Pulse Real Estate Monthly Monitor: November 2024

The Indian real estate market in November 2024 showcased robust activity across various sectors and cities. The office sector demonstrated sustained demand, with most cities experiencing increased leasing momentum. Key markets like Bengaluru, Chennai, and Mumbai witnessed significant transactions, particularly in the BFSI, Manufacturing, and Technology sectors. The Outer Ring Road and CBD submarkets in Bengaluru, as well as the SBD OMR, SBD & CBD micro markets in Chennai, were notably active. In Mumbai, the SBD Central accounted for the majority of overall leasing volume.

The retail sector also showed positive trends, with increased take-up of retail space in shopping malls and high streets across most cities. Global retailers exhibited strong interest, particularly in Delhi, which continued to be the top preference for international brands. Prominent high streets and malls in Hyderabad and Chennai maintained steady demand, while Pune's retail leasing remained subdued. The residential sector presented a mixed picture, with new launches increasing in most cities, especially in the luxury segment. Markets like NCR saw strong launches in the luxury category, while cities like Chennai and Pune experienced more muted activity. Locations along Bellary Road in North Bengaluru attracted higher traction in launches.

What’s more? Dr. Samantak Das, Chief Economist and Head Research & REIS, shares his insights on ‘Elevating the Golden Years: A report on India’s Senior Living market landscape’ published by JLL.