Kumar Satyaki
Joint Managing Director, Eden Realty Group
How was the year 2024 for the real estate sector and the company?
In 2024, the sector showcased remarkable resilience, driven by significant growth in luxury housing, commercial spaces, and co-working environments. Government initiatives supporting affordable housing, coupled with strong investor confidence, sustained the sector's momentum despite challenges such as oversupply. It was also an excellent year for Eden Realty.
What are the key achievements this year? What factors helped you to meet your targets for this year?
Our company made a substantial impact by selling over 1,100 residential apartments in 2024, aligning seamlessly with the industry’s growth trajectory. This achievement highlights our dedication to innovation, sustainability, and meeting evolving housing demands, laying the foundation for a greener and more inclusive future.
How was the trend in project execution/operations in the year?
In 2024, the residential real estate market experienced robust growth, particularly in the affordable and mid-income segments, driven by government initiatives like PMAY, which spurred demand in Tier 2 and Tier 3 cities. The shift to remote and hybrid work prompted many buyers to prioritize larger homes in suburban areas, boosting interest in integrated townships and residential developments beyond major urban centers. Simultaneously, the luxury housing market flourished, with high-net-worth individuals and foreign investors favoring premium properties in metro cities, often seeking spacious, sustainable, and thoughtfully designed homes.
What are the pain points and prevailing challenges in the sector when we enter the new year?
The real estate industry continues to grapple with escalating costs of raw materials such as steel, cement, and labour. Global supply chain disruptions, combined with domestic shortages, have driven up prices, impacting project budgets and timelines.
The dual challenge of rising material costs and labour shortages could lead to delays in project execution. Developers may face difficulties in meeting delivery deadlines, potentially resulting in customer dissatisfaction and financial strain.
How are you planning your year ahead? What are your goals and way forward?
India's real estate sector is undergoing transformative growth, projected to expand from $200 billion in 2021 to $1 trillion by 2030, contributing 13% to GDP by 2025. This growth underscores the sector’s critical role in driving economic progress and urbanization. Sustainability is taking center stage, with increasing emphasis on green building certifications, renewable energy, waste management, and energy-efficient systems to minimize environmental impact and enhance quality of life. At Eden Realty, we anticipate benefiting from this transformation and achieving significant growth in the years ahead.
