The real estate sector has always been unpredictable. From fluctuating interest rates to shifting buyer preferences, regulatory uncertainties, and the rising importance of sustainability, the sector is in constant flux. Hence, leaders in the sector are adapting to these evolving dynamics and trends.

Agility and innovation have become absolutely necessary tools for real estate leaders in this competitive market. The pandemic, notably, reshaped the sector trends overnight, with buyers prioritizing larger homes with flexible spaces for work and leisure. Meanwhile, sustainability and wellness are emerging as key factors influencing purchasing decisions. Further, factors like macroeconomic and geopolitical forces are reshaping the sector in profound ways. Persistent inflation and rising interest rates have increased borrowing costs, making both residential and commercial property purchases more expensive. This environment challenges affordability and slows demand, pushing real estate leaders to rethink pricing strategies and explore creative ways to maintain customer interest.

Besides, the real estate sector is increasingly shifting towards sustainability, with leaders adopting eco-friendly building practices and energy-efficient designs. This shift reflects a growing awareness of the environmental impact, regulatory pressures, and demand from consumers and investors for more sustainable and responsible developments. To meet these demands, leaders are integrating green practices throughout the building lifecycle. Many new projects emphasize energy efficiency through smart systems, solar panels, and high-performance insulation to reduce carbon emissions and operational costs.

Additionally, there is a heightened focus on creating community-centered environments where residents can connect and engage with one another. The real estate sector now includes shared spaces like gardens, fitness centers, and communal lounges, fostering a sense of belonging. These spaces are carefully crafted to promote physical and mental well-being, providing residents access to healthy living options, such as outdoor activity areas, meditation zones, and eco-friendly designs.

Rajjath Goel, Managing Director, MRG Group says, “Real estate today demands that we look beyond conventional wisdom. As developers, we embrace innovation while staying grounded in our core values. At MRG Group, we’ve invested in green technologies that not only reduce carbon footprints but provide long-term cost benefits. Sustainability is at the heart of everything we do, ensuring that our developments contribute positively to the future.”

Harinder Singh Hora, Founder Chairman, Reach Group, says, “Amid the evolving consumer needs, adapting to change has become a necessity. At Reach, we believe in more than just functionality and offer a truly enriching experience for our customers. Our project’s design processes go beyond aesthetics and extend to a deep understanding of human behaviour. We develop spaces and offices that serve as invigorating grounds of collaboration and destinations that inspire a feel-good factor.”

Uddhav Poddar, Chairman and Managing Director of Bhumika Group shares, “In today’s ever-evolving work-life landscape, it’s essential for leaders to adopt resilient strategies that drive sustainable growth. By focusing on high-demand property types, we can help stabilize returns, especially in markets with consistently strong demand.

“At Bhumika Realty, our portfolio encompasses a wide range of thoughtfully designed residential, commercial, and mixed-use projects, all celebrated for their purpose-driven architecture and sustainable practices. Our unwavering commitment to quality, transparency, and customer satisfaction remains at the heart of everything we do. We are devoted to creating vibrant spaces that elevate the lives of their inhabitants, fostering not only functional, but truly meaningful living environments.”

Roshy Chhillar, Director, Landmark Group says, “Diversity in leadership plays an important role in innovation and relevance in real estate offerings. Female leaders in real estate bring invaluable perspectives that help shape more inclusive, community-focused housing solutions. Their leadership often emphasizes empathy, attention to detail, and a keen awareness of diverse lifestyle needs, all of which enhance decision-making and drive meaningful change within the industry. At Landmark, we believe in creating environments that support life, work, and well-being where people can thrive.”f

Looking ahead, through adaptive strategies, leaders are meeting the evolving needs of modern buyers. The drive towards eco-friendly, resilient, and inclusive developments reflects a commitment to both market relevance and responsible growth. As these leaders steer through economic, social, and environmental challenges, they’re not only shaping the real estate landscape but also contributing to a more sustainable and inclusive future.

