Residential Real Estate – Page 30

A Quick Look at Golf Course Extension Road, Gurugram

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

The Golf Course Extension Road has emerged as one of the most sought-after residential corridors of Gurugram.

While not being priced as high as the neighbouring Golf Course Road, it offers multiple apartment options for the upper-mid segment moving up the value chain to luxury housing options as well.

This residential corridor has seen more than 8,500 residential apartment units launched overall, and many of them are in advanced stages of construction. Around 2,500 residential units have been delivered here with another 2,600 slated for completion by 2019-end.

This residential market has a good mix of end-user as well as the investor segment who have in the past achieved healthy capital appreciation across their investment/purchases. The healthy completions pipeline had also resulted in a robust secondary sales market in this corridor.

The consistent price appreciation on Golf Course Extension Road caused sales to dampen slightly, and the overall slow market for high-ticket sized apartments has also impacted the sales velocity in this corridor.

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Nestled in the foothills of Aravalli – one of the oldest range of folded mountains in India – Sohna was for long a major tourist attraction due to its lakes, hot springs, temples and many places of historical importance.

Located in the southern part of Gurugram, Sohna is also popularly known as ‘South Gurugram’. In the last few decades, Gurugram’s unprecedented economic growth has led to accelerated urbanization and rapid growth in migrant population flocking the city for employment.

Over time, the fast-paced growth in key areas such as MG Road, Udyog Vihar and Cyber City has created a ripple effect and pushed developments towards the western and southern parts of the city. This led to the emergence of new areas such as Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR) and Sohna Road – leading right up to Sohna town.

With proximity to various business centres and industrial clusters, good overall accessibility, affordable prices and planned infrastructure upgrades, Sohna is evolving as a key real estate destination for the working population of Gurugaram and surrounding regions.

by Anuj Puri

Anuj Puri, Chairman, ANAROCK Property Consultants

Green shoots of improvement in new launches; 100% month-on-month rise in new launch absorption levels

2017 has been an action-packed year, not just for the real estate sector but for the entire nation.

While the structural changes and policy reforms (demonetization, RERA and GST) shook up the economy, it imbibed financial discipline, accountability and transparency across various sectors.

As per the statistics released by Economic Survey, the Indian economy is expected to grow at 7 to 7.5% in 2018-19, eclipsing China to become the fastest growing economy.

In 2017, the performance of Indian residential real estate was lacklustre due to the sector’s transition from an unorganized to an organized one, amidst changing regulatory environment.

The big-picture reforms are making the market buyer-friendly and further attracting global investors to consider India as one of the preferred destinations for real estate investments.

With two months into 2018, ANAROCK Property Consultant’s research report presents some of the trends reflecting the state of residential real estate market across the country’s top seven major metropolitan cities.

by Anuj Puri

PRESS RELEASE

18% of MMR’s Housing Launches In 2017 Added In Thane – ANAROCK Report

53% of 70,000 units launched between 2012-2017 already absorbed

Mumbai, 8th February 2018: ANAROCK Property Consultants‘ latest research report ‘Thane – An Emerging Megapolis‘ highlights this city’s unstoppable rise to become one of the hottest real estate development and investment destinations in the Mumbai Metropolitan Region.

Launched at the MCHI CREDAI Thane Property Expo today, the data-driven report vouchsafes that Thane, driven by specific micro-markets, has not only shed its previous ‘industrial’ image but become a stand-alone real estate boom city.

“Thane’s emergence as a preferred destination for corporate office occupiers as well as homebuyers has been nothing short of spectacular, ” said Anuj Puri, Chairman – ANAROCK Property Consultants at the report’s unveiling. “Last year alone, the city contributed as much as 18% of the entire supply of housing project launches in MMR. Even more interestingly, of the 70,000 housing units that hit the Thane market in the last five years,

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Pune, known as an education hub and a prominent location for manufacturing industries, has evolved as an information technology hub during the last few decades.

Spread across 244 sq. km. and with a population of over 3 million, the city has rapidly transformed from a pensioner’s paradise to a bustling economic centre of India.

Well-connected to Mumbai – the financial capital of India – Pune is also well-networked to other major cities across the country, as well as the world.

In terms of Gross Domestic Product (GDP), Pune is ranked 6th in the top 10 wealthiest cities in India and the second-highest in Maharashtra (after Mumbai) in terms of GDP contribution.

The major sectors contributing to the city’s growing economy include manufacturing, education, tourism, and culture. The Mercer 2017 Quality of Living Rankings evaluated living conditions in more than 440 cities across the world and ranked Pune at 145 – second in India after Hyderabad, which ranked 144.

As per the same ranking, Pune featured among evolving business centres and nine emerging cities around the world,

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Pune, once known as a ‘pensioners paradise’, has transformed significantly over the past few years.

The booming IT/ITeS and manufacturing sectors led to a rapid makeover of the city, and working professionals from all parts of the country started flocking to Pune. The concentric development pattern of the city helped expansion in the suburbs and peripheral regions.

