CRISIL Ratings - residential real estate sales in India will increase by 8-10% in 2023-24. - infrabuddy.com

CRISIL Ratings – residential real estate sales in India will increase by 8-10% in 2023-24.

Despite rising interest rates and asset prices, residential real estate developers in India’s biggest cities are likely to record 8-10% sales growth in the fiscal year 23-24, according to CRISIL ratings in a research.

Strong residential demand in the mid, premium, and luxury segments has resulted in significant sales growth over the last two fiscal years. According to the report, sales by the 11 largest and publicly traded real estate developers increased by 50% year on year last fiscal year.

“Healthy economic growth and offices continuing with the hybrid working model are keeping demand for residential real estate steady this fiscal year, particularly for larger and premium residences,” stated Aniket Dani, Director of CRISIL.

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