Anjana Sastri, Director – Marketing, Sterling Developers

The luxury residential real estate sector is registering phenomenal growth in India through a desire to experience exceptional living environments and an enhanced emphasis on community and well-being. The ultimate luxury home is more than a property – it is a mix of individual and collective comfort that is propelling the market. The pandemic goes way back now, but the lessons it imparted hold great importance – as everyone realised the value of health, wellness, and safety, and hence luxury homes began to take centre-stage by redefining living standards geared towards an elevated calm.

Thriving micro-markets, a great investment incentive

While the high-end segment certainly provides a superior life and commune, investors see a sharp positive appreciation in thriving micro-markets in urban and suburban India, and hence see no serious fault-lines in premium home investments. In Bengaluru, this trend is especially evident. According to a CREDAI report, there has been a notable increase in new property launches in areas like the outer North Bengaluru micro-market, as well as around IT hubs such as Whitefield, where demand for spacious homes is rising. What makes these upscale investments particularly appealing is the combination of strong financial returns and enhanced living conditions. This creates a win-win scenario for investors, offering both monetary and lifestyle benefits.

Affluent, younger buyers driving luxury growth

Young affluent investors are increasingly allocating significant portions of their wealth to residential assets, as evident in the surge in sales of luxury homes which accounted for 25% of all residential units sold in the top seven Indian cities in early 2024. An increasing number of high-net-worth individuals, particularly millennials and non-resident Indians (NRIs), are driving this increased demand as they are keen to invest in India’s developing economy, reinstating real estate as one of the safest and most reliable financial options.

A desire for a world-class community feel

The modern affluent buyer seeks more than just a prestigious address – they desire a living space that enhances their quality of life and provides them with a community feel. The expected rise in demand from new age buyers and India’s growing trajectory promises great potential for this segment. The aspiration for an elevated lifestyle will continue to drive the development of state-of-the-art community spaces that offer something for everyone. In addition, the influence of international standards and culture will further enhance the offerings in luxury developments.

The value of social infrastructure

Community and gated living is good, but what is great is the access to all the essentials around it. People look for easy access to social infrastructure – schools, hospitals, retail and entertainment hubs that are in proximity and engage the residents. This was inadequate early on, but things have changed and virtually every urban space in India now ensures these are within reach of every resident, buyer and investor.

Desire for sustainable living

Sustainability is at the forefront of a luxury real estate customer’s checklist. The growing concerns over environmental impact, have made buyers extremely aware and conscious of their decisions to have homes with amenities and technologies that are comfortable yet sustainable. No wonder, green products both external and internal and sustainable energy have become part of communities that encourage sustainable practices and operations.

The digital and technology push

The evolution of digital infrastructure and tools have tremendously boosted the industry’s ability to reach out and interact with their customers worldwide. Virtual Reality and Artificial Intelligence have enabled developers to provide tailored experiences to their customers, giving them the opportunity to explore and discover multiple opulent real estate projects from the comfort of their home. Interactions between the developer and the customer are highly tailored to suit specific needs and are also more frequent owing to the ability to virtually connect.  Additionally, the ability to make financial transactions without physically being present has empowered customers to make timely decisions.

In conclusion, it can be said that as India continues to showcase a positive outlook, the faith and trust in premium real estate is bound to grow. The importance of owning a home has become key for most, and this has positively influenced the demand for residential real estate. As customers continue to fuel this growth, the focus is on developing unique projects that provide an elevated lifestyle. Going by the upbeat sentiments of the market, one can say with certainty that the luxury real estate market is bound to see great growth as we head into the future.

New Delhi, November 12, 2024 – Omaxe Limited, a leading name in the real estate industry, is set to host its top 500 channel partners in Bali for a five-day grand event, Omaxe Infinity & Beyond. This exclusive celebration, taking place from November 11th to November 15th, marks a first-of-its-kind event in the industry, honoring the exceptional dedication and contributions of Omaxe’s top channel partners.

