ANAROCK research indicates that nearly 81,300 unsold homes are currently ready-to-move-in across the top 7 cities.
Category: India Property
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.
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.
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.
Amaravati has created a brand name for itself globally. At present, a lot of administrative and legislative services are operated from the city.
The age of property buyers is an important demographic variable which Indian real estate stakeholders and advertisement agencies must focus on.
The residential real estate market in Gujarat’s top city Ahmedabad has been riding high on affordable housing projects over the last five years.
Among the factors contributing to the escalating claustrophobia effect of shrinking apartment sizes, demand for affordable homes in metros tops the list.
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,