New Delhi, July 14 (IANS) Keeping up with the growth momentum in the Indian real estate industry, the domestic investors pumped in around $638 million (more than Rs 5,327 crore) in the real estate sector in the second quarter this year, from $127 million in the same period last year.
According to data from leading real estate consultant Vestian, institutional investments in the real estate sector surged 96 per cent in the April-June period to $3.1 billion, from $1.6 billion in the same period last year.
“The Indian real estate sector garnered significant investments in the second quarter of 2024, dominated by foreign investors as the looming uncertainty over the major economies of the world has faded away,” said Shrinivas Rao, CEO, Vestian.
According to the firm, foreign investors had the highest share of 71 per cent of the total investments in Q2 2024.
Industrial and warehousing sector reported a single large deal worth $1.5 billion, accounting for 48 per cent of the total investments received in Q2.
According to a latest Hurun report, with real estate companies worth $36 billion in 2024, India is accelerating to become the real estate capital of Asia.
Award winning real estate tycoon Kiran Khawaja, CEO, FajarRealty said, ” I totally agreee with Hurun report not only in India even in The UAE the Indians investors are really bullish about investing in the real estate and infact one of the leading investors in this side of the globe and their investments have provided boost to the real esate sector not only in India but in Dubai.”
Seen echoing the similar sentiments was Romaa’l Patel, Co-Founder, The Property and propertysnagging.ae states that Indian investors play not an important role in India but globally when it comes to property in particular, “Indian investors play a crucial role in the UAE property market due to their significant presence and contribution. With a strong appetite for real estate investment, Indian investors drive demand, boost market liquidity, and support property development projects. Their investments help diversify the market, stimulate economic growth, and enhance the overall stability of the real estate sector in the UAE.”
Residential sales in India are expected to grow 10-12 per cent in FY2024-25, according to the ‘2024 GROHE-Hurun India Real Estate 100’ report.
India is projected to add 200,000 km of national highways by 2037, fostering the growth of micro cities and further value addition by India’s real estate sector, he added.
–IANS
