Unsold inventory decreased by 2% from 7.27 lakh units in Q4 2017 to 7.11 lakh units by Q1 2018
According to ANAROCK Property Consultants’ latest research, 2018 has started on a positive note with residential unit launches making a comeback and recording a 27% increase in Q1 2018 from the previous quarter across top 7 cities of India.
With policy reforms and structural changes now in place, developers are intent on making up for the lost ground.
In Q1 2018, sales across top 7 cities of India also rose by 12% compared to Q4 2017, indicating that serious homebuyers are back, attracted by the new environment of transparency, accountability and financial discipline.
“The series of policy reforms and structural changes have transformed the way Indian real estate business is conducted. This has been a definite blessing. The sector is by no means out of the woods yet, but we are now seeing some green shoots of recovery,” says Anuj Puri, Chairman – ANAROCK Property Consultants. “The market has turned end-user friendly and 2018 is bringing new launches that match demand.
Conceptualized as an industrial town, Sector 150 falls in the peripheral area of New Okhla Industrial Development Authority (NOIDA).
During the mid-2000s, Sector 150 evolved as an IT hub and subsequently attracted real estate developments primarily due to effectively-planned layouts.
Situated at the confluence of Yamuna and Hindon rivers along the bustling Noida-Greater Noida Expressway, Sector 150 is now one of the preferred residential destinations of Noida. The key factor which differentiates Sector 150 from other regions is the presence of massive green spaces.
The land use planning of Sector 150 has been undertaken in a pattern that ensures 80% of the 600-acre land parcel remains under greenery and only the remaining 20% is allocated for construction activities. Nearly 42 acres of land are dedicated specifically for parks and recreational facilities.
This micro-market is equipped with good social infrastructure including reputed educational institutions, hospitals and shopping complexes. Sector 150 is currently flourishing with real estate activity, and there is a visible rise in residential developments, integrated townships, commercial spaces and mixed-use developments.
In my opinion, only disruption can save the day for the Indian real estate sector. Both because of the groundbreaking policy reforms now in place and the changing mindset of real estate consumers, the old ways of doing business simply cannot prevail any longer.
What is required are new ideas, new ways of conducting business, and a far greater focus on accountability and transparency than has been evidenced by the industry so far. ANAROCK Property Consultants is a new benchmark for impeccable values, corporate governance and customer-focus in the Indian real estate space.
On my entrepreneurial streak
If one has it, the entrepreneurial streak is not something that will be denied for very long. I had to fulfil my obligations to my previous firm in the manner which the role required of me,
ANAROCK Property Consultants are exclusive marketing partners
5 typologies of apartments from 1BHK to 3 BHK, only four flats per floor
Attractive prices starting from Rs 18 lakh (inclusive of stamp duty, registration and other taxes)
Peninsula Land Limited, a leading corporate real estate developer which is part of the Ashok Piramal Group, today announced its foray into the affordable housing segment with the launch of its new project `addressOne` at a press conference.
Located at Gahunje, Pune, addressOne is spread across 50 acres and is strategically located on the Mumbai-Pune expressway, next to the MCA cricket stadium.
addressOne will be exclusively marketed by ANAROCK Property Consultants, who also launched an exclusive report on Gahunje’s growth from fringe area to growth precinct.
Although sustainable real estate is still in a nascent stage in the country, India is actually one of the leading counties when it comes to green buildings development.
In fact, India ranks only second after the U.S. in terms of the number of green technology projects and built-up area.
As of September 2017, more than 4,300 projects utilizing green technology, accounting for approximately 4.7 billion sq.ft. of built-up area, are registered in India as per data shared by IGBC.
True, this is only 5% of the total buildings in India. However, the country’s market for green buildings is expected to double in the next few years and may reach up to 10 billion sq.ft. by as early as 2022 – at a valuation of between US$ 35 billion to US$ 50 billion.
ANAROCK Launches Strategic Channel Partner Business Vertical
Bappaditya Basu appointed as Head – CP Business; new vertical to boost sales reach by 40%
Mumbai, April 2, 2018: India’s leading real estate services firm ANAROCK Property Consultants today announced the appointment of real estate industry veteran Bappaditya Basu as Head of its Channel Partner business.
