NCR has maximum stalled stock of approx. 1,13,860 units (approx. value INR 86,463 Cr) or 66% of the total across the top 7 cities. Of the total stalled units in the region, 50% is in the mid-segment, followed by 24% in the affordable segment, 20% in the premium segment and 6% in the luxury category.
The previous desire to live in city centres - closer to workspaces, children’s school, etc. - has reduced markedly with the advent of WFH and e-schooling options in the post-pandemic world.
In Bengaluru, the affordable and mid-segments are driving residential demand. Given the good sales, developers saw it opportune to increase the average prices
Latest ANAROCK data reveals that over 4.22 lakh units are scheduled to be completed by 2021-end across the top 7 cities. Of this, NCR would see the maximum completions with a nearly 28% share, followed by MMR with 26% and Pune with approx. 18%.
As many as 58,290 homes were sold in the top 7 cities in Q1 2021 in comparison to 45,200 units in Q1 2020 - effectively breaching pre-COVID levels. MMR and Pune together accounted for 53% of housing sales in the quarter –
Fractional ownership platforms attract investors interested in not just building future income (in case of commercial or even residential properties) but also in accessing the property (resorts or vacation homes) personally for a specific period
While the stock market prices are at their peak, property prices have bottomed out and various offers and discounts result in further reductions in acquisition costs. Affordability of homes in top cities is also at its best – estimated to be 27% in FY21 as against 53% in FY12
2020 kick-started a trend reversal wherein larger homes - spacious enough to accommodate home offices and online study spaces for children - began to be in higher demand
Women’s preference for real estate has risen post-COVID-19 – from 57% votes in the pre-COVID survey to 62% in the current edition. Of 3,900 survey participants, 36% were women and of these, at least 70% consider the current time as ideal for buying a home
