While it leads in terms of disposal of cases, UP has seen the lowest growth of 22% in project registrations in the past three years. In October 2019, the state had approx. 2,710 registered projects while the current number stands at approx. 3304 projects, indicating that the primary focus in UP has been on project completions rather than new launches.
As per the CII-ANAROCK Consumer Sentiment Survey - H1 2022, demand for 3BHKs has outstripped that of 2BHKs for the first time. At least 44% of respondents preferred 3BHKs, followed by 38% favouring 2BHKs. In the survey's H1 2021 edition, 46% preferred 2BHKs, and 40% voted for 3BHKs. T
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.
ANAROCK Research reveals that between January 2022 till date, various entities sealed at least 28 separate land deals cumulatively accounting for over 1,237 acres across the country. Of the total transacted land, at least 18 deals accounting for 351 acres are earmarked for multiple residential projects across cities.
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.
Coworking spaces have become the most preferred option to adopt the hybrid work model, compared to the other options of changing office layouts or the hub-and-spoke model
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.
The S&P BSE Realty Index, an indicator of real estate companies’ performance on the bourses, grew 204% between 1st Apr 2020 to 12th Jan 2022, surpassing all sectoral indices’ returns as well as outperforming the broader market.
Predictably, the secondary sales or resale housing market proved far more vulnerable to demonetization than the primary market. This segment, along with luxury housing, historically drew the bulk of 'cash components'.
Rising vacancies in the main southern cities can largely be attributed to increased new office space additions in the period. Altogether, the three cities saw new office space addition of 12.95 mn sq. ft. area in H1 FY22, accounting for nearly 58% share of the total new completions in top 7 cities