This article has been contributed by Mr. Jayesh Rajpurohit, Co-Founder & CEO Brick & Bolt
The real estate sector finds itself at a particularly interesting position with record pre-sale numbers, as listed developers are touting that they have recorded the best-ever quarter with total pre-sales growing 45% to INR 43,200 crore and achieving 31% of the targeted INR 1.4 lakh crore sales as per Kotak Institutional Equities. These statistics indicate strongly that Indian homebuyer preferences are undergoing a paradigm shift. They look at investment as a lucrative investment, but they also view it as a stepping stone for a better quality of life. Affordability does matter, but the average home buyer is looking for more.
The Indian real estate market has to meet this growing demand for homes that match the homebuyer’s lifestyle and offer long-term value and trust.
Pre-Sales Surge: A Mirror to Consumer Confidence
Pre-sales, or advance bookings of under-construction properties, are one of the most telling indicators of market sentiment. Rise in bookings for residential properties indicates that the post-COVID demand has risen.
During the 2024-25 financial year, as per ET Realty, the country’s 26 major listed real estate firms sold properties worth INR 1.62 lakh crore. Strong homebuyer confidence indicates that homeowners are becoming more risk-averse. In cities such as Mumbai, Pune, Bengaluru and Hyderabad, new launches and corresponding sales volume to the tune of 25-35% annual growth evidence of this observation.
Such reaffirm our observations on field. Today’s buyer is well-informed, decisive, and increasingly drawn to projects that promise more than just square footage. Plot buyers are highly aware and making choices that can match their standard of living. The rising demand for spacious, secure and privacy-enabled homes built by trusted construction partners is becoming the go-to choice. The festive season is also another occasion for home buyers to plan their purchases, a dream home being one of them.
The Shift Towards Comfortable Living
While the metros continue to see a positive growth, it is the Tier-II and Tier-III cities that are also indicating an increased demand for premium housing, with plotted developments, second homes and luxury villas on the rise. This growth spurt is not due to a lack of demand but rather a rise in aspirations. Post-pandemic lifestyle changes have redefined what plot owners consider essential—more space, flexible layouts, and private work areas are now basic expectations. HNIs also prefer to move away from the din of the city. There is a growing preference for homes that support hybrid work, children’s learning needs, and wellness, all of which are difficult to accommodate in small, budget units. Home buyers now carefully select furnishings of premium quality, invest in smart home technology, and seek out construction partners who are committed to sustainability and transparency.
Sanvi Barjatya
The Importance of a Trustworthy Construction Partner
Several analysts have noted that the transition from aggressive expansion to a quality-driven market is also reflected in the shifting trend among home buyers. Plot Owners are now placing immense trust in the construction partner’s credibility. Plot owners invest in projects when they know that the construction partner or the developer will live up to their expectations and will deliver on their promises. A 2024 survey by Anarock also confirms that home buyers are now willing to pay a premium for timely delivery and for reputation.
It is the responsibility of the construction company to continually level up on their promises, build long-term relationships with Plot owners based on confidence, quality, communication, transparency and efficiency.
Amenities, Design, and Community: The New Differentiators
Home owners are consciously choosing from an array of options that can complement their lifestyle like swimming pools, co-working spaces, wellness zones and clubhouses. Better ventilation, natural lighting, green ratings, and energy-efficient features are important components for home buyers who seek out these offerings while locking down on a home. A recent study which highlighted that 58% of buyers prioritize amenities and design also cements this observation. They also take keen interest in the neighborhood, proximity to schools and hospitals, offices and retail.
Digitally Empowered, Financially Strong Buyers
With tech-driven construction transforming the way homebuyers view properties, as per the DataRePortal report, India had 806 million internet users, which is a penetration rate of 55.3% of the total population, and India’s digital transformation is playing a crucial role in this aspirational shift.
Homebuyers prefer clarity and transparency over timelines. They value real-time monitoring, they conduct extensive online research and compare everything from materials to construction partners, before investing. Home buyers are today equipped with disposable income, financial capability, stable interest rates and are making well-informed decisions. The recent GST rationalisation measures are also set to fuel this growth. These factors have made them confident, informed and aspirational buyers. Budgetary constraints no longer restrain the way homes are bought and built.
Digital workflows have enhanced the customer experience and reduced delays. Construction partners are now leveraging cutting-edge technology to meet the growing demands of this new breed of well-informed decision maker.
Sanvi Barjatya
Utility Coupled with Investment
The new home buyer today is looking for more than just a home. They are also thinking about investment. Buyers have started purchasing homes as an investment strategy, keeping in mind long-term wealth building. These buyers are seeking properties in growth corridors with good future appreciation potential—without compromising on the quality of living. Construction partners and developers are also matching up to these trends with careful location planning, creating homes that deliver on both: an asset that is executed with finesse and has all the premium features at a strategic location.
What This Means for the Real Estate Industry
To match the evolution of the new buyer, construction partners will have to prioritise user experience. This upward surge in pre-sales is bound to grow in leaps and bounds as over 300 million people are expected to move to cities as per the ET Realty report. Homebuyers are now on the lookout for fresh thinking, moving beyond affordable housing to homes that can guarantee a better life and a better future for their next generation. Developers have to rise up to meet this demand by incorporating futuristic design and flawless planning. Redefining the experience of ‘home’ as a personal space where families can not only thrive but also build a future will be a crucial parameter for developers if they wish to compete and succeed in this competitive era of pre-sales and luxury living spaces.
Building for a Better Future
Bridging the aspirations of millions of people is a huge responsibility. Without executing plans that prioritise the aspirations of the homebuyers, construction partners will not be able to become a part of the transformation. This transformation is also impossible unless Tier I and Tier II cities are part of the conversation. For homebuyers who are invested in every brick of their home, construction partners must cement it with trust, values, transparency, technology, and commitment.
The Indian homebuyer has paved the path; it is now time for us to design and execute it to perfection.
Muskaan Kapoor