Selected from Omaxe’s extensive network of 5,000 channel partners, the top performers from Chandigarh, Ludhiana, Bhatinda, Lucknow, Prayagraj, Vrindavan, Ghaziabad, Faridabad, Noida, Delhi, and Indore will enjoy an unforgettable experience that includes networking opportunities, immersive activities, and a spectacular Gala Night in Bali.

Omaxe Infinity & Beyond reflects the brand’s commitment to providing an extraordinary platform for channel partners to connect, network, and explore new growth opportunities. Inspired by the infinity symbol (∞), which represents boundless possibilities, this event highlights the limitless potential that Omaxe and its partners can achieve together.

The grand event will also feature exhilarating performances by renowned Bollywood stars, along with a captivating musical experience by a celebrated artist, adding to the evening’s excitement and making it a memorable celebration for all attendees.

Commenting on the event, Mohit Goel, Managing Director of Omaxe Limited, said, “Our channel partners are the backbone of Omaxe’s success. With Omaxe Infinity & Beyond, we want to celebrate their unwavering commitment and strengthen our relationships as ‘One Omaxe Family.’ This event is an opportunity for our partners to connect, collaborate, and explore future growth avenues. Together, we are setting the stage for a customer-focused and expansive Omaxe.”

This groundbreaking initiative underscores Omaxe’s dedication to nurturing collaborative partnerships, positioning the company as an industry leader in engagement and innovation.

Bengaluru, November 08, 2024: According to the Knight Frank report – Banking on Bricks, a survey of 1,629 Indian urban homebuyers revealed that 52% prefer apartments, followed by studio apartments at 19%, and independent houses or villas at 17%. Notably, gated communities and plots of land are less popular, chosen by only 7% and 5% of respondents, respectively. In terms of financing, about 79% of respondents indicated home loans as their preferred mode for purchasing a home.

Home ownership prevails amongst homebuyers:

Overall, 80% of respondents expressed a preference for owning a home with only 19% opting for renting and a mere 1% remaining uncertain. This sentiment is consistent across generations: 79% of Baby Boomers, 80% of Gen X, and 82% of Millennials favour homeownership, while Gen Z shows a notable difference, with only 71% preferring to own, and a high 27% leaning towards renting.

Source: Knight Frank Research

Reasons for purchasing a home – Investment vs End-Use:

Baby boomers favour investments but millennials prefer to upgrade their property. The reasons for purchasing a home show distinct generational difference. Millennials (39%) and Gen Z (36%) are leading the trend of upgrading and purchasing for end-use, while Baby Boomers display a stronger interest in investments (29%) and retirement plans (15%).

Overall, 37% of respondents are upgrading to a better home reflecting a growing shift towards mid-range and luxury housing which was traditionally concentrated in select cities but is now expanding to Tier 1 cities in India. The remaining 32% are first-time homebuyers for end-use, 25% are investing, and 7% cite other reasons, such as retirement or acquiring a second home or vacation home.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said “India’s real estate sector is not only pivotal to our economic growth, contributing significantly to GDP and employment, but also reflects evolving buyer preferences and financial support systems. Our latest survey highlights this continued preference for homeownership, with 80% of respondents aspiring to own homes and a growing trend toward premium properties, particularly in urban areas. As the BFSI sector facilitates this growth—offering home loans, investment avenues, and risk management tools—combined with emerging technologies and infrastructure advancements, we anticipate a resilient real estate landscape that aligns with India’s broader development goals.”

Balancing Aspirations and Practicality: Key Factors Influencing Homebuying Decisions:

Location stands out as a priority and is the determining factor for 50% of respondents, affirming its timeless importance in real estate. However, the near-equal emphasis is also provided on the property size and layout (45%), price and affordability (45%), which suggests that homebuyers are equally focused on securing value for their money while looking for spaces that meet their lifestyle needs.

Interestingly, the builder’s reputation (35%) and proximity to workplace (33%) play an important role, reflecting a strong demand for reliability and convenience, key factors that enhance buyer confidence in their long-term investment. Moreover, with amenities (32%) becoming more significant, buyers are not just purchasing homes, but are opting for enhanced living experiences, seeking integrated facilities like gyms, parks, or co-working spaces. On the financial front, financing options (29%) and future resale value (22%) highlights that affordability and long-term investment potential remain crucial factors in the decision process, particularly as more buyers gravitate towards high-end homes.

