Luxury Real Estate Surge: Indian Market Sees 20% Growth

Sales bookings for India's major listed real estate firms surged by 20% to approach Rs 84,000 crore in the first three quarters of the current fiscal year, chiefly due to robust demand for luxury homes. The growth was evident among the top five players, who collectively accounted for 63% of total pre-sales.

Godrej Properties led the market with Rs 24,008 crore in sales bookings, followed by Prestige Estates and DLF Ltd with Rs 22,327.3 crore and Rs 16,176 crore, respectively. Mumbai-based Lodha Developers and Signature Global Ltd also made significant sales during this period.

Post-COVID, the increasing preference of homebuyers for brands with strong financial positions has helped listed developers gain market share. This trend saw a rise in the overall sales value, even as housing sales volumes reportedly declined, driven by luxury home transactions and price appreciation.