India's real estate shows signs of recovery 🔥

India's real estate shows signs of recovery 🔥

Growth is finally returning to India’s real estate market, particularly in major urban centers, as 16 months into the pandemic millennial nesters realize the move-back-in-with-mummy-papa ain’t exactly working that great...

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Top 12 urban centers saw home sales volume spike 67% for the last quarter, unfazed in the face of the second wave. FYI, real estate volumes had dropped to nada same time last year, so the growth is a bit skewed, but even then the bump is quite rich.

Developers see confidence, and new launches have spiked too. ₹50 lakhs to ₹ 1cr bucket is the most popular category — hinting at professional class’ strength with all those savings from Work From Home put to use.

Big picture — state of the real estate market is a proxy for the non-tax-paying parallel economy in India, which even if you dislike it, is essential to the core India machine. Recovery is a good sign.