demand, burgeoning aspirations and series of government driven infrastructure initiatives and is gearing up for a promising future. Home buyer confidence is at an all-time high and this naturally urges consumers to invest in their dream homes as the overall climate is geared towards sustained demand. While the residential real estate sector continues to show robust performance in the existing interest rate environment, we definitely hope to see lower interest rates next year which will provide further impetus to real estate and other sectors. The sustained demand will solidify the sector’s upward trajectory well into 2025, cementing the Indian real estate market as a key driver of economic growth.”
Manas Mehrotra, Founder, 315Work Avenue: “The co-working industry has become more relevant than ever with the demand surging significantly in the recent times owing to numerous factors. Co-working spaces have emerged as the defining feature of India’s rapidly evolving commercial real estate market, reflecting the broader shift toward work culture, flexibility, collaboration, innovation, and sustainability. The demand has gained greater traction with corporates and MNCs continuing to make a beeline to coworking spaces that have emerged as strong centres of growth. While major metro cities have been the key markets for co-working spaces, there’s a growing demand in tier-2 and tier-3 cities too, making the market more diverse. While co-working spaces continued to perform well in the recent past, we believe the share of coworking in the overall leasing of flex space is set to grow further and play a pivotal role in 2025 and beyond. As India’s workforce is becoming increasingly mobile, co-working spaces are well-positioned to cater to this dynamic shift with niche offerings. The demand for co-working spaces is expected to grow at around 20 per cent over the next two to three years.”
Vikas Aggarwal, COO, Worldwide Realty: “India’s real estate sector continues to demonstrate robust growth and resilience, supported by dynamic market forces and progressive government policies. Projected to achieve a trillion-dollar valuation by 2030, 2024 has already witnessed significant strides in affordability initiatives, commercial innovation, and sustainable practices. Landmark schemes like the Pradhan Mantri Awas Yojana (PMAY) have amplified housing accessibility, spurring growth in the residential segment and catering to diverse demographics. Simultaneously, the rise of flexible office spaces reflects the sector’s adaptability to hybrid work models and the growing demand for co-working setups. Looking ahead to 2025, the focus will shift to enhancing urban infrastructure and catalyzing growth in Tier 2 and 3 cities, unlocking fresh investment opportunities. With a dual emphasis on technology-driven solutions and sustainable construction practices, the sector is poised for steady and impactful progress, solidifying its status as a cornerstone of India’s economic growth.”
Vivek Sinha, Director-Sales & Marketing, KDMG Group: “2024 has been a transformative year for the real estate sector, with noteworthy progress in residential, commercial, and infrastructural developments. The adoption of sustainable practices, the growing integration of technology, and the emphasis on uber-luxury housing have reshaped consumer expectations. Key commercial hubs witnessed robust growth, driven by evolving business needs and hybrid work models. Infrastructure advancements, particularly in tier 2 and 3 cities, pave the way for long-term growth. The coming year is poised for a dynamic future, marked by innovation, digitization, and eco-conscious development, ensuring real estate continues to be a cornerstone of economic progress.”