ANAROCK research shows that the southern cities of Bangalore, Hyderabad and Chennai saw residential sales decline by 5% in the first three quarters of 2019.
Author: Anuj Puri
Anuj Puri is Chairman, ANAROCK Property Consultants
RERA project registrations have grown by 40% in a year across India with maximum registrations in Maharashtra, Gujarat, Karnataka, Madhya Pradesh and UP.
The festive season is traditionally an active period for real estate sales as many buyers consider Navratri and Diwali an auspicious time to buy a property.
The repo rate cut of 25 bps to 5.15% is in line with expectations, and can go some way in improving consumer sentiments ahead of the festive season.
Sanjay Chugh, City Head – Chennai, ANAROCK Property Consultants
Today, a city’s real estate success formula depends on quite a few other industries than just housing. Housing demand is a natural by-product of the success of businesses and industries that drive consumption and create jobs.
Chennai’s strengths as an automobile hub have already earned it the tag of ‘the Detroit of the East’, but it has also emerged as one of the leading IT/ITeS destinations of the country.
Both these industries drive job growth, which in turn drives housing demand, but there are at least two other industries that share a deep symbiotic relationship with Chennai’s overall real estate viability – the organized retail and warehousing & logistics sectors.
Shopping Malls
An economic downturn or no economic downturn, Indians love to shop.
Some consumer items like cosmetics (the fabled ‘lipstick effect’), fast fashion and electronics like Smartphones are actually beating the current trends, with the growth figures in these industries still firmly in the green.
Malls are the best places to shop for these – and to enjoy a few hours in clean,
In another positive and a bold step to help revive the economy from its slumber, the FM has slashed the corporate tax rates to 25.75% from earlier 30%.
According to ANAROCK research, nearly 2.5 lakh units across top 7 cities can get relief from the government’s aid for last-mile funding of distressed homes.
Chennai’s diversified economy pushes the city’s real estate growth, according to ANAROCK's latest report, Chennai: Driven by Diversified Economic Base.
The Indian government will contribute INR 10,000 crore to provide last-mile funding requirements for stalled housing projects that are non-NPA and non-NCLT.
Mumbai is in desperate need of public transport solutions, but as the Aarey Metro Debacle shows, should development come at the cost of the environment?