{"id":323,"date":"2022-08-12T16:31:00","date_gmt":"2022-08-12T16:31:00","guid":{"rendered":"https:\/\/www.saldanha.in\/blog\/?p=323"},"modified":"2022-09-06T16:34:06","modified_gmt":"2022-09-06T16:34:06","slug":"indias-residential-real-estate-market-is-breaking-records","status":"publish","type":"post","link":"https:\/\/www.saldanha.in\/blog\/indias-residential-real-estate-market-is-breaking-records\/","title":{"rendered":"India\u2019s residential real estate market is breaking records"},"content":{"rendered":"\n<p>Source: Financial Express (<a href=\"https:\/\/bit.ly\/3RxZuYs\">https:\/\/bit.ly\/3RxZuYs<\/a>)<\/p>\n\n\n\n<p>India\u2019s residential real estate sector is increasingly embracing new concepts and innovative solutions to meet the needs of Millennial home buyers who are enthusiastic about homeownership.<\/p>\n\n\n\n<p>As per NITI Aayog, India\u2019s real estate market will reach $1 trillion by 2030 and account for 13% of its GDP by 2025, which illustrates the magnanimous streak of the sector.<\/p>\n\n\n\n<p>Additionally, in its latest quarterly report, Knight Frank stated that 78,627 residential units were sold in India in the January-March 2022 quarter, despite the third wave of COVID-19 creating havoc across the country. The report further states that units priced above Rs 1 crore accounted for a quarter of sales. Despite the challenges posed by the Omicron variant, the year 2022 brought good news for India\u2019s residential real estate market, breaking all prior records.<\/p>\n\n\n\n<p>The first financial quarter of 2022 witnessed a growing demand for large homes as people sought spacious homes that could complement their multi-functional lifestyle. After the pandemic-induced lockdown, buyers have realized the importance of having a dedicated work and study space, including a leisure corner. Investing in extra rooms, chic interiors, balconies, gyms, modern kitchenettes, and smart devices is becoming a proclamation for their modern lifestyle. This trend is expected to grow substantially for the rest of the year. Additionally, budget homes in the medium-price category are expected to experience increased demand from homebuyers, placing them at the forefront of project launches. What\u2019s more, luxury and ultra-luxury segments are also expected to witness increasing customer interest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The residential real estate sector in India has once again proved to be a bright spot by contributing to the country\u2019s overall GDP, thereby making the economy more vibrant and optimistic.<\/p>\n","protected":false},"author":1,"featured_media":317,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":""},"categories":[7,19,20,15,4,6,9,8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/323"}],"collection":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/comments?post=323"}],"version-history":[{"count":1,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/323\/revisions"}],"predecessor-version":[{"id":324,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/323\/revisions\/324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/media\/317"}],"wp:attachment":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/media?parent=323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/categories?post=323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/tags?post=323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}