Undri and Ambegaon, located in South Pune, are in the process of becoming Pune’s next vibrant property boom areas over the next few years. More and more of Pune’s homebuyers now seek out residential destinations which still offer the unspoiled natural splendour and healthy environment which Pune was once famous for.

Such areas are increasingly hard to find in the face of the rampant real estate construction drive all over the city. The availability of large, contiguous land parcels for development in Undri and Ambegaon is another big advantage for the area, which for this reason lends itself particularly well to sizeable township projects.

This region’s history as far as real estate development is concerned is not very long.

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Once a small village located on the eastern periphery of Pune and defined by industrial developments, Wagholi has now transformed into a sought-after residential destination.

The housing boom in Wagholi kicked off primarily on account of vast availability of land parcels at affordable prices, low registration costs and easy legal procedures, as it falls under a Gram Panchayat area. Wagholi and its nearby areas have also witnessed a rapid growth of IT parks and other commercial centres.

Over a decade ago, Wagholi was seen as little more than an extension of the city. However, it has interesting historical antecedents – Wagholi was the centre of the ruling chiefs of Chhatrapati Shivaji, and it’s very ancient Wagheshar (lord of tigers) temple is a popular tourist attraction.

Located on the Pune-Nagar highway, Wagholi has been under transformation since 2007. The region began developing primarily due to the saturation of core areas in Pune. In addition, the advent of the IT-ITeS industry in the eastern parts of the city drove up real estate activity here.

The major growth drivers that contributed to the development of Wagholi include the presence of affordable projects,

by Santhosh Kumar

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants

Exponential urbanization and tremendous employment opportunities have made NCR one of the fastest-growing regions in the country.

It is the largest urban agglomeration in India, with more than 28 million urban residents (around 7.5% of overall country’s urban population).

The accelerated urbanization and rampant migration of working population from different states have created a tremendous need for affordable housing in NCR – and the requirement keeps growing.

A recent ANAROCK report shows that NCR comes out on top in terms of the number of units added in the affordable housing segment (priced < INR 40 lakh) during the last two years, and accounted for around 26 to 30% of the overall affordable housing segment’s supply across the top Indian cities.

The region’s share of new launches in the affordable segment has grown from a mere 21% in 2012 to 71% in 2017 (up to Q3).

While the entire region possesses the opportunity to shine in this segment, ANAROCK’s report has identified some pockets which qualify as the key destinations for affordable housing projects in NCR.

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Once a quaint settlement known for its scenic beauty with lush green trees and inhabited by Eurasians and Anglo-Indians during the late 1880s, Whitefield has witnessed a shift from being a settler’s haven to one of the sought-after real estate destination of Bengaluru.

Whitefield is one of the key tech hubs in Asia and has evolved as a preferred residential real estate destination.

Falling in the eastern periphery of the Greater Bengaluru region, Whitefield is a burgeoning micro-market with a rich history of over 200 years. However, the spurt of real estate developments in Whitefield dates back to early 2000s when the IT-ITeS sector began to boom.

The establishment of Export Promotion Industrial Park (EPIP) and International Technology Park of Bengaluru (ITPB) shaped Whitefield into a buzzing suburb. Today, more than four lakh ‘techies’ work in various multi-national companies located here.

Over the last few years, Whitefield’s skyline has metamorphosed into tall skyscrapers and big residential communities. The housing demand in this region is primarily driven by the IT professionals working in nearby office complexes.

by Anuj Puri

Matching shopping options with local purchasing power

Anuj Puri, Chairman – ANAROCK Property Consultants

Whenever I’m asked how real estate is performing in India, I have to ask the questioner to be a bit more specific. Real estate is not a single industry but consists of various categories/asset classes, and each behaves differently at the same time and at different times.

Residential, commercial and retail real estate each serve a very separate and distinct purpose, respond to a different type of demand and attract different types of investors.

However, it is equally true that all three categories are inter-related because they all depend on each other to drive growth. Residential projects tend to crop up around commercial office catchments, because that is where jobs are created, and employment drives the financial ability and appetite for homeownership.

Likewise, retail real estate developments are only feasible in and around residential and commercial catchments, since retail needs customers. What differs in these three asset classes are the ticket sizes, investment rationale, and investment horizon.

To invest in either,

A Quick Look at Golf Course Extension Road, Gurugram

Sohna – From Tourist Destination To Real Estate Hotspot

State Of India’s Residential Real Estate Sector – 2 Months Into 2018

18% of MMR’s Housing Launches In 2017 Added In Thane – ANAROCK Report

Pune Real Estate – The Calm Eye Of The Storm

Undri-Ambegaon – Major Growth Areas With Pune’s Historic Charm

Pune’s Wagholi – From Industrial Area To Hot Residential Destination

Emerging Affordable Housing Corridors In NCR

Bangalore’s Whitefield: From Anglo-Indian Village To Vibrant IT-ITeS Hub

How Residential And Retail Real Estate Sync Up In India