Strong Housing Demand in Indian Real Estate Market Spurs Call for Increased Supply

The Indian real estate market continues to witness robust housing demand with no signs of a slowdown, according to CREDAI. Despite a potential dip in sales due to fewer launches, consumer demand post-COVID remains high. CREDAI stresses the need for streamlined approvals, GST input credit, and revising affordable housing definitions.

Housing demand in the Indian real estate market continues to remain robust, with no signs of slowing down, as highlighted by realtors' apex body CREDAI (Confederation of Real Estate Developers' Associations of India).

According to the association, while housing sales in a particular quarter may dip due to fewer launches, the consumer demand that surged post-COVID remains strong. CREDAI is currently hosting its flagship conference, 'CREDAI NATCON,' attracting over 1,100 delegates.

CREDAI National Chairman Manoj Gaur emphasized that there is no inventory because demand for residential properties from reputed developers at prime locations and competitive prices is enormous. Irfan Razack, CMD of Prestige Group, echoed this sentiment, stressing that demand is 'evergreen.' Both officials called for expedited project approval processes, inclusion of GST input credits, and redefined affordable housing measures to keep up with the ever-increasing demand.

(With inputs from agencies.)