Real Estate Sector Update - Residential Market To See Continued Recovery In FY22: ICICI Securities
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ICICI Securities Report
We recently hosted Mr. Anuj Puri, Chairman of Anarock Property Consultants for a Fireside Chat on India’s residential real estate market. Key takeaways are:
1. residential sales have again picked up momentum in the second half of June 2021 and are back to levels seen in September 2020 (50% of pre-Covid-19 levels) and are set for a strong bounce back in H2 FY22 similar to the pattern seen in FY21;
2. the consolidation story in favour of larger, organised players is expected to accelerate further and pan-India market share for these developers is expected to increase to over 60% in FY23E from 40% in FY21.
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