Real Estate – Page 23

Focus On Safety Measures In High-Rise Buildings

Anuj Puri, Chairman – Anarock Property Consultants

With several property developers in Delhi-NCR and elsewhere developing skyscrapers of 150-250 metres and more, an increasingly pressing question being asked by property buyers is whether they safe.

This is obvious and natural, given the increasing incidence of fires, earthquakes and building collapses that the media throws at us fairly regularly. Let us take a closer look at this.

As opposed to the scenario seen in more developed countries, there are still various problems with implementing strict norms for the structural safety and fire safety for high-rise buildings in India. In fact, as we have seen in a recent case of a residential tower in London, this can present a challenge even in such global cities.

However, considering the rapid pace of urbanization being seen in cities like Delhi-NCR and Mumbai, there definitely need to be stricter and enforceable safety norms for skyscrapers. Here are some guidelines.

Earthquake Resistance:

While fire safety is one aspect, earthquake resistance of high-rises is a relatively lesser cause of concern.

by Anuj Puri

Anuj Puri, Chairman – Anarock Property Consultants

Every year, the end of August ushers in the beginning of festive season in India.

Religious sentiments lead innumerable Indians to plan important purchases and investments – including real estate – during this period.

Naturally, developers also plan for these months well ahead of their arrival with a view to cash in on this positive sentiment.

Unfortunately, last year’s festive season did not meet their expectations as buyers stayed away from the market – primarily due to execution delays, an uncertain economic scenario and unattractively high prices.

Demonetization also played a key part in the depressed sentiment – not only in the resale market as was at first expected, but in primary sales as well.

Most aspiring home buyers deferred their purchase decisions, preferring to wait until RERA kicked in fully. Though most developers offered compelling discounts and schemes, buyers stuck to their cautious approach during the last festive season.

However, the 2017 festive season has started on an altogether different and far more positive note.

While structural reforms by ways of RERA and GST have helped firm up buyer sentiment,

by Anuj Puri

PRESS RELEASE

ANAROCK Property Consultants Acquires LJ Hooker’s Indian Operations – Redwoods

Strategic acquisition to boost ANAROCK’s capability in integrated real estate solutions, dedicated design center in Bangalore

Bangalore, August 30, 2017 – Consistent with its focus on becoming India’s leading residential real estate solutions company, ANAROCK Property Consultants Pvt. Ltd. has announced the acquisition of Redwoods, the Indian arm of LJ Hooker, based out of Bangalore. The acquisition was closed today, with ANAROCK absorbing all Redwoods employees.

Anuj Puri, Chairman – ANAROCK Property Consultants says, “The acquisition of LJ Hooker’s Redwoods is in line to our overall business strategy and will help us augment our operations across key southern markets. It will give us unparalleled competitive advantage in offering customized real estate solutions. With its strong presence and unique multi-pronged approach, ANAROCK is decoding unmatched value for both B2B and B2C clients.”

by Anuj Puri

Sales exceed number of units launched across India over the last 18 months

Anuj Puri, Chairman – Anarock Property Consultants

2Q17 marks a record low for units launched across India, even as sales continue to outdo new units getting constructed in a quarter for the 6th consecutive quarter.

A total of over 20,000 new units were launched across India’s top seven cities in 2Q17, while the corresponding number was slightly higher at over 26,000 units in 1Q17.

by Anuj Puri

Investments in Indian realty at $1990 million 1H2017; residential accounted for 54% ($1075 million) of total investments

Anuj Puri, Chairman – ANAROCK Property Consultants

In Indian real estate today, the untrained eye may see a dichotomy in the massive investments pouring into the Indian residential sector and the actual on-ground demand for housing.

A similar question mark was, in the past, also attached to the fact that developers kept churning out projects despite the visibly reduced uptake over the last couple of years. The fact is, there are always at least two storylines unfolding – the first and most obvious is the short-term story.

Currently, residential demand is still subdued due to the uncertainty brought on by many regulatory upheavals – all of which were necessary to make Indian real estate a better marketplace.

To begin with, the Government’s unexpected demonetization move late last year put a severe dampener on the resale market and also impacted the primary market to some extent.

Even as the markets were recovering, RERA and GST – both of which were predicted and expected –

by Anuj Puri

Anuj Puri, Chairman – Anarock Property Consultants

In the 71 years since India gained independence, the country’s real estate market has changed tremendously. While it has not always been consumer-favouring throughout this period, it is certainly so today.

The country’s cities have expanded, new economic drivers have come in and jobs are being created at all levels. Likewise, appropriate housing is now being created for all income levels.

The current Government has taken the needs of the people to heart and deployed various policy initiatives to ensure that homeownership becomes affordable and desirable.

by Anuj Puri

Anuj Puri, Chairman – Anarock Property Consultants

The repo rate has been reduced by 25 bps to 6.0 per cent, reflecting the slightly accommodative stance that the Monetary Policy Committee has taken as it agreed that headline inflation has come down significantly.

While many inflation upside risks have not manifested themselves as yet, the MPC feels that inflation may trend upwards going forward based on farm loan waivers, states passing on increased salaries / allowances and expected pressures on food inflation. The RBI remains more committed to keeping inflationary pressures under check.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

With the revival in Indian residential real estate well underway, it is pertinent to turn our attention to which formats have been in high demand at every given juncture.

Such awareness is primarily useful from an investor’s point of view, but anyone who tracks Indian real estate out of purely academic interest cannot fail to be interested, either.

The Value Chain

Despite a lot of ambiguity attached to the term, affordable housing rules the roost today.

With the Government having a taken a sharp-focus policy approach to boosting this segment and employment market opening up once again, mass-housing makes more sense today than ever before.

Mid-income housing, which comprises of the 2/3BHK formats in not-so-remote locations, is also seeing a pickup in interest from buyers, with ready-to-move options in RERA-compliant projects by reputed developers selling well.

Luxury housing was one of the major losers after the demonetization move and has now taken an extreme back seat. However, there is one niche segment which still holds its own to a great extent.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

By now, it has become quite clear that as a generation, Millennials have a very different take on home ownership than their parents and grandparents did.

This trend has been studied extensively in the West, but it has made itself quite obvious in India too. How do Millennials view home purchase differently in general, and in India in particular?

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants Pvt. Ltd.

The switchover to the GST regime is undoubtedly one of the biggest tax reforms in post-independence India. From July 1 2017, GST effectively cuts through a confounding Gordian knot of taxation complexity in the country.

In other words, it replaces the multiple taxes levied by the central and state governments and will become subsumed of all the indirect taxes, including central excise duty, commercial tax, octroi tax/charges, Value-Added Tax (VAT) and service tax.

Focus On Safety Measures In High-Rise Buildings

Residential Realty Poised For Revival In Festive Season 2017

ANAROCK Property Consultants Acquires LJ Hooker’s Indian Operations – Redwoods

2Q17 Sees India Residential Inventory Overhang Drop To 10-Quarter Low

Massive Investment Boost To Indian Residential Sector In 2017

Independent India – A Real Estate Perspective

Reaction To RBI’s Monetary Policy – August 2017

A Closer Look At Boutique Luxury Homes

How Millennials Have Redefined The Indian Residential Market

The Impact Of GST On Residential Real Estate