New IT, Electronics Policy To Drive West Bengal Housing Demand – ANAROCK Report

Services is the fastest-growing sector with 15.6% growth in 2017-18
Housing prices declined in Q4 2016 after DeMo, but recovered within 4 quarters to register positive growth.

Kolkata, 28 November 2018: West Bengal’s new IT policy to disseminate the IT-ITeS activities across the state for the benefit of the population in the fringe and rural areas.

This will be a game-changer for the state’s real estate market as well as its larger economy. This is one of the many highlights of the report ‘Kolkata: The East’s Icon of Balanced Growth‘ by knowledge partners ANAROCK at CREDAI StateCon today.

The report emphasises West Bengal’s aim to spread the reach of IT/ITeS across the state will help replicate the success of Eastern Kolkata in other parts of the state.

Anuj Puri, Chairman – ANAROCK Property Consultants says, “While West Bengal’s real estate market has witnessed only marginal capital values appreciation since 2015, some significant reforms by the State Government have infused a fresh spark into it.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

Co-working and car-pooling have become viable options for the millennial workforce, and an exciting new trend – co-living – is also beginning to make its mark with the burgeoning student population across Indian cities.

While it is largely the major cities like Bengaluru, Mumbai, Gurgaon and Pune that began promoting this concept, the demand for co-living spaces is also gradually percolating into tier 2 cities like Jaipur and Lucknow where both working millennials and students are increasingly opting for co-living spaces.

Co-living is much more than a mere bed-and-breakfast deal. These are fully-furnished homes where the privacy of tenants is respected. Private bedrooms with access to common shared areas like the kitchen and living room are the norm.

Such spaces offer convenience and an entirely new lifestyle for young professionals – most often bachelors and singles – who are not keen to change cities because of their work.

Their main concern is finding the right accommodation. For them, co-living is an ideal solution, and conventional paying guest facilities and hostels are gradually giving way to this more sophisticated way of living in a less inhibited and restrictive environment with ample opportunities to mingle.

by Santhosh Kumar

Developers should not replicate another Yamuna Expressway story

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

The inauguration of the much-awaited Kundli-Manesar-Palwal Expressway comes at a time when NCR residential real estate needs some serious booster shots to up its flagging game.

And, of course, any infrastructure initiative of such a scale always gets touted to be a game-changer for the real estate market of the concerned areas and regions.

The Indubitable Up-side

The peripheral realty markets of Gurugram and Delhi will benefit immensely from the opening up of this Expressway.

It will not only ease traffic but also create more demand for housing and most other real estate assets, including warehousing and logistics. Other than these, cities like Sonepat, Kundli, Manesar and Faridabad are also likely to see a boost in demand.

One of the immediate impacts of this mega infra project will be enhanced economic activity in areas along the Expressway. For instance, areas north of Delhi that had already become hubs for logistics and warehousing are likely to see spiked industrial investments in various sectors.

by Anuj Puri

Mapping Mumbai’s emerging suburbs as the new growth corridors

65-70% of MMR’s housing launches in peripheries
Nearly 54% supply priced below INR 80 lakh
At 0.2 million units, MMR has 37% of unsold inventory in the top 7 cities

Mumbai, 15 November 2018: Between 65-70% of new housing launches in the Mumbai Metropolitan Region has been its emerging suburbs, states ANAROCK’s latest report ‘The Peripheries – Greater Mumbai’s Future Suburbs‘.

As knowledge partners for the event, ANAROCK unveiled the report at Economic Times’ ACETECH real estate trade fair in Mumbai today.

In the process of scoping out MMR’s new real estate growth corridors, this report clearly illustrates how the rising property prices in Greater Mumbai are leading to a natural housing demand progression towards the peripheral areas.

While Mumbai’s share in overall launches in MMR declined from 71% in 2013 to 67% in the first three quarters of 2018, Navi Mumbai has witnessed an increase in share from 9-17%.

Due to the expansion of city limits from Greater Mumbai to the peripheries, more than 1.8 lakh units since 2013 have been launched in the western and central peripheral regions.

by Arun Chitnis

At Economic Times-powered ACETECH event on 15th November 2018 in Mumbai, knowledge partners ANAROCK Property Consultants will release their latest and most incisive report on MMR – ‘The Peripheries – Greater Mumbai’s Future Suburbs‘.

A veritable Who’s Who of Mumbai’s real estate industry is participating in a panel discussion on Mumbai: Resurgence and Preparation for The Big Leap

Panellists:

Dr Niranjan Hiranandani, Managing Director – Hiranandani Group
Venkatesh Gopalkrishnan – CEO, Shapoorji Pallonji
Parag Munot, Managing Director – Kalpataru
Vikas Oberoi, Chairman & Managing Director – Oberoi Realty
Sandeep Runwal, Chairman – Runwal Constructions
Shrikant Joshi, CEO – L&T Realty
Sangeeta Prasad, Managing Director & CEO – Mahindra Lifespaces Developers
Ashish Raheja, Managing Director – Raheja Universal
Hafeez Contractor – Architect Hafeez Contractor
Neel Chandra Raheja, President –

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

It is still too early to provide hard numbers of 2018 festive season’s property sales numbers as it is yet to conclude. Also, sales numbers are usually collated by the end of the fourth quarter.

