As on 2019-end, 1,322 projects comprising ~5.76 lakh units (launched in 2013 or before) were stuck in various stages of (non) completion in top 7 cities; by 2020-end, this reduced to 1,132 projects comprising ~5.02 lakh units
Author: Anuj Puri
Anuj Puri is Chairman, ANAROCK Property Consultants. He has over 30 years of experience in multi-disciplinary advisory and transactions ranging from real estate to social development projects. Expertise in planning, undertaking demand assessment studies and transaction services including marketing strategies based on technical real estate market analysis, feasibility studies, program requirement derivation and fund and investor sourcing.
The housing industry needs focused measures to further bolster demand in 2021. This year, the demands go beyond the usual suspects of single-window clearance and industry status.
On an average, 1/3rd of the overall project cost a real estate developer incurs in Mumbai goes towards various premiums. In one notable case, for a plot of land valued at INR 5 crore in Bandra, the developer had to pay premiums to the tune of approx. INR 6 crore to the BMC.
As per ANAROCK data, out of the total new housing supply in year 2015 (approx. 3.90 lakh units), branded players’ share accounted for 41% while the remaining 59% of housing supply was by non-branded players.
The Model Tenancy Act provides a clear roadmap for states to follow and tweak according to their local conditions and market. It remains to be seen to what extent the states will toe the central government’s line.
ANAROCK-Mace report titled ‘Navigating the India Data Centre Lifecycle – Trends & Perspectives’ reveals that India will see at least 28 large hyperscale data centres constructed over the next three years
~ INR 500 Cr Worth Luxury Homes in South-Central Mumbai Sold in October
South-Central Mumbai localities witnessed luxury home sales worth INR 500 Cr last month (October). In 2019, the corresponding period saw luxury sales worth approx. INR 150 crore, thus improving by >230% in the year.
Q3 2020 saw home sales values increase by more than 2.3 times to approx. INR 29,731 crore - up from INR 12,694 crore in the preceding quarter
Hyderabad, Kolkata and NCR saw their new supply increase by 45%, 24% and 10% respectively during the period. The affordable and mid segments (priced up to INR 80 Lakh) comprised over 72% share (approx. 23,290 units) of the total new supply between July-Sept.
In the post-COVID-19 era, affordability of mid-income homes, calculated on the ratio of home loan payment to income, will touch its lowest-best at 27% in FY21. It was 53% in FY12 and has been falling y-o-y ever since.