New Delhi: Mumbai, Delhi-NCR, and Bengaluru are the primary drivers of wealth creation in India, according to the latest Grohe-Hurun India report. These cities dominate the landscape of real estate wealth in the country, said Anas Rahman Junaid, Founder and Chief Researcher at Hurun India.
The Grohe-Hurun India report highlights a significant surge in the overall value of non-state-run Indian real estate companies, marking a remarkable 70 percent growth which has also raised the threshold for entry into the top 100 companies by 30 percent, reflecting robust expansion and consolidation within the sector.
India is inching towards becoming the real estate capital of Asia, potentially surpassing China in sectoral growth with the combined value of the top real estate companies now at approximately Rs 14.2 lakh crore, CNBC-TV18 reported citing Junaid.
State of India Realty
He further elaborated on the evolution of wealth among India’s top realtors, noting a substantial increase in the entry barrier for the wealthiest. Over the past 6-7 years, the threshold to enter the top 10 wealthiest real estate firms has escalated from Rs 5,000 crore to nearly Rs 14,000-15,000 crore, underscoring the burgeoning prosperity within the sector. This also highlights the growing prominence of real estate as a key driver of economic wealth in India.
The Indian real estate sector’s growth is driven by:
Strategic investments
Urbanization trends
Favorable policy measures
India’s leading cities by real estate wealth creation
Mumbai, Delhi NCR, and Bengaluru with their thriving economies and substantial real estate developments, continue to lead the charge in transforming India into a global real estate powerhouse.
As India positions itself for accelerated growth in the coming years, stakeholders in the real estate sector are poised to capitalise on these opportunities, further solidifying the country’s status as a key player in the global economic landscape.
Mumbai, Delhi NCR, and Bengaluru are powering the domestic real estate sector to propel India into the real estate capital of Asia, overtaking China, according to the latest Grohe-Hurun India report. Business Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
