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Real estate market's hall of mirrors no fun house, but mood upbeat

Despite multi-year low valuations, brokerages see rise in demand and fall in inventory

NIIF, real estate
Premium

Ram Prasad Sahu Mumbai
Though the 2022-23 financial year (FY23) is expected to end with record sales for the Indian real estate sector, valuations are at multi-year lows on worries of rising interest rates hurting volumes. Most brokerages, however, expect listed realty majors to get support, given their comfortable leverage, steady rise in location-agnostic demand, and falling inventory levels.

According to real estate data and analytics platform PropEquity, the sector grossed sales of 149 million square feet (msf) in the top seven cities in the October-December quarter (third quarter, or Q3) of FY23 — the highest quarterly sales in the past decade.

In the nine months

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