Latest Real Estate News Delhi, India - Real Estate market in india

ANAROCK Property Consultants

72 Years of Independence – A Bittersweet Dawn for India’s Housing Sector

by Anuj Puri As India embarks on another year of independence, the country’s real estate sector has a lot to be grateful for, a lot to hope for – and still a lot to worry about. Amidst the dual challenges of liquidity crisis and stuck projects that hang like persistent thunderclouds over the sector, we nevertheless inch closer to the ultimate goal of Housing for All by 2022. From the viewpoint of stuck and delayed projects, the freedom to buy homes has turned into shackles for many. Over 1.74 lakh homes in 220 projects across the top seven cities are completely stalled. Housing worth over INR 1.77 lakh Crore is in limbo with zero construction activity. The affected buyers exercised their freedom of choice – only to see their hard-earned money imprisoned with scarce prospe...

New Luxury Housing Supply Triples in 2 Years Since DeMo

by Anuj Puri Along with the resale homes market, luxury housing took the hardest hit after demonetization. The Government’s continued focus on affordable housing coupled with the surgical strike on high-value currency denominations in November 2016 took the sheen off luxury housing for two years in a row. As a result, developers restricted new supply in the luxury category across the top 7 cities. However, ANAROCK’s most recent research indicates that while the affordable and mid-segment housing sectors continued to dominate the overall supply in H1 2019, luxury and ultra-luxury housing also saw a resurgence. As many as 16,100 new units have been launched in the luxury segment priced >INR 1.5 Cr across the top 7 cities – massively up from 5,240 units in H1 2017. Effectively, new l...

Construction Ban in Bangalore – A Steep Price for Negligence

by Anuj Puri  The Karnataka government has proposed to ban construction of new apartments in Bangalore for 5 years. This is a harsh scenario to ponder, considering that the reasons that led to its need are haphazard over-construction and negligence to implement proper water management. While these were certainly preventable reasons, let us examine this in the light of possible implementation. At the onset, the government needs to give more clarity on whether the ban applies to new projects or also includes those under construction. Assuming that the ban would apply to new construction within the city, this move could have a severe negative impact on the real estate market simply because demand for homes in Bangalore is massive. With reduced new supply in the market, there could be a negati...

ANAROCK Partners with Aldar to Market Its Abu Dhabi Properties in India

The ANAROCK Group, India’s leading specialised real estate services firm, has partnered with Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading property development, management and investment company, to market some of Abu Dhabi’s most sought-after properties to Indian investors and buyers. The partnership will provide Indian investors with direct access to Aldar’s portfolio of world-class destinations across Abu Dhabi. This includes: Mamsha Al Saadiyat, located on the beach adjacent to the capital’s iconic cultural district home to the Louvre Abu Dhabi, the much-anticipated Zayed National Museum, and the Guggenheim Yas Island developments such as Mayan, Yas Acres, and Water’s Edge (all close to Ferrari World and Warner Bros World) and Algh...

GST Council Meet – Real Estate’s Hopes Vs Reality

by Anuj Puri The real estate sector is obviously not without its own hopes from the first GST Council meeting of Modi 2.0. Reducing the GST rate for cement from the current 28% slab to 18% had been a long-standing demand of industry stakeholders. That said, while the announcement of such a reduction would certainly help developers, the ‘real’ question is whether homebuyers would benefit. This depends on whether the benefits of the reduced cost of raw materials is actually passed on to the consumers. It brings to mind a similar question related to home loan rates vis-a-vis RBI’s announcement of repo rate reductions. The actual transmission of such reductions to home loan borrowers has been minimal, even though the RBI lowered its repo rates three consecutive times. The hop...

Unsold Luxury Housing Stock Declines 12% in 1 Year

-Overall unsold inventory of luxury homes (priced INR 1.5 cr – INR 2.5 cr) declines to 42,650 units in Q1 2019 from 48,300 units in Q1 2018 -MMR currently accounts for maximum share at 56% -Bangalore sees 49%, Kolkata 37% yearly decline in total unsold ultra-luxury homes -NCR and MMR each saw a 7% decline in pent-up luxury inventory during the year -Mid-segment (INR 40 lakh – INR 80 lakh) saw max. reduction with 14%; affordable (<INR 40 lakh) saw a 3% rise in total unsold stock in this period   Anuj Puri, Chairman – ANAROCK Property Consultants The slowdown in Indian residential real estate over the last few years caused most high net-worth individuals (HNIs) to shun luxury housing and look at other investments within or outside real estate. However, ANAROCK’s latest study indicates tha...