Home loans prevail as the most preferred mode of financing amongst surveyed homebuyers

Home loans is cited as the most preferred mode of financing across all income groups, with 79% of respondents relying on this option. However, there is a noticeable variation in how affluent homebuyers approach funding. While 83% of households earning between INR 1 mn to INR 5 mn prefer home loans, affluent buyers with household incomes above INR 5 mn show a higher inclination (19%) to utilize their personal savings or liquidate investments for home purchases compared to 11% in the less than INR 5 mn household income group. This suggests that wealthier individuals take a more flexible, diversified approach to financing, blending traditional home loans with personal resources to secure property.

In addition to financing, the survey sheds light on homebuyers’ expectations from banks and financial institutions during the homebuying process. The top priority for 74% of respondents is competitive interest rates, followed by flexible loan tenures (48%) and a quick loan approval process (38%). Guidance on legal and documentation aspects is also important for 25% respondents, and 15% of them value home insurance options.

Indian Idol Season 1 runner-up Rahul Krishna Vaidya has recently acquired a residential property valued at Rs. 9 crores in Mumbai, as revealed by registration documents reviewed by Square Yards. The newly purchased apartment is located in DLH Signature, a premium project by DLH Group, offering 3 BHK, 4 BHK, and 5 BHK units with an array of amenities across a sprawling 1.25-acre campus.

The project is located in Bandra West, which has seen a surge in celebrity real estate investments in recent months. Bollywood stars such as Sunil Shetty, Ranveer Singh, and Deepika Padukone, alongside sports personalities like KL Rahul with Athiya Shetty, have also acquired properties in this neighbourhood.

Bandra’s allure lies in its historic ties to Bollywood and sports icons, creating an exclusive, close-knit community. Its proximity to the film industry, production studios, and networking venues offers clear benefits for entertainment professionals. High-end residences, modern amenities, and excellent connectivity to the airport and business hubs make Bandra a preferred choice for high-profile individuals seeking premium residential spaces in Mumbai.

According to Square Yards, the apartment purchased by the Vaidya spans a carpet area of approximately 3,110 sq. ft. (~288.92 sq. m) and a built-up area of 317.93 sq. m (~3,422 sq. ft.). The transaction which was finalized in October 2024, incurred a stamp duty payment  and a registration fee .

Rahul began his career as a child artist, participating in various music shows such as Star Yaar Kalakaar, Aao Jhoomein Gaayen, and Chalti Ka Naam Antakshari. His musical journey took a major step forward with his appearance on Indian Idol in 2004. He also became a finalist in Bigg Boss 14 and Fear Factor: Khatron Ke Khiladi 11. In 2024, he participated in Colors TV’s reality show Laughter Chef, which became highly popular and captured the audience’s attention. Recognized for his versatility across genres, Rahul remains an active figure in India’s music scene, delivering engaging performances

The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the half year ended Sep 30, 2024, at its meeting held on Nov 04, 2024, in Chennai.

“Team Sundaram has delivered a balanced H1FY25 despite lower-than-expected economic activity in the half year. Assets under management grew by 20% to Rs. 48,058 crores compared to the prior year period. Net stage 3 assets closed at 0.89% and profit after tax for H1FY25 was at Rs. 648 crores. Our Group companies in asset management, general insurance and home finance have continued their trajectory from FY24 and recorded strong results. We continue to rely on our time-tested approach of steady and sustainable growth with best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman. 