As the first of its kind in the industry, the Firm’s Channel Partner vertical will focus on forging strategic international and domestic alliances within the residential consultancy space to create India’s largest real estate services network.
Bappaditya Basu, who was formerly National Director of Retail Services at international property consultancy JLL India, has over 15 years of hands-on experience in the real estate business and has operated across India, Sri Lanka and several South Asian countries.
He will be based out of ANAROCK’s Mumbai office and lead a team of seasoned operatives who are highly trained and experienced in channel partner management.
“This is an important appointment, given ANAROCK’s unique business services model and our rapid growth plans,”
When it comes to the factors influencing recruitment trends in Indian real estate in 2018, a lot comes to mind.
However, there are three interesting developments which can be considered predominant among them:
Adeptness in digital technology and upskilling to Digitech skills are definitely prime watchwords for selecting the right candidates. To be sure, technology is the change driver around which more and more real estate recruitment decisions will be taken.
This is because, whether an industry which tends to hang stubbornly on to the traditional ways of doing its business likes it or not, technology will replace – and in fact is already replacing – at least 75% of the traditional methods of sourcing real estate opportunities at both the buyers’ and sellers’ end.
In this highly opportunistic market, operational speed is of the greater essence than ever before, and the use of technology to achieve this speed is indispensable.
Nor is this increasing focus on technological skills limited to just consultancies –
Since Mumbai is the commercial and financial capital of India, almost all major Indian corporates, as well as leading Indian PSUs and MNCs, have their offices set up in the city.
Traditionally, Nariman Point in South Mumbai (the traditional Central Business District) was the preferred location for high-grade office occupiers, and therefore commercial office space investors.
However, today Bandra-Kurla Complex (BKC) has emerged as an alternative location to the traditional CBD. It has become more acceptable to MNCs as it offers a better-built environment. The Suburban Business District (SBD) in the North of Mumbai is also a major commercial office market.
Geographically, this micro-market contains all areas in Andheri, Jogeshwari and Juhu. However, a lot of the Grade A office buildings are to be found in the Andheri East area.
In the past, Andheri was known as a ‘suburban district’ which was absorbed by Mumbai city as Greater Bombay. It emerged as one of the prime residential and commercial real estate destinations.
Andheri East is a mixed land use precinct with some of the most prominent hospitality and industrial developments in its vicinity.
Gurugram is home to around 1,500 start-ups and is the 4th largest start-up hub in India. As the city hosts the behemoths of the start-up industry, it makes sense to delve a little deeper into this fascinating new office space sector in Millennium City.
Emerging commercial office locations in Gurugram, as also in Bangalore, Navi Mumbai and Hyderabad, have benefited significantly from the Indian start-up euphoria. This trend is likely to continue for some time given the availability of large talent pool and availability of real estate spaces.
The start-up eco-system in India has been a key contributor to the rise in investments and job creation. Many start-ups that commenced operations in later part of the previous decade have already become medium-sized or large companies, particularly if we look at some of the popular e-commerce companies in India today.
From zero contribution to office space take-up, the e-commerce sector today contributes over 3% of the total office space absorption on an annual basis. We expect the growth in this sector to increase over time.
A quick look at the numbers of the first month of 2018 reveals that the market is changing for good. With new launch sales of 500 units across the top 7 cities of India in January 2018, new launch sales have doubled from December 2017.
This uptick is a major motivational boost to stakeholders who had been grappling with subdued demand for the past few years. Although a couple of months into 2018 are not a major indicator of how the markets will behave during the ensuing months of the year, they surely provide guiding cues.
As ANAROCK’s Annual Residential Report 2017 illustrates, there are certain teething troubles in the sector that is adjusting to the new ways of doing business, and a few trends are likely to stick around in 2018:
A continuing buyers’ market
With the crackdown on black money and benami transactions, stringent norms and compliances under the RERA regime, investors – and, more importantly, speculators – have been pushed out of the market.
The Indian real estate sector was extremely buyer-friendly in 2017 and presented an opportune time to ‘seal the deal.’ This trend is likely to continue in 2018 as well and may,