INSUBCONTINENT EXCLUSIVE:
We are only in year four and there is a long, long way ahead to go before India has real estate at its rightful share in its economic mix" |
eligible for home ownership over the next 10 years, which, along with people seeking to upgrade their apartments, should create requirement
for as many as 100 million new houses, Abhishek Lodha, chief executive officer at Mumbai-based Macrotech Developers Ltd
said in an interview earlier this month
straight term on Sunday, has vowed to continue pushing growth especially in the housing and infrastructure sectors
Real estate consulting firm Knight Frank expects the demand for homes created by rising income levels to translate into $906 billion of
best year for home sales in at least 15 years
The momentum allowed Macrotech, which operates under the brand name Lodha, to report its highest ever quarterly sales in the three months
ending March.
In 2023 about 600,000 primary homes were built in India and even a fast pace of growth in the construction sector would
struggle to meet the demand for 100 million homes over this decade, he said.
Macrotech Developers, also best known for its gated
communities in upscale neighborhoods, last year entered tech hub Bengaluru and expanded in the city of Pune, about 150 kilometers from
The company is the second-biggest listed real estate developer by market value, after DLF Ltd
and its shares have risen over 43 per cent so far this year, compared with a 40 per cent climb in the NSE Nifty Realty Index.
Lodha said
We are only in year four and there is a long, long way ahead to go before India has real estate at its rightful share in its economic
