As per ANAROCK data, housing sales in NCR cities collectively saw a quarterly decline of 8% - the least amongst all top cities - while the yearly rise stood at 13% in the region.
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The Union Budget 2019-20 budget had a few hits and misses for real estate, but infrastructure and affordable housing under the PMAY scheme got a boost.
India's lacklustre response to student housing stands in sharp contrast to the UK, US and Australia, where it's an evolved, profitable real estate segment.
What would be the impact on the Bangalore real estate market if the Karnataka government bans the construction of new apartments in Bangalore for 5 years?
As per the ANAROCK consumer sentiment survey, for 31% NRIs, Bangalore was the most preferred city for investment.
A GST rate cut on cement will reduce the overall cost of development - but will developers pass this benefit on to buyers?
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Besides the usual demand for single-window clearance and industry status for real estate projects, what should ideally be included in the budget are further tax sops to homebuyers as well as investors
- Overall unsold inventory of luxury homes (priced INR 1.5 cr – INR 2.5 cr) declines to 42,650 units in Q1 2019 from 48,300 units in Q1 2018
- MMR currently accounts for maximum share at 56%
- Bangalore sees 49%, Kolkata 37% yearly decline in total unsold ultra-luxury homes
- NCR and MMR each saw a 7% decline in pent-up luxury inventory during the year
- Mid-segment (INR 40 lakh – INR 80 lakh) saw max. reduction with 14%; affordable (<INR 40 lakh) saw a 3% rise in total unsold stock in this period
Anuj Puri, Chairman – ANAROCK Property Consultants
The slowdown in Indian residential real estate over the last few years caused most high net-worth individuals (HNIs) to shun luxury housing and look at other investments within or outside real estate.
However, ANAROCK’s latest study indicates that HNIs are now using the tail end of the slowdown in India’s luxury residential market to their advantage.
Stagnant prices and best-buy deals have brought back some of the demand luxury homes, leading to a decline of 12% in this segment’s overall unsold stock in one year.
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