It’s all very well to exhort developers to cut their prices to push sales, but this is still a very incomplete narrative presenting only half of the story.
Category: Real Estate News
From a more than 100% difference between the two rates in certain areas in Mumbai, Pune, Gurgaon, etc. in 2015, some localities presently show a mere 6% variation
As per ANAROCK research, average property prices in the top 7 cities in the last decade (2010-Q1 2020) saw a close to 38% jump. The average price of a home in the top 7 cities rose from approximately INR 4,063 per sq. ft. in 2010 to INR 5,599 per sq. ft. by Q1 2020.
Currently, the top 7 cities account for almost 70% of India's residential market, with the remaining 30% accounted for in Tier 2 & 3 cities. This ratio may well change in times to come. Cities like Lucknow, Indore, Chandigarh, Kochi, Coimbatore, Jaipur and Ahmedabad would be the main beneficiaries of the reverse migration of professionals who have lost their jobs in the metros or are likely to.
Real estate is fundamentally a people business based on relationship-building - but as the proliferation of social media channels proves, there is more than one way for interactions to take place.
The government has extended the timeline for project completions and registration by 6 months and announced INR 30,000 crore special liquidity scheme for NBFCs/HFCs and MFIs
COVID-19 Sentiment Survey – Housing Now Preferred Asset Class, 59% End-users
Homeownership is now a compelling priority for millennials facing uncertain times. Out of the total voters favouring real estate, 55% are aged between 25-35 years - and 68% are end-users. In the H2 2019 edition of this survey, only 42% were in this age bracket.
Multi-level warehouses within city limits may well be Indian real estate's next big thing in a market completely transformed by the coronavirus pandemic.
Despite the lockdown, the ANAROCK Group has successfully closed sales of 240 homes worth INR 214.6 Cr. and 62 office spaces collectively worth INR 37 Cr.
In a major move to boost liquidity, the RBI announced additional measures to accelerate the economy and facilitate bank credit flows in Lockdown 2.0.