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
Residential property prices across the top cities increased by 1-4% in Q3 2021 compared to Q3 2020, mainly due to an increase in construction cost. Data reveals that the top 7 cities collectively saw average property prices increase by 3% annually - to INR 5,760 per sq. ft. in Q3 2021 from INR 5,600 per sq. ft. in Q3 2020. Bengaluru saw the highest 4% annual rise to INR 5,150 per sq. ft.
The survey also highlighted the demand for bigger homes. At least 48% NRI respondents preferred larger homes of 3BHK configurations (>1,500 sq. ft.) while 28% favoured 2BHKs
As per latest ANAROCK data, of the total sales made in the first nine months of FY2021 (approx. 93,140 units) across the top 7 cities, the top 8 listed players’ share stood at 22% while non-listed leading players’ share was 18%. Non-branded developers accounted for a 60% share