In response to Samir Jasuja, Founder and CEO of PropEquity, properties priced above ₹2 crore are witnessing sustained demand as builders more and more align their launch pipelines towards this premium class.
Jasuja notes that whereas the broader market noticed a dip in exercise in latest quarters, a festive-season rebound pushed by decrease inflation, easing rates of interest, and beneficial tax measures is prone to elevate total sentiment and spur a quarter-on-quarter rise in gross sales and provide. Edited Excerpts –
Q) How is the general temper trying from consumers this Diwali? We’ve seen 100bps price minimize as nicely from RBI?
A) The homebuyers’ sentiments look upbeat in view of a low inflation and rate of interest and rationalisation of GST and revenue tax introduced by the Authorities.
Whereas the final quarter has seen subdued exercise, I believe a rebound on this quarter because of the festive season, which is predicted to drive stronger demand, resulting in improved launch momentum and the next absorption stage.
In prime 9 cities in Q1 2025, housing gross sales noticed 9% YOY decline and 15% YOY decline in launches. The second quarter noticed 23% YOY decline in gross sales and 34% YOY decline in launches. Housing gross sales in Q3 noticed 4% YOY and 1% QOQ decline.
I anticipate 10-15% QoQ gross sales and provide progress in This fall 2025.
Within the final festive quarter i.e. This fall (October-December) of 2024, 11,66,80 items have been offered (up 11% QOQ) and 10,11,69 items have been launched (up 12% QOQ).
Q) What sort of properties — luxurious, mid-income, or reasonably priced — are witnessing the best demand this festive season?
A) Over the previous few years, luxurious properties, particularly these priced upwards of Rs 2 crores are seeing heightened demand and this development has continued to solidify as builders have been realigning their launch pipelines to cater to this section.
Q) Are traders returning to actual property this Diwali, particularly given the rally in different asset courses like equities and gold?
A) Traders have total been cautious within the final a number of quarters throughout all asset courses together with actual property owing to correction from the highs witnessed post-pandemic.
Nonetheless, with the uncertainty surrounding the economies owing to ongoing commerce struggle, geo-political tensions, volatility in international monetary market and tech sector layoffs in India could have some repercussion on actual property.
Q) What’s your outlook for actual property demand and costs post-Diwali, particularly with the anticipated rate of interest cuts in 2026?
A) The housing market stays wholesome despite the fact that the brand new launches are coming down consecutively is as a result of the gross sales proceed to be larger than the brand new launches.
I anticipate that 2025 will mirror 2024 with roughly 4 lakh unit launches and roughly 4.5 lakh gross sales, which is marginally decrease than the 2024 numbers. Value progress, too, might be a tad decrease than final yr.
(Disclaimer: Suggestions, strategies, views, and opinions given by specialists are their very own. These don’t signify the views of the Financial Instances)
