Cautious Optimism Prevails in India's Real Estate Sector

Despite economic uncertainties, India's real estate market shows promise with 51% predicting higher sales. A Knight Frank report highlights optimism, tempered by cautious sentiment towards future launches and pricing. Key stakeholders maintain a positive outlook in both residential and office leasing markets, with economic resilience supporting the sector.

India's real estate market shows a cautiously optimistic outlook, with 51% of stakeholders predicting higher sales in the next six months, according to a Knight Frank report. The residential market remains buoyant, with 61% expecting more launches.

G Hari Babu, National President, National Real Estate Development Council (NAREDCO), acknowledged the activity in both residential and commercial markets. He noted that despite short-term challenges, stakeholders remain hopeful of sustained growth.

Office leasing activity is also recovering robustly, driven by positive business sentiments and economic revival. Shishir Baijal, Chairman of Knight Frank India, cited India's economic resilience and supportive monetary policy as key drivers, projecting a 7.2% GDP growth for FY 2025.

(With inputs from agencies.)