Market share of top 15 developers doubled in last 5 years: Godrej Properties CEO
Godrej Properties Ltd CEO Gaurav Pandey on Tuesday highlighted that the market share of the top 15 developers has doubled in the last five years to nearly 20 per cent and expects further demand consolidation towards big branded builders in the coming years. Addressing a FICCI real estate conference here, he said the housing sector is not an easy sector to operate in.
«At a very pan-India level, we are also noticing one more trend that corporate developers and top 15 developers are increasing market share. So, in the last five years, the market share has doubled for them and currently stands at about 19 per cent.
»I think this will increase, especially three years from today, when maybe the market might slow down because demand aggregation happens whenever there's some sort of market slowdown," Pandey said.
He highlighted that the last calendar year was very exciting for the residential segment of the Indian real estate sector.
«In 2024, the residential real estate in India did about 1 billion square feet of demand, which is the highest ever till now. So, I think 1 billion square feet is something which I had never imagined when I started my career in the residential sector. And to see that happening in the primary market alone is quite astounding,» Pandey said.
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