Real Estate Demand remain Strong & New Projects Planned in Key Cities, says Abhishek Lodha

Abhishek Lodha, CEO and Managing Director of Macrotech Developers (Lodha Group), stated that residential real estate demand remained strong in the last quarter and the first four weeks of January. The company plans to launch projects in Alibaug, Vikhroli, Palava, Pune, and Bengaluru. 

“We have not observed any slowdown in residential real estate demand. Demand has been consistently strong, both in the last quarter and the beginning of January,” Lodha said during a recent investors' call. According to PTI, the company is considering entering the Delhi-NCR residential market as part of its expansion beyond Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.

Lodha confirmed in an interview that they are looking to acquire land either outright or through joint development agreements with landowners. 

At the investors’ call, Lodha highlighted that housing demand is primarily driven by buyers with an annual household income of Rs. 10 lakh or more, focusing on purchasing quality homes. He emphasized that even if the real estate market slows, established brands will remain well-positioned. 

He attributed the market's strength to two key factors. First, the demand comes from a specific subset of the urban middle class, particularly households earning Rs. 10 lakh or more annually. This group, he noted, continues to perform well financially, sustaining real estate demand. 

Lodha assured investors that despite market fluctuations, the demand for quality housing remains steady, and the company is well-prepared to capitalize on growth opportunities.

"The other key factor is that consumers are now more focused on purchasing high-quality homes from a select group of reputable, branded developers," he said.

He added that even if a small group of five to ten developers experiences positive growth, large-scale developers still cannot fully meet the strong demand for their properties.