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At Economic Times-powered ACETECH event on 15th November 2018 in Mumbai, knowledge partners ANAROCK Property Consultants will release their latest and most incisive report on MMR – ‘The Peripheries – Greater Mumbai’s Future Suburbs‘.

A veritable Who’s Who of Mumbai’s real estate industry is participating in a panel discussion on Mumbai: Resurgence and Preparation for The Big Leap

Panellists:

  • Dr Niranjan Hiranandani, Managing Director – Hiranandani Group
  • Venkatesh Gopalkrishnan – CEO, Shapoorji Pallonji
  • Parag Munot, Managing Director – Kalpataru
  • Vikas Oberoi, Chairman & Managing Director – Oberoi Realty
  • Sandeep Runwal, Chairman – Runwal Constructions
  • Shrikant Joshi,  CEO – L&T Realty
  • Sangeeta Prasad, Managing Director & CEO – Mahindra Lifespaces Developers
  • Ashish Raheja, Managing Director – Raheja Universal
  • Hafeez Contractor – Architect Hafeez Contractor
  • Neel Chandra Raheja, President –

Anuj PuriAnuj Puri, Chairman – ANAROCK Property Consultants

It is still too early to provide hard numbers of 2018 festive season’s property sales numbers as it is yet to conclude. Also, sales numbers are usually collated by the end of the fourth quarter.

However, trends in recent years suggest that the entire fourth quarter of the calendar year is seen as an auspicious time wherein housing sales rise. Considering the q-o-q trends in 2018, sales numbers have increased across the major cities.

For instance, housing sales in Q3 2018 increased by 9% as against the preceding quarter. In comparison to Q3 2017, sales increased by 15% in a year across the top 7 cities.

If we go by these numbers and look at the current scenario, we can expect sales to go up by 9-12% in Q4 2018 (the festive season quarter) as against Q3 2018. However, the ongoing liquidity crisis in Indian real estate could, to come extent, play spoilsport for developers this festive season.

While sales numbers have been increasing q-o-q, there is no significant change noted in the number of inquiries seen during this festive season so far.

Anuj PuriAnuj Puri, Chairman – ANAROCK Property Consultants

Senior living essentially refers to homes that cater to adults aged 55+ who are looking to live independently in a peer environment.

Seniors who gravitate towards such housing options tend to have no major health issues and are active enough to more or less take care of themselves.

Such projects usually provide a variety of facilities for recreation and socializing, including a clubhouse, health club or gym, facility management services, squarely focused on the needs of the elderly.

Assisted living, on the other hand, pertains to homes for adults who need some or considerable assistance to live their daily lives. These seniors are not entirely bed-ridden yet need assistance in their day-to-day lives.

Many of such seniors require nursing home care, including full-time nursing to assist in personal hygiene, ambulation and perhaps even feeding.

The more traditional old-age homes are establishments usually run by NGOs or government agencies and are populated by senior citizens who can, for any number of reasons, no longer cohabit with their families or are entirely homeless.

There are more than a thousand old-age homes in India with most of them offering free accommodation.

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 Anuj Puri, Chairman – ANAROCK Property Consultants

  • 4.25 lakh housing units ready-to-move-in in top & cities
  • Only 5% buyers will consider under-construction projects

RERA was supposed to save the day for homebuyers, but that doesn’t seem to have happened – at least not yet. In many states RERA, in its present form, is currently either non-existent or a pale shade of what it was intended to be. It is a fact that RERA has been diluted in some states to favour developers while in a few others it hasn’t even been deployed yet.

RERA’s primary area of focus is under-construction properties. After all, this is the area where buyers had been facing the most challenges on account of project delays, project plan deviations and various other issues.

As things stand now, states like Maharashtra, Uttar Pradesh, Gujarat, Karnataka, Punjab, Madhya Pradesh and Rajasthan have the benefit of operational RERA, but even in these states, the registration numbers are far from motivating.

While Maharashtra comes out on top with over 18,300 projects registered under it, other states where RERA has been implemented are lagging far behind.

Two lateral views from the revolving door

Prashant ThakurPrashant Thakur, Head – Research, ANAROCK Property Consultants

NRIs Eyeing Indian Properties

Ever since the Indian rupee began nosediving, more and more NRIs (non-resident Indians) have turned their focus to the Indian real estate market. There are good reasons for this.

Other than the favourable exchange rate, the new regulatory environment driven by RERA, DeMo and GST have served to clear up a lot of the misgivings that kept many NRIs from investing in property in India. However, that’s not all there is to it.

Most NRIs, regardless of whether they are permanently stationed or well-settled abroad, at some point entertain a fond wish to buy a home in India – if not for themselves, then for their families back home.

Buying a property is still a mark of prestige and accomplishment for any Indian, regardless of where they are in the world. Nor will most NRIs ever entirely shed a feeling of responsibility towards their families back home.

