Home demand strong, but mellowing, says Pirojsha Godrej
residential properties remains «very strong» across major cities but the euphoria seen in the last few years is mellowing down a little bit, said Pirojsha Godrej, executive chairperson of Godrej Properties.
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Godrej Properties is one of the leading real estate developers in the country. It became the largest listed realty firm in 2024 in terms of sales bookings or pre-sales by selling more than '28,000 crore worth of properties.
In an interview with PTI, Godrej noted that there is no demand slowdown in the housing market, as reflected from the company's pre-sales numbers. «Am I seeing a slowdown in demand. The answer is 'No'. Because we have seen '500 crore plus sales in our new housing project launches in five different cities (during the December quarter) across North, South, West and East India. That to me is pretty indicative of a very strong housing market,» he said.
Pirojsha added: «But, I would say that some of that euphoria is perhaps mellowing down a little bit, particularly in Delhi-NCR… It has settled into a more sort of standard strong market.»
«Euphoria that was there 6-12 months ago seems to have cooled off a little bit, but demand remains very strong,» he observed. During the third quarter of this fiscal, Pirojsha highlighted that the company achieved sales of '500 crore plus in five new launches in five cities — Mumbai Metropolitan