Disbursements for H1FY25 recorded a growth of 3% over H1FY24. Gross stage 3 assets improved over the previous year. Gross stage 3 assets as on September 30, 2024, stood at 1.62% with provision cover of 45% as against 1.86% as on September 30, 2023, with provision cover of 42%. Core operations performed strongly with profit from operations up by 23% in H1FY25. Profits after tax was flat at Rs. 648 crores during H1FY25 and H1FY24 primarily due to a shift in the timing of dividend income last year. Dividend income was at Rs. 43 crores during H1FY25 as against Rs. 181 crores in H1FY24. Return on assets closed at 2.50% in H1FY25 as against 2.95% for H1FY24 and capital adequacy at 20.0% remains quite comfortable.

 

“Economic activity in Q2 was well below expectations with the monsoons disrupting consumption and government spending being slower post the general elections. The tepid economic activity was exacerbated by growing concerns on asset quality in the microfinance and unsecured lending sectors. With no exposure in these segments, we delivered a well-balanced performance in a tough operating environment, recording operating profit growth of 23%. Looking ahead, we remain cautiously optimistic of a recovery in economic activity in H2 as domestic consumption and private sector capital expenditure resume and the central government’s infrastructure spend and policy agenda gather pace. Team Sundaram will continue to remain sharply focused on delivering the Sundaram experience to our customers, our people and all stakeholders,” said Rajiv Lochan, Managing Director.  

STANDALONE PERFORMANCE HIGHLIGHTS FOR H1FY25 

• Disbursements for H1FY25 grew by 3% to Rs. 13,768 crores as compared to Rs. 13,430 crores registered in H1FY24.
• The assets under management grew by 20% to Rs. 48,058 crores as on 30^th September 2024 as against Rs. 40,106 crores as on 30^th September 2023.
• Net interest income grew 19.4% to Rs. 1,304 crores in H1FY25 from Rs. 1,092 crores in H1FY24.
• Gross stage 3 as on 30^th September 2024 stood at 1.62% with 45% provision cover as against 1.86% with provision cover of 42% as on 30^th September 2023. Net stage 3 as on 30^th September 2024 closed at 0.89% as against 1.08% as on 30^th September 2023.
• The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.39% and 1.55% respectively as against 2.89% and 2.06% as of 30^th September 2023.
• Profit from operations increased by 23% in H1FY25 as compared to H1FY24.
• Cost to income ratio closed at 32.27% in H1FY25 as against 35.18% in H1FY24.
• The dividend income was lower during H1FY25 at Rs. 43 crores as against Rs. 181 crores in H1FY24.
• Profit after tax was flat at Rs. 648 crores during H1FY25 and H1FY24.
• Return on assets (ROA) for H1FY25 closed at 2.50% as against 2.95% for H1FY24. Return on equity (ROE) was at 14.2% for H1FY25 as against 16.2% for H1FY24.
• Capital Adequacy Ratio stood at 20.0% (Tier I –16.4%) as of 30^th September 2024 compared to 19.9% (Tier I – 15.9%) as of 30^th September 2023.

CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR H1FY25 

The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.

• The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 72,541 crores as on 30^th September 2024 as against Rs. 60,578 crores as on 30^th September 2023, a growth of 20%. The assets under management of our asset management business stood at Rs. 76,845 crores as on 30^th September 2024 as against Rs. 61,884 crores as on 30^th September 2023, a growth of 24%.
• Profit after tax for H1FY25 grew by 18% to Rs. 871 crores as compared to Rs. 741 crores in H1FY24.

GROUP COMPANY PERFORMANCE HIGHLIGHTS

Our group companies continued to perform well.

• The asset management business closed the half year ended 30^th September 2024 with assets under management of Rs. 76,845 crores (around 85% in equity) and consolidated profits from the asset management businesses were at Rs. 68 crores as against Rs. 49 crores in H1FY24.
• Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 2,053 crores as compared to Rs. 1,818 crores in the corresponding period of the previous year, representing a growth of 13%. The Company reported a profit after tax of Rs. 126 crores for H1FY25 as against a profit of Rs. 145 crores in H1FY24.
• Sundaram Home Finance continued to grow strongly with disbursements up by 26% to Rs. 2,896 crores in H1FY25. The profit for H1FY25 was Rs. 111 crores, as against Rs. 117 crores in H1FY24.