However, trends in recent years suggest that the entire fourth quarter of the calendar year is seen as an auspicious time wherein housing sales rise. Considering the q-o-q trends in 2018, sales numbers have increased across the major cities.

For instance, housing sales in Q3 2018 increased by 9% as against the preceding quarter. In comparison to Q3 2017, sales increased by 15% in a year across the top 7 cities.

If we go by these numbers and look at the current scenario, we can expect sales to go up by 9-12% in Q4 2018 (the festive season quarter) as against Q3 2018. However, the ongoing liquidity crisis in Indian real estate could, to come extent, play spoilsport for developers this festive season.

While sales numbers have been increasing q-o-q, there is no significant change noted in the number of inquiries seen during this festive season so far.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

Senior living essentially refers to homes that cater to adults aged 55+ who are looking to live independently in a peer environment.

Seniors who gravitate towards such housing options tend to have no major health issues and are active enough to more or less take care of themselves.

Such projects usually provide a variety of facilities for recreation and socializing, including a clubhouse, health club or gym, facility management services, squarely focused on the needs of the elderly.

Assisted living, on the other hand, pertains to homes for adults who need some or considerable assistance to live their daily lives. These seniors are not entirely bed-ridden yet need assistance in their day-to-day lives.

Many of such seniors require nursing home care, including full-time nursing to assist in personal hygiene, ambulation and perhaps even feeding.

The more traditional old-age homes are establishments usually run by NGOs or government agencies and are populated by senior citizens who can, for any number of reasons, no longer cohabit with their families or are entirely homeless.

There are more than a thousand old-age homes in India with most of them offering free accommodation.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

4.25 lakh housing units ready-to-move-in in top & cities
Only 5% buyers will consider under-construction projects

RERA was supposed to save the day for homebuyers, but that doesn’t seem to have happened – at least not yet. In many states RERA, in its present form, is currently either non-existent or a pale shade of what it was intended to be. It is a fact that RERA has been diluted in some states to favour developers while in a few others it hasn’t even been deployed yet.

RERA’s primary area of focus is under-construction properties. After all, this is the area where buyers had been facing the most challenges on account of project delays, project plan deviations and various other issues.

As things stand now, states like Maharashtra, Uttar Pradesh, Gujarat, Karnataka, Punjab, Madhya Pradesh and Rajasthan have the benefit of operational RERA, but even in these states, the registration numbers are far from motivating.

While Maharashtra comes out on top with over 18,300 projects registered under it, other states where RERA has been implemented are lagging far behind.

by Prashant Thakur

Two lateral views from the revolving door

Prashant Thakur, Head – Research, ANAROCK Property Consultants

NRIs Eyeing Indian Properties

Ever since the Indian rupee began nosediving, more and more NRIs (non-resident Indians) have turned their focus to the Indian real estate market. There are good reasons for this.

Other than the favourable exchange rate, the new regulatory environment driven by RERA, DeMo and GST have served to clear up a lot of the misgivings that kept many NRIs from investing in property in India. However, that’s not all there is to it.

Most NRIs, regardless of whether they are permanently stationed or well-settled abroad, at some point entertain a fond wish to buy a home in India – if not for themselves, then for their families back home.

Buying a property is still a mark of prestige and accomplishment for any Indian, regardless of where they are in the world. Nor will most NRIs ever entirely shed a feeling of responsibility towards their families back home.

As per ANAROCK’s recent Consumer Sentiment Outlook survey,

by Arun Chitnis

Housing sales increase by 32% in a year, highest amongst the top cities
Unsold housing stock declined by 32%
Maximum new supply in the Rs. 40 – 80 lakh budget range

Bengaluru, 29 October 2018: Bengaluru’s real estate market has out-performed all other cities in terms of shedding unsold housing inventory, says the latest report by ANAROCK Property Consultants.

The report, released at ACETCH 2018 in Bengaluru last Friday, confirms that Bengaluru saw a remarkable decline of 25% in the total unsold stock across the top cities.

City-wise Unsold Inventory (in Units)

The report studies Bengaluru’s residential real estate trends since 2013, factoring in the city’s evolution in terms of infrastructure development, transport and connectivity.

Given the ever-escalating challenges the city faces on these fronts, a marked preference for walk-to-work options by homebuyers has become evident. That said, Bengaluru’s overall market profile retains most of its sheen thanks to its highly favourable confluence of market drivers.

Anuj Puri,

New IT, Electronics Policy To Drive West Bengal Housing Demand – ANAROCK Report

Co-Living Spaces In India: Rental Housing With A Progressive Twist

KMP Expressway, NCR – Caution, Work in Progress!

Nearly 54% of MMR Housing Supply Below INR 80 Lakh – ANAROCK Report

Upcoming ANAROCK Report at ACETECH 2018, Mumbai

How Real Estate Fared in Festive Season 2018

Why Is Senior Living Still ‘Coming of Age’ In India?

Ready-to-move Vs. Under-construction – Caveat Emptor!

NRIs Buying Indian Property, And Indians Buying Property Abroad

Bengaluru Sheds Maximum Unsold Stock In A Year – ANAROCK Report