We are 2.5-3 years into real estate cycle, have a runway of 3-4 more years: Anuj Puri

economictimes.indiatimes.com:

Anuj Puri, Chairman & Founder, Anarock Group, says real estate “sales across the board, across all the major cities and even the tier-2 metros, seems to be pretty robust. The good thing is this is not coming on the back of speculators or investors. This is coming on the back of end users, younger end users, who are really wanting to buy it whether it's for social security or for other reasons, wanting to buy the residential.”Developers in the NCR region have planned a slew of launches in the second half of the year. That is a phenomenal 2023. Could 2024 be a record year too because we have seen volumes coming out of that region are very strong. Do you see that trend continue?It is appearing like that.

The first half of the CY2023 has surpassed the first half of the CY2022. Sales across the board, across all the major cities and even the tier-2 metros, seems to be pretty robust. The good thing is this is not coming on the back of speculators or investors.

This is coming on the back of end users, younger end users, who are really wanting to buy it whether it's for social security or for other reasons, wanting to buy the residential.Coming to real estate demand, we have seen a pickup coming in post-Covid but beyond FY24, do you expect the demand to sustain at these levels? Where are we currently placed in terms of the cycle as well?Clearly this is a cycle. We are perhaps at the beginning to middle of the cycle. It appears that over the next 3-4 years, the demand will continue to remain strong.