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By:

Bhalchandra Chorghade

11 August 2025 at 1:54:18 pm

Real estate sentiment steadies ahead of 2026

India’s real estate sector appears to have regained its equilibrium in the final quarter of 2025, with stakeholder sentiment stabilising after a phase of moderation earlier in the year. The 47th edition of the Knight Frank–NAREDCO Real Estate Sentiment Index for Q4 2025 (October–December) indicates that both current and future outlooks remain firmly in the optimistic zone, underpinned by improving macroeconomic visibility, easing inflationary pressures and steady funding conditions. The...

Real estate sentiment steadies ahead of 2026

India’s real estate sector appears to have regained its equilibrium in the final quarter of 2025, with stakeholder sentiment stabilising after a phase of moderation earlier in the year. The 47th edition of the Knight Frank–NAREDCO Real Estate Sentiment Index for Q4 2025 (October–December) indicates that both current and future outlooks remain firmly in the optimistic zone, underpinned by improving macroeconomic visibility, easing inflationary pressures and steady funding conditions. The Current Sentiment Score edged up marginally to 60 in Q4 2025 from 59 in the preceding quarter, while the Future Sentiment Score held steady at 61. Although these readings remain below the peaks witnessed during 2023–24, they reflect a market that has absorbed recent volatility and is now progressing on more stable fundamentals. The stabilisation suggests that stakeholders are tempering expectations while retaining confidence in the sector’s medium-term prospects. A key driver of this optimism is the strengthening domestic macroeconomic environment. Real GDP growth accelerated to 8.2 per cent in Q2 FY 2025–26, a sharp improvement over the 5.6 per cent recorded in the corresponding period last year. High-frequency indicators continue to signal sustained economic momentum, helping offset global uncertainties. According to Shishir Baijal, Chairman and Managing Director, Knight Frank India, stronger macro visibility, steady funding conditions and disciplined decision-making across stakeholders have collectively reinforced confidence. He noted that calibrated residential supply and robust office leasing activity are providing structural support to the market. Funding availability sentiment also improved during the quarter. Most respondents expect liquidity conditions to remain stable or improve, aided by policy continuity and a sustained focus on asset quality. While lenders and investors continue to adopt a selective approach, capital access across asset classes remains supportive, indicating confidence in the sector’s underlying fundamentals rather than speculative expansion. Regionally, future sentiment strengthened modestly across all zones, with every region remaining in the optimistic zone. The South Zone retained its leadership position with a score of 62, driven by strong office leasing in Bengaluru and Hyderabad and resilient demand in higher-ticket residential segments. The East Zone improved to 62 on the back of steady mid-segment housing demand, while the West Zone also strengthened to 62, supported by stable commercial activity and a calibrated approach to residential development. The North Zone recovered to 59, reflecting stabilising sentiment after earlier softness, aided by steady office traction and ongoing infrastructure momentum. The broad-based regional improvement underscores confidence anchored in urban demand and improving economic conditions. Stakeholder sentiment, however, showed moderate divergence. Institutional stakeholders such as banks, financial institutions and private equity funds recorded a higher Future Sentiment Score of 63, reflecting growing confidence in asset quality and liquidity. Developers, in contrast, maintained a more cautious stance with a score of 58, highlighting a disciplined approach that aligns growth plans closely with demand visibility and funding prudence. This divergence points to a market where capital providers are willing to support growth, while developers remain focused on risk management and execution efficiency. In the residential segment, future sentiment improved in Q4 2025, supported by sustained demand in higher ticket size segments and careful inventory management. Although sales momentum has moderated from earlier peaks, improving financing conditions and controlled supply additions have reinforced confidence. Overall sentiment remains optimistic, characterised by stable demand rather than rapid expansion. The office sector continues to anchor overall market confidence. Leasing expectations remain strong, driven by sustained occupier demand, particularly from Global Capability Centres across major cities. Limited availability of quality Grade A space has encouraged pre-leasing and early commitments, supporting firm rental expectations. Sentiment around new office supply has also improved, indicating expectations of a stronger development pipeline even as near-term availability remains constrained. Parveen Jain, President, NAREDCO, observed that the index reflects confidence strengthening after a period of mild moderation, with residential stability and consistent office leasing forming the backbone of optimism. Taken together, the Q4 2025 findings suggest that India’s real estate sector is entering 2026 on a steadier, more balanced footing, guided by economic clarity, prudent capital deployment and demand-driven strategies across asset classes.

Ditching Marathi for Hindutva

Updated: Oct 22, 2024

Hindutva

Change is an inevitable part of life, and the only constant, according to the Buddha. Failure to adapt to changing needs results in danger of becoming obsolete. But what if the change is merely a knee-jerk reaction to something, rather than a thorough conviction?


The Maharashtra Navnirman Sena (MNS) president Raj Thackeray has once again changed his stance within six months declaring that his party will be going solo for the state polls and would be a part of the next government.


The political landscape in Maharashtra is gearing up for significant battles in the upcoming assembly elections. The unpredictable leader’s decision to contest the assembly elections independently raised many eyebrows. Three years after its formation, Raj Thackeray’s MNS won 13 Assembly seats in the 2009 Maharashtra Assembly elections. The undivided Shiv Sena received a major setback in their bastion. The erstwhile Parel constituency which was the stronghold of Shiv Sena for years was won by MNS. Bala Nandgaonkar, the MNS leader defeated Sena strongman Dagdu Sakpal by sizable margin in that constituency.


Ahead of the 2014 general elections, Thackeray endorsed Narendra Modi for Prime Minister but at the same time he fielded his own candidates against the BJP’s ally, the Shiv Sena. Raj Thackeray’s confusing tactics prompted his core vote base to shift to BJP, resulting in a dismal performance for the MNS in the 2014 Maharashtra state elections, in which the party bagged just one seat. Since then, Thackery’s MNS has lost a considerable number of seats in several municipal corporations across the state. Ahead of the 2019 Assembly election, Thackeray briefly tried to join hands with the Sharad Pawar-led Nationalist Congress Party.


Raj Thackeray has gone from backing Narendra Modi in 2014 to campaigning against the BJP in 2019 and started strongly peddling the Hindu cause. He also directed his workers to recite the Hanuman Chalisa in front of mosques if loudspeakers are not removed. Hindutva’ and ‘Marathi pride’ will be the pivots of the MNS, he announced. He changed the MNS flag to saffron and later announced a visit to Ayodhya. To keep his political existence intact he kept on changing the sides and shifting the role. As a result the party which got a sizable following in many districts of the state is presently not in a good shape.


It seems obvious that the MNS is trying to fill the political void left by the Shiv Sena when the party joined hands with the secular Congress and Nationalist Congress Party to form an alliance to take power in Maharashtra. But yet to make any impact in that direction. The frequent changes in the stand has cost the party a lot.

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