Indian Commercial Real Estate Beckons NRIs

 Shajai Jacob, CEO – GCC (Middle East) – ANAROCK Property Consultants India’s commercial office property asset class presents a profitable alternative for NRI investors looking at maximising returns and generating fixed income while simultaneously maintaining a low-risk investment profile. The attractiveness of good capital appreciation, as well as rental yield, has increased NRI inventor demand for Grade A offices, IT parks, logistics centres – and now REITs as well. A good commercial property can give an average rental yield of 6-10% and the current rental yield from residential property is a mere 1.5-3.5%. The same growth range holds true for capital appreciation. The upsurge of India’s commercial office market began in 2017 and has been further boosted by the ar...

Is Indian Real Estate Still a Profitable Investment Asset Class?

by Anuj Puri, Chairman – ANAROCK Property Consultants Let’s get straight into this question, which has been a concern among all stakeholders – financial planners, property owners, investors and prospective buyers – over the last few years. And only because real estate, particularly residential, did not yield the same returns as it did during its Golden Era of the early 2000s. Past trends reveal that between 2013 to 2018, residential property price appreciation in India bottomed out to a mere 12% – effectively a little over 2% on a yearly basis, even for properties in prime locations. So, if one bought and sold such property within this period, their returns would have been less than satisfactory. After all, during the boom era between 2004 and 2008, the average five-year return...

Unsold Housing Inventory Overhang Hits New Low in 2 Years

Indian homebuyers are gradually returning to the market and taking advantage of favourable property prices and cuts in GST and home loan rates earlier this year. ANAROCK’s most recent data reveals that residential inventory in the top 7 cities overhang plunged to 30 months’ worth in Q1 2019 against 50 months in the corresponding period in 2017. Unsold inventory in Delhi-NCR drops to 50% – from 90 months in Q1 2017 to 45 months in Q1 2019 Bangalore & Hyderabad’s current inventory levels at an all-time low of 15 months each Pune’s unsold inventory at 28 months, followed by Chennai with 30 months; MMR & Kolkata with 35 months each Top 7 cities’ cumulative unsold stock declines by 16% in 2 years – at 6.65 lakh units in Q1 2019 Top 7 cities’ unsold inventor...

Chennai’s New Affordable Hubs with ‘Walk-to-work’ Convenience – RealtyMyths

Perungudi, Thalambar, Perumbakkam, Mogappair, Vanagaram, Iyappanthangal and Gerugambakkam offer low property prices & proximity to major employment hubs Property prices in these micro markets range from INR 3,400 per sq. ft. to INR 7,800 per sq. ft. Social & physical infra in these locations almost at par with other well-developed residential hubs Following Bangalore’s example, Chennai IT/ITeS professionals choose ‘walk/cycle-to-work’ to save on commute Sanjay Chugh, City Head – Chennai, ANAROCK Property Consultants With cities growing rapidly and infrastructure not keeping pace, the daunting work commute given a massive impetus to the ‘walk-to-work’ concept in India. Cities like Bengaluru, Pune and Hyderabad were the forerunners of this primarily IT/ITeS-driven phenomenon. C...

Homing in on HSR Layout, Bangalore – RealtyMyths

Developed by the Bangalore Development Authority (BDA) decades ago, HSR Layout – home to upper-crust residents and even some ministers – is strategically located between major IT hubs including Electronic City, Outer Ring Road and Sarjapur Road. Not surprisingly given these excellent location antecedents, HSR Layout has transformed into a major residential-cum-commercial hotspot of Bangalore. This micro-market is largely defined by sizeable bungalows, small builder-floor apartments, wide roads, several small parks and well-established retail options. It is also one of the most self-sustained localities in the city. A Unique Lifestyle Quotient Its proximity and easy connectivity with major IT hubs make HSR Layout a preferred residential destination for IT professionals working in nearby Inf...

Jewar International Airport: Revival for Noida and Greater Noida? – RealtyMyths

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants By what seems like a cruel twist of fate, the grounding of the country’s largest airline coincided with provisional construction approval for India’s largest (by surface area) airport at Jewar in Noida. It may be recalled that the Allahabad court dismissed petitions filed by farmers and gave in-principle approval to commence the construction of Jewar International Airport, which is estimated to be built at a cost of USD 3.1 bn. Naturally, the expectation is that just like any mega infrastructure project, this greenfield airport will give a major boost to the overall economic activity around Noida and Greater Noida region. Let’s take a closer look. Economic Impact Once completed, Jewar International Airport will not only eas...

  • 1
  • 2
  • 8
Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.