Residential sales surge to a 15-Year high in H1 2023

Mr Mohit Jain, Managing Director, Krisumi Corporation

In recent years, the luxury real estate market in India has undergone a remarkable transformation. The top residential markets in the country have consistently performed well, with sales witnessing an upward trend in the past few quarters. This growth can be attributed to the robust demand across all price brackets, particularly in the mid and premium housing segments. The strong desire to own properties and the stability in home loan interest rates have further fueled the sales momentum.

We have recently launched the second phase of our premium housing project “Krisumi City” at Sector 36A, Gurugram, which has garnered significant interest from buyers and investors. Besides positive market sentiment, the project’s unique design, theme, and prime location make it an appealing proposition for those seeking quality and long-term value in real estate. As a testament to this, we have received 600 cheques for the 322 apartments available in this phase.

Mr. Atul Bansal, Director Finance, Omaxe Ltd.

Various factors are contributing to this bull run — pent-up demand, people considering home ownership aggressively after the pandemic and the overall revival in the Indian economy.

The RBI’s decision to pause hike in repo rate in the last two monetary policy meetings have also helped in creating positive sentiments.

We expect the sales momentum to continue in the second half of the year riding on regular plus festive demand.