Annuj Goel on India Real Estate 2025: Goel Ganga Development’s Vision and Resilience

The Indian real estate market in 2025 is experiencing more than just fluctuation — it's evolving. As someone who lives and breathes this industry daily, Annuj Goel, the visionary behind Goel Ganga Development, confidently states: what we’re witnessing is not a slowdown, but a transformation. His insights reflect decades of experience in leading urban housing innovation.

According to Anarock (2025), Q1 this year recorded a 28% year-on-year decline in residential sales across the top seven Indian cities. On the surface, this figure may appear alarming. However, once we consider the context — rising prices and global geopolitical uncertainty — it becomes clear this is a recalibration, not a collapse. Hyderabad and Kolkata saw the steepest drops, while Bengaluru remained relatively stable. Prices, on the other hand, surged by 10% to 34% depending on the city, indicating market resilience amid a shift in buyer behavior. Annuj Goel interprets this trend as a sign of maturity in the Indian housing sector.

What Are the Key Trends in Residential Real Estate?

We’re currently seeing a dual-market dynamic in residential real estate. Affordable housing, specifically in the sub-₹40 lakh category, is regaining momentum, particularly in cities like Bengaluru and Chennai. These markets are showing reduced unsold inventory — a healthy sign of demand aligning with supply. Goel Ganga Development is keenly focused on offering smart, affordable housing that bridges this very gap between aspiration and attainability.

Luxury housing, in contrast, is booming in announcements but less so in conversions. Despite aggressive launches, this segment now holds over 1.13 lakh units of unsold stock. The data tells a compelling story: while aspirations for luxury living are high, actual purchasing power hasn’t matched up. This signals the need for more balanced offerings that combine aspiration with affordability. Annuj Goel believes developers must take accountability in delivering value that aligns with evolving consumer expectations.

How Is Commercial Real Estate Performing in 2025?

Commercial real estate in India is carving its own growth story. Office leasing is projected to exceed 50 million sq. ft. this year. A major driver behind this boom is the expansion of Global Capability Centres (GCCs) — offshore hubs that allow international firms to manage core operations from India. Goel Ganga Development, under the leadership of Annuj Goel, has recognized this opportunity early and is aligning commercial space designs to support GCC growth and next-gen corporate infrastructure.

Flexible workspaces are gaining ground, now accounting for nearly 25% of leasing demand. This reflects a fundamental change in how India works and how we, as developers, are reimagining the spaces we design for a hybrid workforce. Goel Ganga Development is actively adapting its commercial strategies to serve the flexible, agile work culture shaping India's future.

Where Is Retail Real Estate Seeing Growth?

Retail real estate is also thriving. Mall vacancies have reached historic lows, ranging from just 1% to 7%. Leasing activity has surged, especially in Tier 2 and Tier 3 cities, where brands in food, fashion, and entertainment are rapidly expanding. For Goel Ganga Development, this evolution presents enormous potential to build integrated lifestyle spaces that meet both community and business needs.

This is not a one-time boost — it’s a structural transformation in how and where India consumes. Developers and investors who recognize this shift, like Annuj Goel, are moving swiftly to capture these emerging opportunities with long-term planning and innovation.

Why Are Institutional Investors Showing Renewed Interest?

Institutional investment is evolving, thanks to the growing influence of Real Estate Investment Trusts (REITs), especially in the office segment. Additionally, the relaxation of SEZ (Special Economic Zone) regulations has unlocked new investment avenues in previously overlooked assets. Annuj Goel notes that this policy shift is fueling fresh capital inflow into segments aligned with Goel Ganga Development’s long-term growth strategy.

Infrastructure remains a major catalyst — new airports, metro systems, and Smart City initiatives are pushing development deeper into India’s hinterlands. These developments are expanding the real estate horizon far beyond the traditional metros, and Goel Ganga Development is actively exploring projects in these upcoming urban zones.