As per ANAROCK’s recent Consumer Sentiment Outlook survey,

Mayank SaksenaMayank Saksena, MD – Land & Head – South India, ANAROCK Property Consultants

Hosur Road in South Bengaluru essentially covers locations such as Begur, Kudlu Gate, Singasandra and Electronic City. Major factors contributing to its growth are:

Affordable Property Prices: 

Locations along Hosur Road close to Electronic City and Begur Road essentially cater to affordable and mid-segment housing.

Prices in Electronic City, for instance, range between Rs. 3,500-5,600 per square foot. Prices on this stretch are more relatively affordable than other major IT hubs, including Whitefield and Outer Ring Road-Marathahalli.

Good office rental yields:

Commercial property prices range from Rs. 4,500-8,000 based on the type of property and the amenities available in the building. Rental yield in Electronic City varies from 3.5 to 4.2%, which makes it one of the top rental yield markets in Bengaluru.

A wide range of housing options:

A favourable confluence of factors such as ample new supply in Electronic City due to large tracts of land, affordable property prices coupled with high consumer demand,

  • Housing sales increase by 32% in a year, highest amongst the top cities
  • Unsold housing stock declined by 32%
  • Maximum new supply in the Rs. 40 – 80 lakh budget range

Bengaluru, 29 October 2018: Bengaluru’s real estate market has out-performed all other cities in terms of shedding unsold housing inventory, says the latest report by ANAROCK Property Consultants.

The report, released at ACETCH 2018 in Bengaluru last Friday, confirms that Bengaluru saw a remarkable decline of 25% in the total unsold stock across the top cities.

City-wise Unsold Inventory (in Units)

City-wise unsold inventory

The report studies Bengaluru’s residential real estate trends since 2013, factoring in the city’s evolution in terms of infrastructure development, transport and connectivity.

Given the ever-escalating challenges the city faces on these fronts, a marked preference for walk-to-work options by homebuyers has become evident. That said, Bengaluru’s overall market profile retains most of its sheen thanks to its highly favourable confluence of market drivers.

Anuj PuriAnuj Puri,

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  • Compact homes (area less than 646 sq. ft)see maximum traction in Vadodara
  • Surat’s residential market set to boom on the back of DREAM City

Ahmedabad, 26 October 2018: Gujarat’s real estate market presents a mixed bag of highs and lows, according to ANAROCK Property Consultants’ report ‘Gujarat – Land of Innumerable Possibilities.

As knowledge partner for the event, ANAROCK launched the report at the CII Realty & Infrastructure Conclave 2018 in Ahmedabad today.

Shobhit Agarwal, MD & CEO – ANAROCK Capital said, “Gujarat has attracted over ₹65,432 crores of FDI over the last 5 years, accounting for 5% of the total investments in the country. The state’s major real estate markets are largely stable, barring a minor price correction in early 2017 due to demonetisation. Smaller-sized housing units appear to attract the maximum demand overall, though Surat is a notable exception. While there has been fairly constant housing price growth in all segments since 2016, the maximum price rise in major cities of the state has been in the mid-segment.”

Housing Price Trends

Dinesh J.

Anuj PuriAnuj Puri, Chairman – ANAROCK Property Consultants

  • Housing sales jumped by nearly 8% in the first 3 quarters of 2018
  • NBFC crisis hijacks Indian real estate’s growth story, fallout into 2019
  • General elections will play a role in the sector’s fate in 2019

As we embark on the final lap of this calendar year, it is appropriate to take a quick glimpse of what has happened in the Indian real estate sector during a highly tumultuous 2018.

Given the RBI’s alternating cautious and proactive stance towards managing the overall economy, it remains to be seen if 2018 will bring any further surprises for the real estate sector. If not, we can expect fairly steady sailing until the end of the year.

2018 So Far

  • Residential Real Estate

The year 2018 brought with it a new ray of hope for the residential sector, with both sales and new supply gradually picking up across the top 7 Indian cities – Bengaluru, National Capital Region (NCR),

Sukhdeep Aurora, Chief People Officer – ANAROCK Property Consultants

The best companies attract the best talent, but the best talent also knows its value and will always have its sights on even better opportunities. This is why a top-ranking company will focus on employee retention at least as much as on acquiring right talent.

The fact that the best talent will be the most productive is more or less a given – that’s why they are the best. A company’s most productive employees will bring personal accountability and ownership to their work, so they know that their productivity is closely interlinked with their own career growth within the firm.

However, it goes without saying that an organization must also do everything it can to foster not only employee productivity but also satisfaction and a sense of being valued, and ‘belonging’. One of the primary means of doing this is by providing an enabling workplace environment. Adopting an open office plan can be one of the best ways of achieving this.

Open offices have their detractors – and, in many individual cases,  some of the objections do have merit.