Real estate market share of India's top 15 developers has doubled in last 5 years, says Godrej Properties CEO

Realty steadfast Godrej Properties Ltd CEO Gaurav Pandey connected Tuesday highlighted that the marketplace stock of the apical 15 developers has doubled successful the past 5 years to astir 20 per cent and expects further request consolidation towards large branded builders successful the coming years.

Addressing a FICCI existent property league here, helium said the lodging assemblage is not an casual assemblage to run in.

"At a precise pan-India level, we are besides noticing 1 much inclination that firm developers and apical 15 developers are expanding marketplace share. So, successful the past 5 years, the marketplace stock has doubled for them and presently stands astatine astir 19 per cent.

"I deliberation this volition increase, particularly 3 years from today, erstwhile possibly the marketplace mightiness dilatory down due to the fact that request aggregation happens whenever there's immoderate benignant of marketplace slowdown," Pandey said.

He highlighted that the past calendar twelvemonth was precise breathtaking for the residential conception of the Indian existent property sector.

"In 2024, the residential existent property successful India did astir 1 cardinal quadrate feet of demand, which is the highest ever till now. So, I deliberation 1 cardinal quadrate feet is thing which I had ne'er imagined erstwhile I started my vocation successful the residential sector. And to spot that happening successful the superior marketplace unsocial is rather astounding," Pandey said.

In worth terms, helium said this is similar adjacent to astir Rs 8.5 lakh crore of sales. About 75 per cent of this is mostly successful the apical 5 cities of India, which is fundamentally Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Hyderabad and Pune.

Pandey said this fund has been rather breathtaking for not conscionable existent estate, but for the system successful general.

"The full constituent of the taxation chopped the authorities has done, I deliberation it's very, precise radical. This volition decidedly springiness a immense boost to depletion demand. And from depletion demand, you volition person a trickle-down interaction connected galore much sectors. And residential is yet a beneficiary due to the fact that if radical consciousness much assured astir their jobs and economies, past they instrumentality a 20-year indebtedness to bargain a property," helium said.

Pandey welcomed the 25 ground points simplification successful repo complaint by the Reserve Bank of India.

"If the ostentation is successful check, we could beryllium successful for a bully surprise. There's a bully probability betwixt 50 ground points and astir 75 ground points; we could spot further cuts. And if that happens, effort and ideate what it does to the backstage capex cycle, not needfully conscionable location loans," helium said.

Raj Menda, Chairman of the Supervisory Board astatine RMZ Corporation, said the Indian bureau marketplace is connected a beardown maturation trajectory, acceptable for a robust 2025 pursuing record-breaking request successful caller years.

Further, helium said, "2024 was a milestone year, marking unprecedented absorption levels and a displacement towards an occupier-driven market. This momentum is expected to continue, with gross leasing projected astatine 65-70 cardinal sq.Ft. In 2025."