The future of India’s residential market appears increasingly bright as developers adjust to this shifting landscape. Government-led infrastructure projects are driving a significant shift in the country’s residential sector, with suburban and peripheral urban developments influencing housing trends. Plotted developments are becoming a popular choice among homebuyers because they offer open, customisable spaces while encouraging sustainable and community-driven urban planning.
A study by JLL indicates that between January 2022 and October 2023, real estate developers acquired approximately 3,294 acres of land. Additionally, Anarock reports that around 2,252 acres of land deals in FY-24 are earmarked for residential, plotted, and township projects. The India Plot Market report by Magicbricks highlights Mumbai as the leading city for plotted developments, with Pune following closely. This data signals a significant transformation in homebuyer preferences, particularly among the middle class seeking independent and spacious living environments.
Developers are reconsidering conventional residential models with an emphasis on high-quality, community-focused areas in order to meet the expectations of contemporary buyers. These projects mix open living and urban convenience with good road access and basic amenities.
Mohit Malhotra, Founder & CEO of Neoliv, emphasised that homebuyers today seek more than just a residence—they desire spaces that align with their aspirations, lifestyles, and sense of community. Neoliv’s expansion into North India includes a 20-acre development in Kundli-Sonipat, near Maruti Suzuki’s upcoming plant, featuring premium villas, custom-designed plots, and a clubhouse. The project has a Gross Development Value (GDV) exceeding INR 600 crore, aiming to create a world-class, sustainable residential community in the NCR region.
Plotted complexes give homeowners the freedom to customise their homes while still taking use of the conveniences and security of gated communities, unlike high-rise flats. They appeal to a broad spectrum of consumers due to their adaptability and affordability. According to Tribeca Developers Group CEO Rajat Khandelwal, these developments offer the flexibility of customisation together with well-chosen community elements.
Rising lifestyle ambitions, more discretionary incomes, and a growing desire for sustainable, green living are driving the demand for plotted developments. In response, developers are incorporating parts of nature into their constructions. For example, the Stonecraft Group, based in Hyderabad, just unveiled Woods Indresham, a 32-acre plotted development with 305 premium plots that range in size from 267 to 587 square yards. To create a lively community, the project includes distinctive elements including a two-acre Miyawaki forest, a one-acre mango garden, and seven acres of open spaces.
Plotted developments offer a profitable investment opportunity, not only in major cities but also in developing tier-II and tier-III markets, as land values rise and infrastructure improvements pick up speed. This pattern reflects changing consumer preferences as well as a calculated drive for sustainable, future-proof housing developments.
Source: Prop News Time
