According to a report by Naredco s Maharashtra chapter and JLL India, housing sales in Mumbai are expected to surpass Rs 1 lakh crore this year and may reach Rs 2 lakh crore by 2030 due to increasing demand. The report highlights that Mumbai is one of India s largest residential markets, accounting for 40% of total residential sales value in the country.
Bengaluru will witness new supply of 4.97 million square feet by 2027, Chennai 6.23 million square feet, Hyderabad 5.48 million square feet, Kolkata 2.94 million square feet, Mumbai 4.5 million square feet and Pune 2.32 million square feet.
The listing of retail-led real estate assets through Real Estate Investment Trusts (REITs) has brought greater transparency to transaction and management structures. Developers are now recognizing the need to upgrade retail properties, focusing on factors like tenant mix and mall management to maximize asset monetization. Data from JLL India shows that over half of the retail assets in India with the potential to be listed as REITs are located in Mumbai and the NCR-Delhi region.
Kolkata witnessed strong demand for warehousing and industrial space in the first half of 2023, with net absorption of 1.3 million square feet, the fifth highest among the top eight cities in India, according to a report by JLL India. The report, "H1 2023 India: Logistics and Industrial State of the Nation", said that the cumulative Grade A and B supply in India s Warehousing and Industrial sector is expected to reach 516 million square feet by 2026 backed by strong international and domestic corporate investment intent and USD 1813 billion infra pipeline from 7532 projects.
In the first half of the year, net absorption or new leases stood at 15 million sq ft in the top eight cities of India. In terms of demand for warehousing, Mumbai, Pune and Delhi-NCR emerged as the top three locations in terms of demand during this period.