Residential Real Estate – Page 26

Nearly 54% of MMR Housing Supply Below INR 80 Lakh – ANAROCK Report

Mapping Mumbai’s emerging suburbs as the new growth corridors

65-70% of MMR’s housing launches in peripheries
Nearly 54% supply priced below INR 80 lakh
At 0.2 million units, MMR has 37% of unsold inventory in the top 7 cities

Mumbai, 15 November 2018: Between 65-70% of new housing launches in the Mumbai Metropolitan Region has been its emerging suburbs, states ANAROCK’s latest report ‘The Peripheries – Greater Mumbai’s Future Suburbs‘.

As knowledge partners for the event, ANAROCK unveiled the report at Economic Times’ ACETECH real estate trade fair in Mumbai today.

In the process of scoping out MMR’s new real estate growth corridors, this report clearly illustrates how the rising property prices in Greater Mumbai are leading to a natural housing demand progression towards the peripheral areas.

While Mumbai’s share in overall launches in MMR declined from 71% in 2013 to 67% in the first three quarters of 2018, Navi Mumbai has witnessed an increase in share from 9-17%.

Due to the expansion of city limits from Greater Mumbai to the peripheries, more than 1.8 lakh units since 2013 have been launched in the western and central peripheral regions.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

It is still too early to provide hard numbers of 2018 festive season’s property sales numbers as it is yet to conclude. Also, sales numbers are usually collated by the end of the fourth quarter.

However, trends in recent years suggest that the entire fourth quarter of the calendar year is seen as an auspicious time wherein housing sales rise. Considering the q-o-q trends in 2018, sales numbers have increased across the major cities.

For instance, housing sales in Q3 2018 increased by 9% as against the preceding quarter. In comparison to Q3 2017, sales increased by 15% in a year across the top 7 cities.

If we go by these numbers and look at the current scenario, we can expect sales to go up by 9-12% in Q4 2018 (the festive season quarter) as against Q3 2018. However, the ongoing liquidity crisis in Indian real estate could, to come extent, play spoilsport for developers this festive season.

While sales numbers have been increasing q-o-q, there is no significant change noted in the number of inquiries seen during this festive season so far.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

Senior living essentially refers to homes that cater to adults aged 55+ who are looking to live independently in a peer environment.

Seniors who gravitate towards such housing options tend to have no major health issues and are active enough to more or less take care of themselves.

Such projects usually provide a variety of facilities for recreation and socializing, including a clubhouse, health club or gym, facility management services, squarely focused on the needs of the elderly.

Assisted living, on the other hand, pertains to homes for adults who need some or considerable assistance to live their daily lives. These seniors are not entirely bed-ridden yet need assistance in their day-to-day lives.

Many of such seniors require nursing home care, including full-time nursing to assist in personal hygiene, ambulation and perhaps even feeding.

The more traditional old-age homes are establishments usually run by NGOs or government agencies and are populated by senior citizens who can, for any number of reasons, no longer cohabit with their families or are entirely homeless.

There are more than a thousand old-age homes in India with most of them offering free accommodation.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

4.25 lakh housing units ready-to-move-in in top & cities
Only 5% buyers will consider under-construction projects

RERA was supposed to save the day for homebuyers, but that doesn’t seem to have happened – at least not yet. In many states RERA, in its present form, is currently either non-existent or a pale shade of what it was intended to be. It is a fact that RERA has been diluted in some states to favour developers while in a few others it hasn’t even been deployed yet.

RERA’s primary area of focus is under-construction properties. After all, this is the area where buyers had been facing the most challenges on account of project delays, project plan deviations and various other issues.

As things stand now, states like Maharashtra, Uttar Pradesh, Gujarat, Karnataka, Punjab, Madhya Pradesh and Rajasthan have the benefit of operational RERA, but even in these states, the registration numbers are far from motivating.

While Maharashtra comes out on top with over 18,300 projects registered under it, other states where RERA has been implemented are lagging far behind.

by Anuj Puri

MMR, Pune, Bengaluru & Chennai accounted for 76% of the new supply
MMR saw max. jump in buys with 16% increase, NCR & Hyderabad lowest with 2% increase
Overall unsold housing inventory reduced by 2%

As anticipated, the real estate market across the top 7 cities in Q3 2018 stayed subdued. The quarter saw a meagre 3% increase in the overall fresh housing supply as against the preceding quarter.

These new launches were largely dominated by the lower-budget segment (< Rs. 40 lakh) with nearly 42% of the total new supply. 33% launches were in the mid segment (Rs. 40-80 lakh) and the remaining 25% in the luxury and ultra-luxury segments.

The third quarter of the year is usually a lull period due to the 15-day shraddh period, which is considered inauspicious for buying property. Consequently, builders keep new projects on hold for the ensuing festive season beginning early October.

In terms of purchases, there was a slight increase of 9% during the Q3 as compared to Q2 2018 across the top 7 cities of India.

by Soumendu Chatterjee

Soumendu Chatterjee, City Lead – Kolkata, ANAROCK Property Consultants

Commissioned in the late 1970s, EM (Eastern Metropolitan) Bypass in Kolkata was previously a long stretch of road abutting undeveloped land.

EM Bypass stretches from Bidhannagar to Kamalgazi and was built to create a high-speed link between the northern and southern fringes, and also to reduce the perennial traffic congestion on Gariahat Road.

