Redevelopment projects in Mumbai may begin picking up pace again. There are no real alternatives - the biggest problem for real estate development in Mumbai is land scarcity. There are very few opportunities for greenfield developments in the more valuable city centre areas.
The housing market in the top 7 cities is likely to attain a new peak by 2023, when housing sales are estimated to cross 3.17 lakh units and new launches by 2.62 lakh units during the year. City-wise, MMR and Bengaluru are all set to lead from the front
The BFSI sector is finally seeing the feasibility of looking beyond MMR. Cities with sub dollar (under USD 1/sq/ft.) office rents and enough relevant talent pools are now gaining momentum.
Between 2016 and the first half of 2021, corporate and national developers like Godrej Properties Ltd., TATA Housing, Hero Realty, Sobha Ltd., Shapoorji Pallonji Group, Birla Estates and Mahindra Lifespaces took centre-stage.
NCR has maximum stalled stock of approx. 1,13,860 units (approx. value INR 86,463 Cr) or 66% of the total across the top 7 cities. Of the total stalled units in the region, 50% is in the mid-segment, followed by 24% in the affordable segment, 20% in the premium segment and 6% in the luxury category.
COVID-19 has driven a lot of latent demand into tier 2 and 3 cities. This demand is driven by the improved economic growth, infrastructural developments, lower cost of living and more attractive real estate prices in these cities.
At least 67% (or approx. USD 67 bn) of the total loan advances (USD 100 bn) to Indian real estate by banks, NBFCs and HFCs is currently completely stress-free, reveals the latest study by ANAROCK Capital. Another 15% (approx. USD 15 bn) is under some pressure but has scope for resolution with certainty on at least the principal amount.
ASTRA accelerates housing sales and enhances revenue turnover by 12-15%. The system's algorithm analyses customer behaviour data to yield highly accurate leads, thereby boosting marketing efficiency, reducing costs
Noida accounted for the maximum new luxury share (73%) in the first half of this year, followed by Gurugram with a 22% share, and Greater Noida with a 5% share.
- Of 36,260 units launched in Q2 2021 in the top 7 cities, the premium segment (priced b/w INR 80 lakh to INR 1.5 Cr) had the highest share (approx. 13,130 units); mid-segment (INR 40-80 lakh) had a 32% share (nearly 11,760 units)
- Hyderabad, Bengaluru & Chennai together comprised a 72% share of total new premium supply in the second quarter
- Covid-19 dents affordable housing supply share – reduced to 20% (approx. 7,230 units) as of Q2 2021
- In the pre-COVID-19 period, affordable housing supply share dominated; post-pandemic, share drops dramatically from 40% in 2019 to 30% in 2020 – at 20% in Q2 2021
- Developers strategically following trends – buyers of affordable homes most affected economically by COVID-19; high unsold affordable housing stock another concern at 33% of total 6.54 lakh unsold units in top 7 cities by Q2 2021-end
The pandemic has significantly altered previously dominant trends in the Indian residential market. Notably, it has dented the overall new affordable housing supply share across the top 7 cities. Latest ANAROCK research indicates that out of the total new launches of approx.
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