Coliving, coworking and student housing have 7-11% higher rental yield than 3% national residential average, according to a CII-ANAROCK report.
Author: Arun Chitnis
PRESS RELEASE
ANAROCK Commercial Launched to Tap INR 63,000 Cr Office Strata Sale Market
- To focus on sales of office assets to corporates, HNI investors & end-users
- ~ INR 2.5 Lakh Cr worth of Grade A office space under construction in top 7 cities to be completed over the next 4 years; 25% (worth INR 63,000 Cr) up for strata sale
- ANAROCK Commercial already secures mandate marketing of 3 mn sq. ft. of office space in NCR & MMR; to capture 10% market share in 1st year of its operations
Mumbai, 28 January 2020: Close on the success of its residential services vertical, ANAROCK Group today announced its expansion into office real estate.
ANAROCK Commercial will focus exclusively on strata sale office assets. Industry veteran Bappaditya Basu has been appointed as Chief Business Officer – ANAROCK Commercial.
Anuj Puri, Chairman – ANAROCK Group says, “ANAROCK Commercial was a part of our expansion plan, and its launch is a natural next step after our resounding success in the residential sales market,
100 new malls spanning over 49 mn sq. ft. are scheduled to come up across the country by 2022-end, reveals the latest ANAROCK research.
ANAROCK data reveals that the price gap between ready-to-move-in (RTM) and under-construction (UC) homes in the top 7 cities reduced to a mere 3-7% in 2019.
The IT capital Bangalore has the lowest unsold inventory overhang at about 15 months while NCR has the highest at 44 months as on Q3 2019.
ANAROCK research indicates that nearly 81,300 unsold homes are currently ready-to-move-in across the top 7 cities.
Unlike its other major counterpart MMR, NCR has fared better in shedding its overall unsold stock on both quarterly and yearly basis.
Housing sales in Q3 2019 saw a quarterly decline of 20% across the top 7 cities - from 68,600 units in Q2 2019 to 55,080 units in Q3 2019.
Among the factors contributing to the escalating claustrophobia effect of shrinking apartment sizes, demand for affordable homes in metros tops the list.
ANAROCK’s report highlights that Raigad's overall residential market has outperformed its neighbours, including Mumbai, Navi Mumbai and Thane.