Upbeat sentiments led the realty sector to end 2022 in high spirits

Source: Construction Week — 

2022 has been a great year in the history of the Indian real estate sector. After the setback of two years of slowdown, the real estate sector has gone through a tremendous transformation setting new record numbers in 2022. For the residential and commercial real estate segment of Delhi-NCR, 2022 has been a healthy growth year. The housing market witnessed robust growth in demand and new launches across top markets. Strong buyer sentiments are fuelling the housing segment’s growth.

Likewise, commercial real estate is also thriving, with the company’s aggressive expansion plans. Office space leasing in the first nine months of 2022 witnessed a 66% hike in which Bengaluru, Delhi-NCR, and Chennai were the major contributors to the space absorption. The commercial segment also stands as one of the most lucrative investment options since it yields great rental income attracting investors across geographies. According to an industry report, various multinational corporations are eyeing India for establishing data centre offices, particularly in Delhi-NCR in the next three years, stimulating commercial real estate investment and spurring the segment’s growth.