Developers from Bengaluru and Mumbai increase footprint in each other's cities, driven by growth, sales velocity, and better margins, with some finding lower land prices in Bengaluru attractive.
The affordable housing focus is driving sales recovery in the residential sector, while commercial segments struggle amid declining margins and revenue for major developers.
Mahindra Lifespaces plans to enter the affordable housing sector within a year, targeting middle-income groups amidst a growing housing shortage in India.
Mahindra Lifespaces and B E Billimoria win bid for 25-acre residential project at Nagpur's MIHAN, forming a special purpose vehicle.