Real Estate News – Page 23

Mumbai DP 2034 Receives the Government’s Nod

Anuj Puri, Chairman – ANAROCK Property Consultants

The Government’s approval on the long-pending Mumbai DP 2034 is a welcome move.

The DP is likely to spur real estate activity in the city and also pave the way for the development of much-needed affordable houses in Maximum City.

Let’s look at the major highlights and likely impacts of this Development Plan:

Highlights of DP 2034

Overall NDZ is 16,700 hectares of which around 12,900 have now been classified as Natural Area (NA), which includes parts of Sanjay Gandhi National Park, Mangroves, salt pans and parts of Film City and Aarey milk colony, along with a few regions under CRZ.
DP 2034 proposes to unlock 3,700 hectares of public and private land currently tagged as No Development Zones (NDZ) – this massive land unlocking will open new avenues for real estate development
There is a target to construct 10 lakh affordable homes through unlocking of NDZ – this is a major push for the affordable housing segment, and much needed to accommodate the ever-increasing population in the city
The largest additions to the city’s developable land banks in recent history
FSI levels in the Island City are raised up to 3,

by Anuj Puri

Addition of nearly 6,800 new units marks 127% increase over previous quarter

Emerging as the front-runner in the major South Indian markets in terms of new housing supply infusion, Bengaluru saw significant growth in new housing launches as well as absorption in Q1 2018.

In fact, Bengaluru saw highest launches among these markets with nearly 6,800 new units supply in comparison to Hyderabad and Chennai, which saw the launch of 2,600 and 2,100 units respectively. Bengaluru also leads on the absorption front, with a total of 11,500 units sold in Q1 2018.

“Increased commercial activity, positive buyer sentiments, infrastructure upgrades and improved job opportunities in the city have given a major fillip to Bengaluru’s housing market,” says Anuj Puri, Chairman – ANAROCK Property Consultants. “This market is largely driven by the end-users who were in a wait-and-watch mode so far. These buyers have now actively returned to the market on the back of the overall sentiment upsurge resulting from the Bengaluru’s rapidly improving market fundamentals.”

Supply & absorption trends – Bengaluru, Hyderabad & Chennai

Bengaluru realty on an upswing

“Even at a pan-India level,

by Anuj Puri

ANAROCK Property Consultants are exclusive marketing partners

5 typologies of apartments from 1BHK to 3 BHK, only four flats per floor
Attractive prices starting from Rs 18 lakh (inclusive of stamp duty, registration and other taxes)

Peninsula Land Limited, a leading corporate real estate developer which is part of the Ashok Piramal Group, today announced its foray into the affordable housing segment with the launch of its new project `addressOne` at a press conference.

Located at Gahunje, Pune, addressOne is spread across 50 acres and is strategically located on the Mumbai-Pune expressway, next to the MCA cricket stadium.

addressOne will be exclusively marketed by ANAROCK Property Consultants, who also launched an exclusive report on Gahunje’s growth from fringe area to growth precinct.

Download the report here: https://bit.ly/2Hbyqes

addressOne‘s strategic location just off the Mumbai Pune Expressway connects the project to Hinjawadi, which is less than 10 km away. In its first phase,

by Anuj Puri

Press Release

ANAROCK Launches Strategic Channel Partner Business Vertical

Bappaditya Basu appointed as Head – CP Business; new vertical to boost sales reach by 40%

Mumbai, April 2, 2018: India’s leading real estate services firm ANAROCK Property Consultants today announced the appointment of real estate industry veteran Bappaditya Basu as Head of its Channel Partner business.

As the first of its kind in the industry, the Firm’s Channel Partner vertical will focus on forging strategic international and domestic alliances within the residential consultancy space to create India’s largest real estate services network.

Bappaditya Basu, who was formerly National Director of Retail Services at international property consultancy JLL India, has over 15 years of hands-on experience in the real estate business and has operated across India, Sri Lanka and several South Asian countries.

He will be based out of ANAROCK’s Mumbai office and lead a team of seasoned operatives who are highly trained and experienced in channel partner management.

“This is an important appointment, given ANAROCK’s unique business services model and our rapid growth plans,”

by Anuj Puri

PRESS RELEASE

Chennai Saw Highest Housing Sales Dip In 2017, Bengaluru Lowest – ANAROCK Report

Unsold inventory decreased by 10% from 8.04 lakh units in Q4 2016 to 7.27 lakh units by Q4 2017

Mumbai, 22 March 2018: Fewer launches, subdued sales and muted property prices defined 2017 for the Indian residential real estate sector, according to a detailed report by ANAROCK Property Consultants.

With an annual decline of almost 50% in new launches and 15% decline in sales across top 7 cities in India, the sector was effectively shattered in 2017.

“A spate of policy reforms and structural changes literally crippled the sector,” says Anuj Puri, Chairman – ANAROCK Property Consultants. “Simultaneously and consequentially, it transitioned rapidly into a transparent and buyer-friendly one. With only end-users left to drive the market and investors more or less evaporating completely, developers throttled back severely on new launches to allow the market more scope to absorb the already staggering unsold inventory.”

2017’s Depressed New Launch Readings

The top 7 cities recorded new unit launches of around 26 lakh in 2017 as opposed to 2.50 lakh in 2016.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

The Reserve Bank of India’s stance of keeping the repo rate unchanged at 6% is exactly along the lines of our expectations.

