India's Realty Sector Sees Striking Sales Surge in September Quarter

India's real estate market witnessed significant growth in September, with 26 major publicly-listed firms recording sales totaling nearly Rs 35,000 crore. Notable performers included Godrej Properties and Macrotech Developers, while DLF Ltd faced a stark sales drop due to timing and regulatory issues impacting new launches.

In a remarkable upturn, India's real estate market has recorded sales of nearly Rs 35,000 crore in the September quarter, as reported by the country's 26 major listed firms. Leading the pack is Godrej Properties, which posted sales bookings of Rs 5,198 crore during this period.

The residential property segment spearheaded this surge, with Mumbai-based Macrotech Developers (Lodha brand) and Delhi-NCR based Max Estates also reporting strong sales figures of Rs 4,290 crore and Rs 4,100 crore, respectively. However, DLF Ltd saw a dramatic drop in bookings to Rs 692 crore due to no new project launches.

Analysts attribute the burgeoning sales to a post-COVID resurgence of homeownership demand and appreciated housing prices. Meanwhile, the realty sector continues to see a shift towards well-established brands, as buyers seek secure investments amidst past regulatory challenges with firms like Unitech and Jaypee Infratech.

(With inputs from agencies.)