India's real estate landscape is undergoing a dramatic shift as tier-2 and tier-3 cities now account for nearly half of all land acquisitions by developers. This emerging trend, backed by a 20% surge in housing sales and 43% growth in the primary market, signals a fundamental reorientation.

The Rural Development Ministry allocated 3.8 million houses under PMAY-G for FY25, part of a 5-year plan to build 20 million homes and transform rural housing in India.

To promote affordable housing in India, the government has quadrupled the financial allocation to ₹10 lakh crore under the PMAY Urban 2.0 scheme. This extra funding is intended to boost affordable housing, especially for individuals relocating to cities for better jobs.

Indian real estate is hopeful for major improvements when Finance Minister Nirmala Sitharaman presents Budget 2024. The business anxiously awaiting affordable housing definition extension, industry classification, and tax benefits for homebuyers and developers.

The Reserve Bank of India's fifth straight repo rate hold at 6.5% is likely to boost the Indian property industry, especially Mumbai house sales.

HDFC Capital, a subsidiary of India's largest mortgage lender HDFC, raised almost INR 3,000 crore in its second scheme of the HDFC Capital Affordable Real Estate Fund-3 (H-CARE 3).

The HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3) is one of the largest funds formed in India to invest in residential real estate, with investors pledging more than USD 1.22 billion toward the first closing of the first tranche.