Godrej Properties CEO Gaurav Pandey, speaking at the FICCI real estate conference in New Delhi, highlighted a significant shift in India's real estate sector. He noted that the market share of the country's top 15 developers has doubled over the past five years, currently standing at around 19 percent. This trend indicates growing dominance by corporate developers, suggesting a shift in consumer preference toward established and branded builders.
Pandey further emphasized that the Indian residential real estate sector reached a record-high demand in 2024, with approximately 1 billion square feet sold. This milestone reflects strong market growth and increasing homebuyer confidence in larger, well-known developers. With evolving market dynamics, he expects further consolidation, where big players will continue to capture a larger share of the industry.
The CEO also acknowledged the challenges of operating in the housing sector, underscoring the complexities involved in real estate development. Despite these hurdles, major developers have successfully expanded their influence, benefiting from economies of scale, brand credibility, and regulatory compliance.
As the real estate landscape shifts toward organized players, this trend is likely to reshape market dynamics, offering buyers greater assurance in terms of project quality, timely delivery, and transparency. The ongoing consolidation reflects the sector’s maturity and growing preference for reliable, well-established developers in India’s competitive housing market.
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