India, 18th December 2023: 37 years of legacy, known for its strategic locations and design, Ashwin Sheth Group, a leading real estate developer in India, announces a year of significant milestones, innovation, and continued growth in the Indian real estate sector. Despite the challenges posed by the global landscape, Ashwin Sheth Group remained resilient, adaptive, and committed to delivering unparalleled quality and innovation to its homebuyers, employees and stakeholders.
The company, in the last three quarters, increased the sales growth ranging between 25%-35% compared to the previous years across its luxury residential portfolio for its ongoing projects such as Sheth Zuri, Sheth Avalon, Montana, Avante, Vasant Lawns and 72 West. The group marked its entry back with its 15th landmark in Kandivali with the successful launch of EDMONT Aurelia, a 51-storey skyscraper and one of the tallest towers in the area. Highlighting the company’s dedication to excellence, skilled craftsmanship and consumer-centric designs, the company is looking forward to new launches in 2024 across the residential and commercial segments spanning approx. 5-10 million sq. Ft.
The year 2023 has played a pivotal role in stabilizing the real estate sector and as per analysts, India’s real estate market has emerged as the most preferred destination for global investors in the Asia-Pacific region, receiving over $23 billion since 2018 and is expected to expand to $5.8 trillion by 2047. Termed as the “turn-around year,” 2023 marked a sustained recovery for the Indian real estate sector, especially in the residential and commercial segments, following two years impacted by the COVID-19 pandemic. The residential sector, in particular, has witnessed a remarkable revival, poised to surpass decade-highs in apartment sales. This surge is fuelled by a significant interest from the HNIs, UHNIs and the NRIs.
Mr. Ashwin Sheth, Chairman and Managing Director, of Ashwin Sheth Group, stated, “In 2023, we witnessed the upsurge in sales and launches in the luxury residential sector and we will foresee the same momentum in the coming years. India’s real estate market has emerged as the most preferred destination for global investors in Asia–the Pacific region as per the experts and this will aid the Indian real estate market to boom in terms of foreign investments, help the economy and robust pipelines of real estate projects in India. Despite the competition, the MMR region has seen the highest sales in the luxury residential market”.
Mr Sheth further added, “Our strategic investments have been pivotal in propelling our vision forward, empowering us to create exceptional spaces and innovative experiences that redefine the very essence of modern living. With our strong revenue growth, Ashwin Sheth Group remains committed to redefining the real estate landscape in India by consistently delivering exceptional projects that resonate with our customers’ aspirations. We will be aggressively expanding our residential and commercial portfolio next year with a couple of launches in the MMR region and plans to foray into other cities in India”.
Mr. Bhavik Bhandari, CSMO, of Ashwin Sheth Group, said, “The surge in infrastructural development seen in both Tier 1 and Tier 2 cities is attracting significant real estate investments from the Indian Diaspora as well, propelling growth in both the residential and commercial sectors. This year we have further witnessed a boom in smart homes, mostly driven by tech, AI and automation systems. Our contextual campaigns on Ganesh Chaturthi, Navratri and Diwali brought forth a profound message that aligns seamlessly with our mission of fostering a sense of belonging and inclusion. These campaigns have been instrumental in not just showcasing our diverse portfolio of offerings but in forging meaningful connections with our audience. As we step into 2024, we are excited about the upcoming launches that will further elevate our portfolio and reinforce our position as industry trailblazers.”
Ashwin Sheth Group’s pipeline for 2024 reflects its dedication to innovation, customer satisfaction, and a vision to create spaces that not only meet but exceed the evolving needs of discerning homebuyers and businesses across India.
