Mid-sized developers construct a comeback amid real estate boom
Bengaluru: Mid-sized real estate firms in India are re-establishing their market presence as the sector experiences an unprecedented upswing in sales.
This resurgence follows an extended period of consolidation, primarily led by large corporations.
These mid-sized entities are reclaiming market share by concentrating on agile, niche developments that align with changing consumer preferences.
The landscape shifted significantly after 2017, when regulatory and financial reforms precipitated widespread consolidation, resulting in a market largely dominated by large publicly listed companies.
Many smaller firms either exited the market or were unable to sustain operations.
115267152 2017 was a watershed moment for the industry, said Kishore Jain, chairman of the Bengaluru chapter of the Confederation of Real Estate Developers Association of India.
Consolidation strengthened larger players, but it also streamlined the sector, setting a higher bar for compliance and quality.
Today, midsized developers are returning with stronger foundations, appealing to buyers with transparent practices and value-focused projects with focus on timely delivery, he said.
The current revival reflects a more dynamic environment, fostering competition and innovation in residential offerings.
The post-2017 period brought in transformative regulations like the Real Estate (Regulation and Development) Act (RERA) and goods and services tax.
These measures pushed small- and mid-sized developers to either adapt quickly or exit.
Driven by surging demand for residential properties in metro cities, mid-sized firms have now identified unique growth avenues by leveraging their local expertise and agility.
These companies are focusing on high-quality, specialised developments that resonate with buyers seeking reliable options beyond large brands.
The renewed demand has been particularly strong in cities like Bengaluru, Pune, Ahmedabad, the National Capital Region, Chennai and Hyderabad, where both affordable and premium housing needs are rising.
We are creating locally relevant strong product offerings with differentiated positioning and marketing for each unique product, which has given us over 10X growth in recent years and almost total sell-outs of new launches, said Maninder Chhabra, director for sales, marketing and CRM at Century Real Estate Holdings.
Mid-sized firms are differentiating themselves by focusing on regional demands and prioritising quality over scale, said industry executives.
Shriram Properties, Century Group, Merlin, Kalyani and the Concorde Group have seen significant success with their residential projects post the market revival.
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