An analysis of buyer behaviour in the top seven cities in the last fiscal year FY21-22 shows that nearly 80% of demand is for mid-end and high-end homes, with the affordable housing segment accounting for a mere 10% of the demand.
Coworking spaces have become the most preferred option to adopt the hybrid work model, compared to the other options of changing office layouts or the hub-and-spoke model
this is the first time that in a quarter, NCR’s total unsold stock clocked in lower than in South India's collective unsold stock. In the West's MMR and Pune, the unsold stock declined by 10% between the pre and post-pandemic periods - from approx. 3.07 lakh units by Q1 2020 to approx. 2.75 lakh units in Q1 2022.
- As of Q1 2022-end, the total available stock of affordable housing (<INR 40 lakh) in the top 7 cities is approx. 1,86,150 units; 2,34,600 units at Q1 2020-end
- Chennai, Pune & MMR saw the highest supply decline of 52%, 33% & 27%, respectively
- Supply of ultra-luxury homes (>INR 2.5 Cr) declined 5% in the same period – from approx. 41,750 units in Q1 2020-end to approx. 39,810 units by Q1 2022-end; MMR & Kolkata shed maximum ultra-luxury stock of 16% & 15%, respectively
- Mid segment housing saw a 4% decline – from 1,97,880 units in Q1 2020-end to 1,89,310 units by Q1 2022-end
- Premium & luxury homes (INR 80 lakh to INR 2.5 Cr) unsold stock increased in the same period
Mumbai, 19 April 2022: While the new supply of affordable housing has been shrinking over the last two pandemic years, demand remains healthy. ANAROCK data reveals that out of the total unsold stock across the top 7 cities, affordable housing inventory saw the most significant decline of 21% – from 2,34,600 units by Q1 2020-end to 1,86,150 units by Q1 2022-end.
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Approx. 99,550 units were sold in Q1 2022 – a significant increase of 71% over Q1 2021. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 89% sales in the quarter
Despite the withdrawal of all the sops by the state government, residential sales momentum in Maximum City has remained strong in the current fiscal. This indicates that the city’s housing demand is on a winning streak despite the withdrawal of stamp duty benefits.
36% of participating women homebuyers prefer 2BHKs - a clear preference trend for bigger spaces. 38% of women buyers want to buy homes in city peripheries, 30% will buy within city limits
The survey finds that an under-10% increase would have a moderate-to-low impact. However, an increase of over 10% would have more profound repercussions on buyer sentiment.
Approx. 2.78 lakh units were completed across the top 7 cities in 2021, against over 2.14 lakh units in 2020, according to latest ANAROCK Research data