EM Bypass connects some of Kolkata’s prominent localities such as Salt Lake, Maniktala, Park Circus area, Gariahat, Sealdah Railway Station, Jodhpur Park, Selimpur, Lake Gardens, Jadavpur and Garia. EM Bypass also provides excellent connectivity to distant parts of Kolkata and other cities.

Located close to Kolkata’s CBD (central business district), the EM Bypass region is today witnessing a surge in housing demand from thousands of employees working in the IT-ITeS companies, industries and public offices in and around it.

In addition to the continuous physical infrastructure upgrades such as ongoing metro and BRTS network, EM Bypass is adequately endowed with social infrastructure. There are a number of retail malls/shopping complexes, high-end hotels and restaurants, hospitals and educational institutions on both sides of the Bypass.

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

The festive season is considered auspicious for property purchase and Indians across many states prefer to make informed property buying decisions during this period.

To encash on the increased demand during the festive season, builders, on their part, leave no stone unturned to lure customers with freebies and discounts.

Over the last few years, mounting unsold stock across cities prompted developers to clear their stock and focus more on project completion rather than launch new ones.

Festive Season Offers

This year, launches have increased, and many builders have, in fact, been offering schemes, freebies and discounts all year long to attract home buyers.

Some of the prominent offers include cash discounts, flexi-payment plans, no registration or stamp duty fees, no EMIs till possession, free home appliances or gold coins, etc.

A lot is up for grabs and it is interesting to note the variations in festive discounts. Cash-starved developers are also coming up with some very innovative and attractive schemes.

If we analyse the trends during the year and previous festive season,

by Arun Chitnis

51% home buyers seek rental income, 39% prefer affordable housing

39% prefer to invest in housing priced below ₹40 Lakh
68% seek property for end-use; 52% favour compact 2BHKs
51% of investors focused on rental returns

As many as 81% of polled aspiring homebuyers acknowledge Indian real estate’s improved and improving transparency, discipline and accountability post implementation of regulatory policies, reveals ANAROCK Property Consultants’ ‘Real Estate Consumer Outlook: H2 2018’.

Commenting on the survey, Anuj Puri, Chairman – ANAROCK Property Consultants says, “With the now discernible impact of RERA, DeMo and GST, housing sales are seeing an upward trajectory in 2018 q-o-q. New launches have also gone up this year with affordable housing witnessing significant growth. NRIs see India’s rebooted real estate market environment conducive enough to justify property investments, especially on the back of the depreciating rupee.”

Nearly 69% of prospective buyers are looking to buy property for end-use
84% are looking for homes which are either ready-to-move-in or slated to complete in the next 6 months.

by Arun Chitnis

PRESS RELEASE

80% Of Navi Mumbai Launches Affordable-To-Mid-Segment – ANAROCK-CREDAI Report

Housing sales have exceeded launches in the past two years
At 36,400 units, Navi Mumbai has only 15% of MMR’s overall unsold supply
Navi Mumbai ranks 2nd in Ease of Living out of 111 cities, surpassing Greater Mumbai & Thane

Navi Mumbai, 5 October 2018: Nearly 80% of the overall residential project launches in Navi Mumbai from 2013 to H1 2018 are in the affordable (< INR 40 Lakh) and mid-segment (INR 40 Lakh – INR 80 Lakh) budget range, states a report by ANAROCK Property Consultants and CREDAI.

The report ‘Navi Mumbai – City of Possibilities‘ was released at the Capital Connect event organized by CREDAI BANM in Vashi, Navi Mumbai today.

Anuj Puri, Chairman – ANAROCK Property Consultants says, “If we focus on the unsold inventory, it emerges that Navi Mumbai has a mere 15% of the overall pent-up housing stock in MMR.

by Arun Chitnis

Piramal Capital & Housing Finance Announces the Launch of its Housing Finance Business in Nashik

25+ start-ups and 6,000 angel investors sharp-focusing on the city
726 MahaRERA registered projects in Nashik city out of 904 new and ongoing projects in Nashik
₹2,200 Crore as an estimated cost to turn Nashik into a Smart City

Nashik, 31st August 2018: CREDAI Nashik Metro & ANAROCK Property Consultants released a research report on Nashik: Land of Opportunities at the Capital Connect event held today in collaboration with Piramal Capital & Housing Finance. The report findings state that Nashik is emerging as a favoured investment destination.

The report focuses on Nashik’s immense potential as an exciting new destination for domestic and global businesses. In addition, Mr Jijina formally announced the launch of the housing finance business of Piramal Capital & Housing Finance in Nashik.

Mr Khushru Jijina, Managing Director – Piramal Capital & Housing Finance Ltd. Said, “Nashik exhibits tremendous potential as a promising new investment destination in North Maharashtra. We are delighted to announce the launch of our housing finance offering in Nashik – which marks our strategic foray into selective non-metro markets.

Nearly 54% of MMR Housing Supply Below INR 80 Lakh – ANAROCK Report

How Real Estate Fared in Festive Season 2018

Why Is Senior Living Still ‘Coming of Age’ In India?

Ready-to-move Vs. Under-construction – Caveat Emptor!

Q3 2018 – 3% Rise In New Housing Launches, 9% Jump In Buys: ANAROCK

Kolkata’s EM Bypass: Rapid IT-ITe-Fueled Development

Should You Buy a Home this Festive Season?

Real Estate Consumer Outlook – H2 2018

80% Of Navi Mumbai Launches Affordable-To-Mid-Segment – ANAROCK-CREDAI Report

CREDAI, ANAROCK, Piramal Capital & Housing Finance Release Research Report on Nashik – Land of Opportunities