THE YEAR 2022 was a phenomenal year for the real estate sector, particularly the residential segment. Why? Because there was robust housing demand, mainly from end-users, across the top cities and Tier-II and Tier-III cities. In the year's first half, job security had improved vis-a-vis the uncertain pandemic period, say experts.
There was robust hiring in the IT/ITES sector, though the second half brought more sobering news on this front. Financial services showed a good hiring graph throughout, says Anuj Puri, Chairman, ANAROCK Group, a leading real estate consultancy firm. "The Jan-Sept period already saw housing sales and new launches surpass the fullyear readings of 2019 with around 2.73 lakh units sold in the nine months period of 2022 and new launches at 2.65 lakh units.
Compared to this around 2.61 lakh units were sold in 2019 in the same period, with new supply in that year at 2.34 lakh units," says Puri.
"The mid-range (Rs 40 - Rs 80 lakh), premium (Rs 80 lakh - Rs 1.5 crore), and luxury segments (> Rs 1.5 crore) were the showstoppers of 2022. This will continue in 2023 as well," he adds.
Robust Growth
Total sales in top 7 cities to exceed 3.6 lakh units in 2022
Jan-Sept period housing sales, new launches surpass record
Affordable housing declines in 2022
Mid & Premium housing dominate launches
This story is from the December 31, 2022 edition of Businessworld India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 31, 2022 edition of Businessworld India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders
