As per latest ANAROCK data, the average monthly rentals in the prominent luxury micro-markets across the top 7 cities increased anywhere between 8-18% in the last two years. Mumbai’s Worli saw the highest rental growth of 18% in the period – from INR 2 lakh per month in 2020 to INR 2.35 lakh in 2022 for luxury homes of minimum 2,000 sq. ft. area.
Indian luxury housing has performed remarkably well post the pandemic, with overall sales rising steeply across the top 7 cities. Latest ANAROCK Research data finds that of approx. 1.84 lakh units sold in these cities in H1 2022, about 14% (approx. 25,700 units) were in luxury homes. In contrast, of 2.61 lakh units sold in the whole of 2019, just 7% (approx. 17,740 units) were in the luxury category.
An analysis of buyer behaviour in the top seven cities in the last fiscal year FY21-22 shows that nearly 80% of demand is for mid-end and high-end homes, with the affordable housing segment accounting for a mere 10% of the demand.
this is the first time that in a quarter, NCR’s total unsold stock clocked in lower than in South India's collective unsold stock. In the West's MMR and Pune, the unsold stock declined by 10% between the pre and post-pandemic periods - from approx. 3.07 lakh units by Q1 2020 to approx. 2.75 lakh units in Q1 2022.
Approx. 99,550 units were sold in Q1 2022 – a significant increase of 71% over Q1 2021. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 89% sales in the quarter
Despite the withdrawal of all the sops by the state government, residential sales momentum in Maximum City has remained strong in the current fiscal. This indicates that the city’s housing demand is on a winning streak despite the withdrawal of stamp duty benefits.
36% of participating women homebuyers prefer 2BHKs - a clear preference trend for bigger spaces. 38% of women buyers want to buy homes in city peripheries, 30% will buy within city limits
The survey finds that an under-10% increase would have a moderate-to-low impact. However, an increase of over 10% would have more profound repercussions on buyer sentiment.
ANAROCK Group's Capital Markets division has announced the successful conclusion of a transaction for 32 acres of prime land in Pune's realty hotspot Wagholi
Allocation of INR 48,000 Cr for PMAY Urban and Rural will push forward its ‘Housing for All’ initiative. Under PMAY, the government plans for 8 Mn houses in FY’23
