The real estate sector in India has been a key driver of economic growth, and in 2024, it continues to capture the attention of investors. Real estate stocks, particularly those from large developers, have seen significant interest due to the sector’s recovery post-pandemic.
The sector’s resilience is backed by growing demand for residential, commercial, and industrial properties across major cities, making it a potentially lucrative investment option. With favorable government policies and urbanization trends, the real estate sector in India is poised for sustained growth.
Growth Prospects in Real Estate Stocks
Real estate stocks are benefiting from strong demand in the residential segment, with a surge in affordable housing and luxury projects. Commercial properties, too, are seeing a resurgence with the return of office spaces post-pandemic.
Additionally, government initiatives like the Pradhan Mantri Awas Yojana (PMAY) and infrastructure development projects have further boosted the sector. The push for smart cities, improved infrastructure, and rapid urbanization contribute to positive growth projections for real estate stocks in the long term.
The Real Estate Craze in India in 2024
In 2024, India’s real estate market is witnessing a renewed craze, fueled by rising disposable incomes, low home loan rates, and urban migration. There’s a growing demand for both residential and commercial spaces, especially in Tier 1 and Tier 2 cities.
The rise of digital platforms and new-age marketing techniques has also transformed the real estate buying experience, attracting more investors and homebuyers. With these trends, real estate stocks are expected to remain strong performers in the Indian market, with robust growth potential.
Share Price
The shares of Purvankara Limited are currently trading at Rs. 376.3 down by 1% from its previous close of Rs. 380.15, although the share witnessed a massive recovery of 5% from its intraday low as it jumped from Rs. 369 to Rs. 382.35 in a matter of 15 minutes.
Recent Update
Puravankara Limited has acquired a 3.63-acre land parcel located on Kanakapura Road, Bengaluru, as part of its strategy to expand its presence in key micro-markets of the city. This acquisition is in line with the company’s focus on areas that offer strong infrastructure, connectivity, and residential demand, solidifying its position in the growing Bengaluru real estate market.
The land, located in Vajrahalli, will have a saleable area of 5.42 lakh sq. ft., with an estimated Gross Development Value (GDV) exceeding ₹700 crore. This move marks a significant step in Puravankara’s efforts to bolster its portfolio and capitalize on opportunities in high-demand locations.
Location of the Land
The land parcel is in a prime location on Kanakapura Road and enjoys seamless road and metro connectivity to prominent parts of the city. It is located 1 km from Thalaghattapura Metro Station on the Green Line of Namma Metro. J.P. Nagar, a well-established residential and commercial hub, is about 7 km away. The area also boasts robust social and retail infrastructure.
Management Commentary
Ashish Puravankara, Managing Director, Puravankara Limited, said: “We are excited to announce the acquisition of this land parcel at a prime location on Kanakapura Road, Bengaluru. This strategically located land parcel is in a micro-market with buoyant demand and low availability of land for development. Given its excellent connectivity and well-established infrastructure, it has significant potential for premium residential development. Our focus will continue to be on business development to replenish our land bank in such strategic locations with favourable demand-supply conditions.”
About the Company
Puravankara Group, headquartered in Bengaluru, is one of India’s most trusted real estate developers with a pan-India presence. With over five decades of expertise, the company operates through three successful residential brands—Purva, Provident Housing Limited (PHL), and Purva Land—catering to diverse housing and plotted development needs.
It also has Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary offering technology-driven construction solutions. The group has ventured into Grade-A commercial real estate, with nearly 3 million square feet under development, and Purva Streaks, an interior design arm, providing integrated design services. Its presence spans major cities like Bengaluru, Chennai, Hyderabad, and more.
Written By: Dipangshu Kundu
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