On the new supply, the rating agency estimated that the new project launched in the top seven cities would increase by 6-9 percent to about 620–640 million square feet in the fiscal of 2025-26.
The rating agency said, “In 2024-25, 2024-25, after making the highest report in 701 million square feet in 2023-24, a fall of 14–17 percent in 2024-25,” said the rating agency cited its research as well as properi data.
Anupama Reddy, vice-president and co-group chief of corporate ratings in ICRA, said Anupama Reddy has fallen by 4-7 percent in the fiscal year of 2024-25, which could be 650–670 million square feet due to low launch.
“ICRA hopes that the area sold in the top seven cities in India will increase by 1-4 percent in FY 26,” said Reddy.
The rating agency has maintained a stable approach on the residential real estate sector. “Looking at the consolidation in favor of the big and established players in the region, the performance of these players is expected to perform better than the trends of the widespread built -in industry,” he said. The ICRA stated that the average selling price for the top seven cities saw a continuous content increase, in FY 23 and FY25 every 11 percent and FY25 has increased by 13-15 percent in FY25, which is operated by the sales of the luxury section as well as pricing flexibility for developers as well as comfortable YTS.
“ICRA expects average sales prices to rise by 3-5 percent in FY 26,” the statement said.
