Latest ANAROCK data reveals that the price gap between ready-to-move-in (RTM) and under-construction (UC) homes reduced to a mere 3-5% by Q1 2021. In 2017, the difference between the two categories was anywhere between 9% to 12% across cities, while in 2018 it was 5-8%.
2020 kick-started a trend reversal wherein larger homes - spacious enough to accommodate home offices and online study spaces for children - began to be in higher demand
The housing industry needs focused measures to further bolster demand in 2021. This year, the demands go beyond the usual suspects of single-window clearance and industry status.
ANAROCK’s year-end data indicates that the top 7 cities saw total home sales of over 1.38 lakh units in 2020 against approx. 2.61 lakh units in 2019 – a decline of 47%.
The Model Tenancy Act provides a clear roadmap for states to follow and tweak according to their local conditions and market. It remains to be seen to what extent the states will toe the central government’s line.