The housing inventory overhang across the top 7 cities plunged to 32 months by 2021-end, closing in on the 30 months reading by 2019-end
Category: Real Estate
In the upcoming Union Budget 2022-23, some significant moves could help spur up residential demand
NCR saw housing sales increase by 73% - from 23,210 units in 2020 to 40,050 units in 2021. With this performance, NCR comes second only to MMR in terms of sales during the whole of 2021.
Of the four quarters, Q4 2021 was by far the best, with housing sales in the top 7 cities attaining a new high of approx. 90,860 units in Q4 2021. This was the highest quarterly sales performance since 2015."
Reviewing the overall performance of the Indian residential real estate market in 2021 shows a definite upswing. Between Jan - Sep 2021, 1.63 lakh units of new residential supply were added across the top 7 Indian cities - 27% higher than 2020 full year supply - and 1.45 lakh units were sold - 5% higher than in the whole of 2020.
The quality of the site office can lead to better per-unit revenue for the developer. Even in new markets, the combination of a developer's brand and an excellent site/sales office can deliver adequate sales numbers even without show flats.
Land-starved MMR saw 11 land deals involving 768 acres of area – a 64% share of the total 1,205 acres of planned residential development across the top cities. NCR came a distant second with 4 separate deals
Currently, approx. 35 Mn sq. ft. of flexible office stock is available across the country. Of this, approx. 71% or 25 Mn sq. ft. is by the large operators. Approx. 3.7 lakh flexi seats are currently spread across the major Tier I and Tier II cities of India.
In the approx. 4.5 years since RERA was fully notified, 71,307 projects have been registered under it across the country as of November 2021. Maharashtra, Gujarat, and Karnataka lead in project registrations to date with 31,664, 9,272, and 4,497 projects registered respectively.
The top 9 listed players collectively sold homes worth INR 10,669 CR in Q2 of FY22 (July to September). Their booking revenue in this given quarter rose by a staggering 89% against the same period in the last fiscal (Q2 FY21), when it was INR 5,645 Cr.