India Residential Real Estate Market is expected to grow at a CAGR of 3.38% Through 2029

Increase in the expenditure capacity and the development of the construction industry is expected to drive the demand for India residential real estate market in the forecast period.

According to TechSci Research report, “Residential Real Estate Market - India Industry Size, Share, Trends, Opportunity, and Forecast 2030”, The India residential real estate market is expected to witness steady growth in the forecast period. Rise in the globalization across the world and the preference shift of consumers for the adoption of improved living standards is expected to influence the residential real estate market growth. An increase in the number of well-informed consumers and the rise in the number of upcoming construction projects is expected to fuel the market growth. An increase in the digitalization process across the country to increase transparency and speed up the process is expected to foster the residential real estate market growth. The high urbanization growth rate and the growth in employment opportunities are accelerating the sales of the residential real estate market. Development of the urban cities and the growth of the IT sector are attracting a large population to seek affordable houses in the urban cities. Growing industrialization to cater to the needs of the growing population is enabling the consumers to afford residential spaces. Development of the construction industry and the sale and buy of residential homes through the online platforms with the offering of discounts and offers for online payment is expected to foster the growth of the residential real estate market. 

Due to the ongoing pandemic COVID-19, the lockdown was imposed all over the country. A complete shutdown was observed, and people started practicing social distancing and started following the precautionary guidelines. Imposition of strict regulations and policies by leading authorities, the business had to suffer huge losses. People stopped spending on non-essential things which adversely affected the demand of the residential real estate market. The adoption of online channels for online payments and purchase property through the online sector to avoid getting infected with the coronavirus is expected to boost the growth of the residential real estate market in the next five years.

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Base on Category, Individual Houses or Private Dwellings segment will dominate the market in the forecast period, In the India residential real estate market, the category of individual houses or private dwellings is poised to dominate, driven by evolving lifestyle preferences, urbanization, and demographic shifts. Individual houses typically refer to standalone properties owned by a single entity or family, distinguished from apartments or multi-family dwellings.

One of the key drivers of the dominance of individual houses is the growing preference for privacy, space, and customization among homebuyers, particularly in urban and peri-urban areas. Many buyers, including families and high-net-worth individuals, opt for standalone houses to enjoy greater autonomy in terms of design, layout, and amenities compared to apartments.

Demographic trends also contribute significantly to the demand for individual houses. As nuclear families become more prevalent, there is a heightened demand for larger homes that can accommodate multiple generations or provide separate spaces for work-from-home setups and recreational activities. Additionally, the preference for homes with outdoor spaces, gardens, and parking facilities further fuels the demand for individual houses over other types of residential properties.

Urbanization plays a crucial role in shaping the dominance of individual houses in the market. As cities expand and urban sprawl increases, there is a continuous development of residential neighborhoods and suburban areas where standalone houses are preferred. These locations often offer a quieter, more suburban lifestyle while remaining accessible to urban amenities and employment centers, appealing to a broad spectrum of homebuyers.

Moreover, the COVID-19 pandemic has accelerated the demand for individual houses. The shift towards remote work and decentralized living preferences has led many individuals and families to prioritize homes that offer more space, privacy, and potential for home offices or study areas. This trend has amplified the appeal of standalone houses as viable alternatives to densely populated apartment complexes.

In terms of investment potential, individual houses also offer advantages. They are often perceived as a tangible asset with potential for value appreciation over time, driven by location attractiveness, infrastructure developments, and neighborhood growth. Investors and developers recognize the opportunities in catering to this demand through developments of gated communities, villa projects, and plotted developments that offer individual houses with modern amenities and infrastructure.

While apartments and high-rise developments continue to cater to specific market segments and urban densities, the dominance of individual houses in the India residential real estate market reflects broader societal trends towards autonomy, customization, and lifestyle preferences. As developers innovate with sustainable designs, technology integration, and community-focused amenities, the appeal of individual houses is expected to endure and expand, reinforcing their pivotal role in the country's evolving residential landscape.

Key market players in the India Residential Real Estate Market are:-

• Godrej Properties Limited 
• Prestige Estates Projects Ltd.
• DLF Limited
• Phoenix Mills Limited’s
• LARSEN & TOUBRO LIMITED
• Omaxe Group
• Ansal API Infrastructure Ltd.
• SOBHA Limited 
• Oberoi Realty Limited
• DILIP BUILDCON LIMITED

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“The government of India has launched several initiatives such as Atmanirbhar Bharat 3.0 and has allocated the Affordable Housing Fund to making housing schemes available and affordable for every citizen of the country. Developers are increasing the transparency in their systems to attract foreign investments to ensure the development of the residential sector. The upcoming project of the development of the 100 Smart cities for the up gradation of the urban infrastructure in India is expected to propel the demand of residential real estate market till 2030” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Residential Real Estate Market By Type (New Construction, and Resale) By Category (Flats & Apartments, Individual Houses or Private Dwellings, Condominium, Townhouses, and Others) By Mode (Online & Offline), By Region, Company Forecast & Opportunities, 2030” has evaluated the future growth potential of India residential real estate market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India residential real estate market.

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