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anuj puri

Subvention Schemes Ban will impact only 8% of the total 280 Housing Projects launched in Q2 2019

The National Housing Board’s (NHB) recent directive to housing finance companies to refrain from giving loans under subvention schemes was not as crippling as was initially assumed. ANAROCK research reveals that out of the total 280 projects launched in the April-June quarter of 2019, only about 23 projects (or 8%) were marketed under subvention schemes. These 23 projects comprised of 7,620 units – about 11% of the total 69,000 units launched in the quarter. Anuj Puri, Chairman – ANAROCK Property Consultants says, “The ban on subvention schemes will doubtlessly contribute to the sector’s overall liquidity issues as players can no longer use them to attract customers. However, only a limited number of developers were affected by this move. That said, our data also reveals ...

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...

RBI Repo Rate Cut: A Significant Boost Ahead Of The Festive Season For The Real Estate Sector

by Santosh Sinha The real estate industry welcomes the decision by the Reserve Bank of India to cut the Repo Rate by 35bps, 4th consecutive rate cut in the year 2019. And why not, the sector is about to enter the festive season. The real estate developers expect to boost their sales in the upcoming quarter, provided the respective banks pass on the benefits to the end consumers before that. Anshuman Magazine, Chairman & CEO, India, South East Asia, Middle East & Africa, CBRE, describes, “The Reserve Bank of India’s decision to cut the repo rate by 35 basis points is a welcome move. In a scenario where there is pressure on GDP growth, the move will spur investment and boost consumption activity in the economy. We believe that this announcement might result in a further reducti...

Real Estate Budget Wish List: More Tax Benefits Needed To Generate Demand

by Anuj Puri With the Modi Government taking full charge, all sectors have pinned high hopes from the finance minister – who is already saddled with multiple issues including the slowing economy, liquidity crunch due to NBFC crisis, lack of job creation and rising NPAs, among others. Without compromising on fiscal prudence, the Finance Ministry will have to present a budget that is not only inclusive but also assures growth across industries. It clearly shoulders a considerable share of responsibility for retaining India’s position as the fastest-growing economy. Since real estate is one of the major contributors to the GDP growth and can help the government resolve the shortfall in job creation quite a bit, it is naturally expected that the upcoming budget will help the industry. Be...

Can South-Central Mumbai Handle its Luxury Oversupply?

 Anuj Puri, Chairman – ANAROCK Property Consultants Luxury housing in South-central Mumbai is rarely out of the news. Mumbai’s legendary playing ground of Bollywood celebrities and high-flying business tycoons has been a constant magnet for HNIs and UHNIs from both within the city and beyond, and everyone from start-up founders to C-Suite professionals has an inherent yen to live here. It has a total unsold inventory of approx. 11,000 units as on Q1 2019 Substantial unsold stock is of large-sized properties with lower demand Multiple options have increased the gestation cycle for luxury projects sales Ticket sizes in south-central Mumbai go to over INR 80 crore; INR 15 crore in other tony areas While the demand for luxury homes in South-central Mumbai is beyond dispute and its real e...

Modi Returns, Will The Real Estate Reforms Return Too!

Modi is back! Yes, a month-long festival of democracy came to an end with the verdict going in favor of the Narendra Modi-led NDA government. Remarkably, this time the brand Modi broke its own record and came back with more seats than 2014. Among all, the business community was the one which started the celebration from the morning itself. The Sensex opened with a 500 points rise and crossed 40,000 marks, a first in the history of Sensex. The real estate sector too showed the jubilation, and why not! being sidelined for long, the real estate sector came into limelight only when the Narendra Modi came into power. The destiny of India’s real estate started changing only when the Modi-led NDA government realized the importance of ‘house’ and thus, tried to put the house in o...

ANAROCK: New launch homes demand rises 13% – RealtyMyths

RERA implementation & lower GST revive consumer faith in new launches; 36% of buyers still prefer ready-to-move-in units Lower prices influenced >50% homebuyers to purchase homes in 2018; nearly 52% would buy again with the same developer End-user-driven Bangalore saw 44% of respondents buy homes for investment 70% of prospective buyers prefer properties under INR 80 lakh Tier 2 & 3 cities new investment hotspots; Bangalore favourite investment destination for NRIs While ready-to-move-in homes remained the preferred choice for several homebuyers, new launches (which drew the least consumer interest in the previous survey) saw a decent revival according to ANAROCK’s Consumer Sentiment Survey H1 2019. Over 18% of respondents now prefer new launch properties as against mere 5% in t...

General Elections: The Real Estate Connection – RealtyMyths

Anuj Puri, Chairman – ANAROCK Property Consultants A new Government with a clear majority raised optimism in 2014 Nearly 5.45 lakh units launched in the year and nearly 3.43 lakh units sold – previous year saw the launch of approx. 4.6 lakh units) and lower sales Long-term benefits of recent reforms will accrue only with the continuity of their enforcement by this or the next Government During an impending general election, real estate stakeholders conjecture exhaustively about the likely impact on the real estate market. Conventionally, the period between the announcements of the election date till the final result day is a period marked by caution and hesitancy in the overall real estate market. While investors generally refrain from making market plays in this waiting period...

Housing Sales may surge in Gudi Padwa 2019 – RealtyMyths

  Anuj Puri, Chairman – ANAROCK Property Consultants Gudi Padwa is a traditionally auspicious time to invest in real estate in India. While Gudi Padwa is a Maharashtrian concept, the period of oncoming spring and the sense of renewal it brings is acknowledged across the country. Punjab has its Baisakhi, Andhra Pradesh has its Yugadi, Tamil Nadu celebrates Puthandu and Kerala knows it as Vishu. Historically, Indians have always seen certain dates as highly auspicious for property purchase and other wealth-creation measures. For this reason, property sales tend to spike up during festivals like GudiPadwa and builders align various offers, schemes and discounts with them to encourage this brief phenomenon. In recent years, this trend came in on a more subdued note because of the prevailing co...

NCR and MMR Lead Affordable Housing in Last 5 Years – CII-ANAROCK Report – RealtyMyths

NCR and MMR account for 55% share of total 6 lakh affordable units launched across the top 7 cities; NCR saw maximum supply Of the total 3.98 lakh units sold in sub INR 40 lakh category, NCR & MMR hold 57% share Pune comes next with 1.13 lakh units launched and approx. 75K units sold in the affordable segment Bengaluru, Chennai & Hyderabad saw the least activity in the affordable segment It is the biggest shift that the Indian real estate market has seen so far. The previously ‘unaffordable’ real estate markets of NCR and MMR have led the thrust of affordable housing – in both new supply and housing sales – over the last five years. ANAROCK Property Consultants’ latest report ‘Affordable Housing: The Blue-Eyed Boy of Indian Real Estate’ confirms that t...

Banks vs HFCs: Which Is the Better Home Loan Option? – RealtyMyths

Anuj Puri, Chairman – ANAROCK Property Consultants After zeroing on a property, buyers need to identify a suitable home loan lender to fulfil their financial needs. Officially, there are two major lenders in the market – banks (including both public and private banks) and the housing finance companies (HFCs). To get the best deal, a buyer must select a lender depending on their prevailing interest rates, eligibility criteria, processing fee and other factors. Both banks and HFCs have their own pros and cons. A closer look! Banks vs HFCs: The Better Option? Declaring an outright ‘winner’ among the two options is indeed difficult. Earlier, the steep interest rates of HFCs gave banks an edge. However, now there is a parity between the two as most HFCs offer loans at rates wi...

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