Considering that the inflation has inched up (Dec-17 CPI at 5.21%, up from 3.58% in Oct-17 and well above the target of 4%), crude oil prices are rising in the international market and the Government plans to increase the crop support price, maintaining the lending rates unchanged is justified.

We believe that the interest rates will soon start inching upwards, which is already being factored into the rising bond yields for the past few months.

The real estate sector can and should look at the long-term economic prospects and implications on which the monetary policy decisions are based, as these will dictate the growth trajectory for the sector.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

All eyes were on the Finance Minister as he delivered his fifth full Union Budget – the last one before the general elections in 2019.

As expected, the budget turned out to be populist and sounded excessively cautious while the need of the hour was to provide a positive boost to the economy, which is reeling under the pressure of structural changes and policy reforms.

The Budget did not offer any substantial incentives to individual taxpayers, with slabs remaining constant. A change in the standard tax deduction in lieu of transport and medical expenses, which now stands at INR 40,000, was the only gift to the salaried class.

There was no change in tax savings on home loans, nor were the 80C limits raised. While this put paid to any hopes for significantly increased home buying appetite, there were some notable announcements with positive implications for the real estate sector:

The continued push for affordable housing

As many as 51 lakh houses in rural areas are to be built in 2018-19.

by Anuj Puri

Press Release

Santhosh Kumar Quits JLL, Joins Anuj Puri’s ANAROCK As Group Vice Chairman

New Delhi, 11 January 2018: Real estate industry veteran, Santhosh Kumar, today joined Anuj Puri’s new age real estate firm ANAROCK Property Consultants as Group Vice-Chairman, after more than a decade with international real estate consultancy JLL India as CEO – Operations.

He will be based out of ANAROCK’s Gurgaon office, with ANAROCK’s nine India offices, Dubai office and Finance reporting directly to him.

A long-standing associate of Anuj Puri, Santhosh Kumar was closely involved in the merger of Jones Lang LaSalle and Trammell Crow Meghraj (TCM) which created the largest international real estate consultancy in India.

As CEO of Operations, he had P&L responsibility of JLL India’s 11 offices, ensuring their seamless business operations and growth. He has over 20 years of hands-on experience in Indian real estate.

“Santhosh’s domain expertise, experience and impeccable relationships with the leading real estate players are invaluable assets for the Firm”,

by Anuj Puri

Press Release

ANAROCK Launches Report On Affordable Housing In NCR

Supply-absorption break-up of units priced < INR 20 lakh & between INR 20-40 lakh
Key hotspots, supply as per completion timelines

Delhi, 14 December 2017: ANAROCK Property Consultants today released its definitive research report ‘NCR – An Affordable Housing Goldmine’ at the Delhi leg of Economic Times’ ACETECH – Asia’s leading trade fair for architecture, building materials, innovation and design.

The report pitches the phenomenal expansion and urbanization rate of India’s largest planned region against the real estate industry’s affordable housing response. Intensely data-driven, this study lays bare the opportunities, shortcomings and challenges that Delhi-NCR presents to the real estate sector.

Anuj Puri, Chairman – ANAROCK Property Consultants says, “Affordable housing has once again taken centre-stage in all real estate forum discussion, and deservedly has the undivided attention of all industry stakeholders including developers, investors, customers and the Government. As India’s largest urban agglomeration, Delhi-NCR is extremely important from every perspective –

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

NCR has witnessed a 3 to 5% decrease in average per-square-foot property prices over the last one year (Q4 2016 – Q3 2017).

See chart below:

Currently, NCR has the maximum number of unsold units among all the top cities in India. An approximate 2 lakh unsold units are stocked up across different cities in the region. Greater Noida has maximum share of unsold inventory, followed by Gurugram.

There are many reasons for the price decrease in NCR. To begin with, excessive delay in project construction and possession has hurt buyers’ sentiments and led to subdued demand. Also, many projects have been stalled due to agitations and litigation issues.

The massive unsold inventory itself has acted as a sentiment suppressant – and finally, while demonetisation, RERA, and GST are potentially positive moves for the industry, they have played a significant role in reduced buyer sentiment, contributing to the price falls.

Prices are likely to remain stagnant for a few more quarters. Factors such as the huge unsold inventory,

Mumbai DP 2034 Receives the Government’s Nod

Bengaluru Housing Sector Outstrips Hyderabad, Chennai In Q1 2018

Peninsula Land Announces Affordable Luxury Project ‘addressOne’ at Gahunje, Pune

5 typologies of apartments from 1BHK to 3 BHK, only four flats per floor

Attractive prices starting from Rs 18 lakh (inclusive of stamp duty, registration and other taxes)

ANAROCK Launches Strategic Channel Partner Business Vertical

Chennai Saw Highest Housing Sales Dip In 2017, Bengaluru Lowest – ANAROCK Report

Monetary Policy – Lending Rates Unchanged, But May Inch Upward Soon

Budget 2018-19: Balanced But Not A Boon For Real Estate

The continued push for affordable housing

Santhosh Kumar Quits JLL, Joins Anuj Puri’s ANAROCK As Group Vice Chairman

ANAROCK Launches Report On Affordable Housing In NCR

Unsold Inventory Highest in NCR, Lowest in Hyderabad, Chennai, and Bengaluru