While real estate demand as of now seems to buoyant in the residential space and is likely to gather momentum, is it significant? Says Sanjay Dutt, CEO, Business Jones Lang LaSalle Meghraj, a realty consulting firm, “The slowdown hit the property market shortly after the Navratri-Diwaly season in 2008 after registering the usual 30-35 per cent upsurge in real estate project sales typical  of the period. Real estate projects Sales increased 25-30 per cent this time around and is significant as this is the first upsurge in demand after a prolong downturn.” Driving home the point, Ramnath cites the sales of DLF and Unitech, India’s largest listed realty companies, during the current financial year. “ Unitech has launched about 17 million square feet (mnsqft) worth of properties across the country selling over 40 per cent of that real estate project. Incrementally, Unitech has launched about 6 mnsqft of affordable housing properties selling about 1 mnsqft of properties till date. DLF too has sold a total of about 4 mnsqft of properties till date. These events indicate an uptick in volumes in the real estate sector.”

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