the Q3 2020 base period saw nearly 29,520 units sold across the top 7 cities - much lower than the pre-COVID-19 quarter (Q1 2020) which saw nearly 45,200 homes sold. This effectively results in a larger scope for growth.
Tag: ANAROCK Report
High-intensity focus on making India a global manufacturing hub has caused warehousing clusters to expand rapidly beyond the top cities and into tier 2 and 3 cities, reveals a joint report by US-based Binswanger Commercial Real Estate Services and ANAROCK Group
Indian real estate SaaS providers deliver integrated software solutions - customized not only to Indian real estate environment but also to individual players.
Historically, the major demand driver for NRIs investing in Indian real estate was their eventual inevitable return to India. The general sentiment of a post-COVID-19 reverse exodus to India has thrown this driver into sharper relief.
Currently, the top 7 cities account for almost 70% of India's residential market, with the remaining 30% accounted for in Tier 2 & 3 cities. This ratio may well change in times to come. Cities like Lucknow, Indore, Chandigarh, Kochi, Coimbatore, Jaipur and Ahmedabad would be the main beneficiaries of the reverse migration of professionals who have lost their jobs in the metros or are likely to.
COVID-19 Era – Wellness Real Estate in Focus
Wellness amenities such as yoga studios, meditation rooms, spas, gymnasiums, tennis courts and jogging tracks became the new rage among urban homebuyers.
COVID-19 Sentiment Survey – Housing Now Preferred Asset Class, 59% End-users
Homeownership is now a compelling priority for millennials facing uncertain times. Out of the total voters favouring real estate, 55% are aged between 25-35 years - and 68% are end-users. In the H2 2019 edition of this survey, only 42% were in this age bracket.
ANAROCK data reveals that of the total housing supply of 1,39,490 units in the top 7 cities H1 2019, merely 39,840 units meet these criteria
- Infrastructure & real estate together contribute 29.5% to India’s GDP – higher than US (22.6%) and China (17.6%)
- Budget allocations in infra see massive jump – from USD 791 bn in 2014-15 to USD 2,042 bn in 2019-20
- Sector attracted massive FDI worth INR 207 bn in last 5 years backed by growing economy & strong fundamentals
New Delhi, 01 March 2019: In line with its aim to enter the USD 5 trillion club economy by 2025 – which is highly dependent on real estate and infrastructure – the Government has taken a multi-modal approach towards infrastructure development in the country over the last five years.
Besides boosting the overall economy, this ‘infrastructure first’ approach is also steering real estate growth across India, finds the report ‘Infrastructure and Real Estate – A Fulcrum for Change and Economic Growth‘ by ANAROCK Property Consultants and Association of Infrastructure Industry (India).
The report was released at the Infrastructure Summit 2019, organized by the Association of Infrastructure Industry (India) in Delhi today.
Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants
- Just 63,000 ready units currently benefit out of total 6.73 lakh units across top 7 cities
- Nearly 22,000 ready unsold units completed before 2017 don’t benefit from new rule
- 33% of 5.88 lakh unsold under-construction units in the luxury segment – 49% in MMR – will not benefit immediately
Just when the real estate industry was preparing to give the budget a complete thumbs down, the finance minister sprung a surprise ‘bonanza’ for the sector in the last 10 minutes of his speech. Or so it seemed.
Without a doubt, affordable housing gained amidst what was essentially a mass-appeal budget. However, it was the extension of tax relaxation on notional rent for unsold inventory for another year that cheered developers.
However, under closer scrutiny, it is unlikely to benefit a majority of them as on date.
Anti-climax for developers
Basically,