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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.

‘Grooming Gangs’ and Britain’s Institutional Blind Spot

Updated: Jan 22, 2025

grooming gangs

The term ‘grooming gangs’ encompasses a range of criminal activity, from online grooming networks to organised groups where grooming is one aspect of broader delinquency. In 2023, police data revealed that 4,228 of the 1.15 lakh reported child sexual offences in the UK (3.7 percent) were group-based, with 17 percent involving grooming gangs. A task force launched by then-Prime Minister Rishi Sunak in April 2023 to tackle grooming gangs arrested over 550 suspects in its first year. However, the issue remains contentious. In January, Interior Minister Yvette Cooper announced a nationwide review and five local inquiries into grooming gang evidence, reversing earlier resistance to a national inquiry.


The controversy recently escalated when Elon Musk, through X, highlighted grooming gangs, sparking accusations of politicising the issue. High-profile cases involving groups of predominantly Pakistani men convicted of abusing young white girls continue to fuel public debate, exposing gaps in safeguarding and accountability.


Grooming gangs operate systematically across the UK, targeting mostly underage girls through calculated methods. Men running takeaways or driving taxis often exploit their networks to prey on vulnerable girls out late at night, luring them with promises of luxury, money and designer goods. Many victims are deceived into exploitative relationships framed as romantic, which often lead to sexual abuse. The pattern frequently includes introducing the girls to drugs and alcohol, furthering their dependency. Psychological manipulation and intimidation trap them in cycles of exploitation.


Among the worst cases were gangs functioning in the northern towns of Rochdale and Rotherham, but a number of others have been exposed around the country over the last 15 years in several towns and cities: Telford, Oldham, Peterborough, Keighley, Oxford and others.


For decades, evidence of child sexual abuse in Telford was ignored, leaving over 1,000 girls to be exploited. Authorities, shockingly, often blamed victims rather than perpetrators, while concerns about race deterred investigations. The abuse, ongoing since the 1980s, has been only partially addressed.

In 2012, Operation Chalice led to the conviction of seven men for sexually abusing girls as young as 13. In 2020, Operation Vapour resulted in the convictions of four more men in Telford: Mohammed Ali Sultan, Mohammad Rizwan, Shafiq Younas and Amjad Hussain. These cases underscore a long-standing failure to protect vulnerable minors.


In Oldham, a 2019 council-commissioned review delved into the role of shisha bars, taxi companies and children’s homes in the sexual abuse of minors. The name of Shabir Ahmed, the ringleader of a notorious grooming gang, stood out as he had once been employed as a welfare rights officer by Oldham Council.


The review also cited earlier investigations into grooming, including Operation Helena 2 in 2006, which responded to concerns about exploitation at a local school, and Operation Messenger, a police-led initiative aimed at preventing child sexual abuse in the area. However, survivors have criticized the scope of the review, calling for a deeper inquiry into historical abuse cases, arguing that their experiences were sidelined. In January, the home secretary ordered a review of grooming gang evidence and announced five additional local inquiries, underscoring persistent failings in tackling this grievous issue.


Rotherham gained renewed attention on January 1, 2025, when Musk highlighted the town’s grooming gangs. Between 1997 and 2013, 1,400 children were raped, beaten, trafficked and even burnt alive. An inquiry led by Professor Alexis Jay found that most perpetrators were of Pakistani origin, exposing institutional failures and widespread neglect.


Operation Stovewood, investigating abuse in Rotherham during this period, led to the conviction of seven men—Mohammed Amar, Mohammed Siyab, Yasser Ajaibe, Mohammed Zameer Sadiq, Abid Saddiq, Tahir Yassin, and Ramin Bari—who received a combined total of 106 years in prison. They lured victims with cigarettes, alcohol, and money before subjecting them to sexual assault and rape, leaving victims silenced through fear and psychological coercion.


For years, vulnerable girls in Rochdale were left at the mercy of grooming gangs as police and council officials turned a blind eye to rape and abuse, unwilling to confront the scale of the crime. A 173-page report into Operation Span, a much-criticised investigation, reviewed cases from 2004 to 2013. Commissioned by Manchester Mayor Andy Burnham, it identified 96 men still deemed a risk to children and found that of 111 cases examined, 74 showed evidence of exploitation, with serious failures in 48 instances.


The scandal first came to light in 2012, revealing that authorities had long ignored abuse rings, primarily involving Pakistani men. That year, nine men were sentenced to between four and 19 years, followed by another nine convictions in 2016. The revelations laid bare systemic neglect and a reluctance to act.


In 2020, an independent review uncovered a harrowing failure of duty in Manchester, where dozens of teenage girls, allegedly groomed and sexually abused by groups of predominantly Pakistani men, were abandoned by the very institutions meant to protect them. The review revealed that authorities, wary of unsettling the city’s delicate race relations, hesitated to pursue a comprehensive investigation.


The report spurred Operation Green Jacket launched in May 2019 to revisit allegations of grooming in south Manchester during 2004-2005—an earlier probe, shamefully halted due to “resource constraints.” Since then, police have arrested 64 suspects, though the shadow of institutional neglect still looms.


Law enforcement authorities and community leaders must summon the moral and political courage to decisively address these crimes and remedy systemic failures, eschewing excuses and half-measures. Policymakers must shed political posturing in favour of meaningful reforms. For the survivors, justice demands not only accountability but the harshest consequences for perpetrators to deter future atrocities.


(The author is a research fellow at the Institute of Conflict Management, Delhi. Views personal)

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