Consolidation and disciplined growth were the two key themes that defined 2025: Omaxe MD Mohit Goel

In a year marked by the easing of housing sales primarily due to rising costs, cautious financing, and a clear shift toward genuine end-user demand, Delhi-based listed commercial and residential developer Omaxe Ltd has focused on disciplined expansion. Following key integrated townships in key Tier 2 hubs, such as New Amritsar and New Chandigarh, as well as commercial landmarks like The Omaxe State in Dwarka and infrastructure-led ventures under its BeTogether platform, the company aims to double down on its expansion strategy across Tier 1 and fast-emerging Tier 2/3 hubs. 

During an interaction with Fortune India, Mohit Goel, Managing Director, Omaxe Ltd, talked about India’s real estate industry’s performance in 2025, why Omaxe’s BeTogether initiative will lead to holistic growth, and the company’s key plans for 2026. Edited excerpts:

1. How would you summarise 2025 for India’s real estate sector?

Mohit Goel: The year 2025 can be described as a phase of steady consolidation and maturity for India’s real estate sector. Demand remained resilient across the mid-income and premium segments, driven largely by genuine end-users rather than “speculative” activity. 

Supply pipelines became more measured and disciplined, reflecting a more cautious and balanced approach to new launches. As a developer focusing primarily on Tier 1 and Tier 2 cities, we observed that regional and Tier 2 markets continued to gain depth, supported by infrastructure development and improved connectivity. Meanwhile, integrated destinations combining residential, retail, and leisure elements emerged as a defining theme. 

2. What are the key drivers of home-buying demand this year?

Mohit Goel: As we see it, the real estate demand in India has been supported by families upgrading to larger homes, strong NRI interest, and the continued preference for integrated communities that offer retail, leisure and work conveniences. Luxury has grown faster, but the mid-segment remains the backbone of overall absorption.

3. What are the major challenges the sector navigated?

Mohit Goel: The sector had to work through elevated construction costs, cautious financing and extended approval timelines, particularly in certain micro markets where regulatory processes moved more slowly than expected. Despite these challenges, resilient end-user demand and steady improvements in infrastructure helped offset pressure points. 

4. What is driving growth in India’s Tier-2 and Tier-3 cities, and how is Omaxe tapping into this shift?

Mohit Goel: Omaxe was among the early entrants in many Tier 2 and Tier 3 cities, and that early conviction is clearly paying off. Long before these locations became mainstream, we had already built townships, commercial districts, and mixed-use developments in cities such as Lucknow, Indore, Ludhiana, New Chandigarh, Faridabad, and Amritsar. Our investments in integrated destinations and PPP-led developments reflect our belief in India’s regional growth story and its long-term potential.

5. As a second-generation entrepreneur, how has your journey evolved, and which lessons from your father continue to guide Omaxe?

Mohit Goel: My journey has really been about honouring the depth of what my father created, while preparing Omaxe for a very different future. He ran this company for more than three decades, and for him, Omaxe was never just a business; it was an emotional commitment. But the real foundation of this organisation was not built by one person alone. It was shaped by the people he brought in along the way, many of whom have been with us for twenty to twenty-five years. They treated his dream as their own mission, and their belief has influenced Omaxe as much as his vision did.

His leadership style was rooted in empathy, long-term relationships and a belief that if people give their lives to a company, the company must stand with them with equal strength. That philosophy continues to guide us. The launch of BeTogether, Omaxe’s integrated township and community-living platform that brings together residential, commercial, retail, hospitality, sports and cultural spaces in one destination, brings together my father’s commitment to nation building and our forward-looking approach to civic and PPP-led development. 

6. Tell us more about BeTogether, which is backed by a ₹2,800 crore investment. How does it support Omaxe’s growth strategy?

Mohit Goel: BeTogether is built on a simple belief that India’s next phase of growth will come from private enterprise working closely with the public sector. Under this platform, we are developing modern bus terminals in cities such as Ayodhya, Lucknow, Ghaziabad, and Prayagraj. Each of these projects is being designed not just as a transit point but as a city landmark that reflects local culture and character.

The response from state governments and civic authorities has been very encouraging. BeTogether strengthens Omaxe’s broader growth strategy by allowing us to build infrastructure-led ecosystems, especially in Tier 2 and Tier 3 cities, where such developments can unlock significant economic and social value.

7. With a presence across 8 states, how do you ensure the brand stays ahead in a fast-changing real estate market?

Mohit Goel: We have always believed in building for the long term, integrated townships, mixed-use environments, and community-first ecosystems. We have stayed agile by investing in technology, focusing on sustainability, and adopting governance frameworks that help us remain future-ready. 

Our developments today prioritise walkability, open spaces, smart layouts, and lifestyle convenience. Consumer expectations are changing, and we have aligned our developments with this shift by creating community-focused, amenity-rich environments that remain relevant for decades.

8. What was the original vision behind The Omaxe State, Dwarka, and how do you see it reshaping Delhi’s urban lifestyle?

Mohit Goel: The vision was to create a destination that brings multiple worlds together in one integrated, future-ready environment. At its core, the project features an ICC and FIFA standard stadium, complemented by a 4.2 km retail promenade and a luxury hospitality district in partnership with IHCL. 

Strategically located near the airport and major metro links, The Omaxe State will introduce a walkable urban destination where people can gather, shop, work, dine and experience global sporting and cultural events, setting a new benchmark for mixed-use developments in the capital.