Authored by: Ramani Sastri – Chairman & MD, Sterling Developers
As we approach the festive season, we are already witnessing a surge in inquiries which will translate into healthy sales figures as we move deeper into the festive period.
We are expecting around 20% growth compared to last year’s festive season. We also hope that the RBI will reduce repo rate in the upcoming monetary policy which will give the real estate sector a reason to cheer at a time when it expects sales to further improve in the ongoing festive season.
There has already been a significant uptick in demand in the real estate sector this year driven primarily by burgeoning aspirations. The revival in market sentiment against the backdrop of accelerating economic activities makes this festive season more attractive.
Home buyer confidence is at an all-time high and this naturally offers a context for consumers to go in for their dream homes as the overall climate is geared towards sustained demand.
The market continues to experience end user-driven demand, and we are already witnessing a trend of more serious buyers closing sales. Rising homeownership amongst millennials supported by higher disposable income and willingness to upgrade to larger, luxurious spaces equipped with better amenities have also triggered a sharp growth in housing demand in the recent past. However, while investing in a property, buyers should not only look at the attractive deals but also consider the reputation of the developer and other factors like location, execution capability, and amenities that the developer has to offer.
Overall, the market outlook is certainly positive and given the confidence built this year, we do believe that markets will continue to see sustained growth over the next few years, providing appealing prospects for both first-time buyers and seasoned investors. The festive season will solidify the sector’s upward trajectory well into 2025, cementing the Indian real estate market as a key driver of economic growth.