ANAROCK's latest retail report states that Indian mall developers are looking to add over 65 mn sq. ft. of new mall supply across the country by 2022-end.
Category: India Property
A GST rate cut on cement will reduce the overall cost of development - but will developers pass this benefit on to buyers?
Real estate players with high-recall brands have upped their game and accounted for a whopping 56% share of the total housing supply in 2018.
Housing for All is all set for a renewed lease on life - and indeed faster momentum - under Modi 2.0, and will transform India when fully achieved.
Kolkata’s new launches recorded a massive drop of 85% during the period with merely 1,000 units being launched in Q1 2019.
- 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.
If we compare commercial real estate yields to those for residential properties, it becomes evident why many HNI NRIs prefer investing in the former.
The availability of land parcels in some micro markets in South-Central Mumbai has led to large-scale development of luxury homes and commercial spaces.
Attractive Prices Lure 61% Hyderabad Homebuyers, 50% in NCR Respond to RERA Implementation – ANAROCK
Attractive Prices Lure 61% Hyderabad Homebuyers, 50% in NCR Respond to RERA Implementation – ANAROCK
- Current avg. property prices in Hyderabad hover around INR 4,170 per sq. ft. – the lowest among all top 7 cities
- In the last 5 yrs. the city’s average prices have risen by 15% – 3rd only to Pune & Bangalore that saw 25% and 16% appreciation respectively
- Hyderabad micro markets with max. absorption in last one year was Pocharam, Bachupally, & Kondapur
- 50% of buyers in NCR bought property due to effective RERA implementation while 58% of buyers in Kolkata were driven by lower home loan rates
E-commerce biggies may be toning down their offers, but discounts and freebies are still alive and kicking in real estate – and developers are going all out to lure buyers with attractive deals and discounts. Is it working?
As per the recent ANAROCK Consumer Sentiment Survey, as many as 50% buyers across the country bought homes due to attractive prices.
Anuj Puri, Chairman – ANAROCK Property Consultants
Co-living, like car-pooling and co-working, is the result of demand for more evolved rental housing solutions coming from millennials, students and young working professionals whose choices differ vastly from those of previous generations.
Currently, this new accommodation option is most popular with young and unmarried millennials aged anywhere between 20-30 years. Professionals who don’t live with their families in the city of work are also considering this option.
Co-living provides such individuals with a way to circumvent the isolation and loneliness that is often integral to a hectic, driven urban experience.
While the primary demand for co-living spaces currently comes from such tenants, the concept itself is a lot more ‘accommodating’. In fact, the future may very possibly see demand for co-living solutions coming single seniors, as well.
Cities such as Pune, Bengaluru, Gurgaon, and Mumbai first saw this new concept emerge in force, and it is now also taking root in smaller cities such as Lucknow and Jaipur – basically, in cities with a large student and millennial workforce population.