This report includes analysis before and after the COVID-19 pandemic, with the final report also incorporating an examination of the impact of both the Russia-Ukraine war and COVID-19 on this industry.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3 percent. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
India residential real estate market is expected to grow at a significant CAGR in the forecast period, 2022-2026. The rapid urbanization of people in search of better job opportunities and quality living standards is creating the need to construct more residential spaces for comfortable living.
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Supportive government policies and schemes such as Pradhan Mantri Awas Yojna which is the scheme of the Union Ministry of Housing and Urban Affairs that aims to build the 20 million affordable houses in the urban areas is expected to contribute to the growth of the residential real estate market. The increase in the disposable income of middle-class families is increasing the affordability of consumers to buy houses and flats .
The government is providing tax deductions on interest on the housing loan and tax holidays for affordable housing projects. Also, the application of real estate, 2016 in the state of Jammu and Kashmir has enabled the citizens to buy non-agricultural land and property which is expected to fuel the growth of the residential real estate market in the next five years.
India residential real estate market is segmented into type, category, mode, regional distribution, and company. Based on the mode, the market can be bifurcated into online & offline. The online segment is expected to witness the fastest incremental growth in the forecast period, 2022- 2026. Growing digitization across the country to increase transparency and speed up the process of house allocation is expected to pave the way for the growth of the online channels to buy and sell residential spaces to consumers.
India residential real estate market: Segment Analysis-
The report has assessed the India residential real estate market The report also provides insights on market driver, challenges and key industry trends that are impacting the overall market.
Market Breakup By Type
New Construction
Resale
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Market Breakup By Category
Flats
Apartments
Individual Houses
Private Dwellings
Condominium
Townhouses
Market Breakup By Mode
Online
Offline
Regional Analysis
The report has been prepared after analyzing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political factors of the country. The team have closely analyzed the data of revenue, production, and manufacturers of each region. These analyses will help the reader to identify the key regions as potential worth of investment in the coming years.
Market Breakup By Region
North India
West India
Central India
East India
South India
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