Latest ANAROCK data reveals that over 4.22 lakh units are scheduled to be completed by 2021-end across the top 7 cities. Of this, NCR would see the maximum completions with a nearly 28% share, followed by MMR with 26% and Pune with approx. 18%.
The total number of leases coming up for renewal in 2021 account for 90 Mn sq. ft. area. Interestingly, in terms of area, Bengaluru has the largest share at about 37%, with Mumbai coming in a distant second with a share of about 19%.
Average monthly rentals across the major high street retail markets mostly saw corrections across cities. However, there were also few markets that saw an upward trend.
The stamp duty cut significantly stimulated housing demand in the city. The government would do well to seriously consider extending it to keep the property sales momentum - and registrations revenue - going.
Latest ANAROCK data reveals that the price gap between ready-to-move-in (RTM) and under-construction (UC) homes reduced to a mere 3-5% by Q1 2021. In 2017, the difference between the two categories was anywhere between 9% to 12% across cities, while in 2018 it was 5-8%.
Though FY21 was an unprecedented year due to the pandemic, foreign PE funds showed much optimism for India. As much as 93% of the total PE investments pumped into Indian real estate was by foreign investors.
Bulk hiring activity by major IT/ITeS companies to fulfil surging work orders during the pandemic presents a potentially more upbeat picture for office leasing in 2022 and beyond. These firms have a healthy pipeline for the current year, as well
In a major trend reversal over the last eight years, the once-most active housing sales markets of Delhi-NCR have dropped sharply in their sales share. The western markets of MMR and Pune are now driving the most housing sales among the top 7 cities, ANAROCK data reveals.
While the stock market prices are at their peak, property prices have bottomed out and various offers and discounts result in further reductions in acquisition costs. Affordability of homes in top cities is also at its best – estimated to be 27% in FY21 as against 53% in FY12
2020 kick-started a trend reversal wherein larger homes - spacious enough to accommodate home offices and online study spaces for children - began to be in higher demand