In 2024, the real estate market solidified its role as a symbol of prestige, with opulent residences and premium commercial properties dominating the investment interests of wealthy purchasers. Fueled by heightened demand, innovative practices, and supportive government policies, a vigorous performance has profoundly altered the residential and commercial sectors, paving the way for continued expansion in 2025.
Residential Sector: The Pinnacle of Luxury Living
Luxury homes emerged as a dominant trend this year, catering to the rising demand from HNIs (High Net Worth Individuals) and NRIs (Non-Resident Indians). Prime urban areas saw an uptick in gated communities, villas, and condominiums, reflecting the aspiration for exclusivity and convenience. Moreover, tier-2 and tier-3 cities experienced increased traction as buyers sought spacious properties offering a better quality of life and connectivity.
Robin Mangla, President, M3M India, said, “2024 has been a landmark year for M3M India, marked by exceptional achievements in the uber-luxury real estate market and high-end commercial projects. Our unwavering focus on innovation and delivering world-class developments has solidified our leadership in North India’s real estate sector. We are pleased to report a notable sales achievement, with a 37% growth in the calendar year, primarily driven by sustained demand for our premium offerings. This year, our projects have set new benchmarks in architectural excellence, offering unparalleled sophistication and modernity. The rise in demand for high-end residences and integrated commercial spaces underscores a growing preference for luxurious yet functional living and working environments. As we look ahead to 2025, we remain committed to shaping the future of real estate with innovation, sustainability, and excellence at the core.”
On the other hand, the mid-income and affordable housing segments continued to benefit from government initiatives like the Pradhan Mantri Awas Yojana (PMAY) and reduced stamp duties in several states. These measures enhanced affordability and boosted buyer sentiment.
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Commercial Sector: A Surge in Mixed-Use Developments
The commercial real estate sector also thrived in 2024, driven by the resurgence of co-working spaces, expansion of IT parks, and high demand for retail spaces. Mixed-use developments combining retail, office, and residential offerings gained momentum, catering to the growing urban population’s need for integrated living.
Aman Sharma, Managing Director of Aarize Group, said, “As 2024 draws to a close,
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