Anarock Group News

India’s Silicon Valley Bengaluru has again emerged as the numero uno city in terms of rise in rental yields in top 11 cities/regions of the country, according to an ANAROCK report. Mumbai was second on the list followed by Gurugram.

luxury housing segment. Latest data from the real estate consultancy firm indicates that out of NCR's total housing sales of approximately 32,200 units during January-June 2024, over 45 per cent share was in the luxury segment, and 24 per cent in the affordable segment. Back in 2019, sales of luxury homes were a mere 3 per cent while the affordable sales share stood at 49 per cent.

developer of dubious reputation, the former residents are regretting their decision. Mismanagement by the developer has brought the entire project to a standstill. Danish Patel, a 58-year-old resident, laments, “The developer went out of his way to pitch for our society’s redevelopment when others were showing limited interest. However, he abandoned the project midway when it became unviable for him due to his own mismanagement.”

«I think after a very-very long time I have discovered that the developers have been extremely mindful of bringing in more cash flows and deleveraging their position rather than continuously increasing the prices and somewhere hurt the sort of sales of their residential,» says Anuj Puri, Chairman, ANAROCK Group. Let us just get in a sense as to what you are seeing when it comes to the trend for housing prices in the Indian cities. Clearly, it seems that it has been on a rise, but at a time when we are looking at inflation moderating, how are you looking at the correlation between these two factors and what is the outlook when it comes to residential in particular? Anuj Puri: The residential market continues to surprise us. It is at a 15-year high and it does continue to remain very strong. The good thing is that we are not seeing abnormal price rise within the residential real estate market. And I think after a very-very long time I have discovered that the developers have been extremely mindful of bringing in more cash flows and deleveraging their position rather than continuously increasing the prices and somewhere hurt the sort of sales of their residential.

The recent inauguration of the Haryana section of the Dwarka Expressway by Prime Minister Narendra Modi signifies a stupendous leap towards comprehensive development in Gurugram and its surrounding regions. Spanning 29 kilometres, this expressway is a catalyst for economic growth, job creation, real estate boom, and a stepping stone towards Gurugram’s transformation into a vibrant urban place.

If you are one of those looking for a home under the Pradhan Mantri Awas Yojana (PMAY), then there is good news for you. The Modi government has approved the proposal to provide 3 crore additional rural and urban houses under PMAY.

The Reserve Bank of India today decided to keep the repo rate unchanged at 6.5%, leading to a rate pause for the eighth consecutive time. This decision bodes well for the housing sector which is already witnessing a strong demand across the country.

Amidst unprecedented global uncertainties beginning early 2023, the Indian real estate sector not only weathered the storm but has emerged as a beacon of resilience and adaptability during the year. On annual basis, housing prices rose between 10% and 24% across the top 7 cities, primarily due to increased input costs and strong demand.

The ‘bigger is better’ mantra continues to drive the Indian housing market. The FICCI-ANAROCK Consumer Sentiment Survey (H2 2023), unveiled at the FICCI Real Estate Summit in Delhi today, finds that the highest homebuyer demand is now for 3BHKs, with at least 50% respondents picking this size. 38% respondent favour 2BHKs. The demand for 3BHKs stood at 42% in the H2 2022 edition of the survey.

With the fundamentals of the Indian economy remaining strong despite all global headwinds and inflation well under control, the RBI once again decided to keep the repo rates unchanged at 6.5%, thus extending the festive bonanza that it gave to the homebuyers in its last two policy announcements. Thus, homebuyers retain their advantage of relatively affordable home loan interest rates.

The Reserve Bank of India (RBI) has kept the repo rates unchanged for the sixth time in a row at 6.5 per cent. The repo rate is the rate of interest at which RBI lends to other banks. The decision was made during the three-day RBI’s monetary policy committee which started on Tuesday (February 6-8). The RBI typically conducts six bi-monthly meetings in a financial year, where it decides interest rates, money supply, inflation outlook, and various macroeconomic indicators. 

The property market in the key cities of Uttar Pradesh is currently on a roll, including that of Ayodhya. And the historic inauguration of the Ram Mandir on January 22 is all set to give Ayodhya’s real estate a further boost. In fact, property prices in and around the city have already risen significantly during the last 4-5 years and are likely to surge further in the years to come.

Delhi-NCR has dipped from 1,23,692 units by 2022-end to approximately 94,803 units by 2023-end as it remained one of the most vibrant residential markets among the top 7 cities in 2023. Despite robust sales in the region last year, developers throttled back new supply to support the liquidation of previous unsold stock, leading to a significant reduction in market inventory. According to Anarock data, there was a 23% yearly decline in Delhi-NCR’s unsold inventory.

Despite hardening property prices and home loan interest rate hikes in early 2023, it has been a superlative year for Indian residential real estate. Latest ANAROCK Research data indicates that housing sales in the top 7 cities have created a new peak in 2023, breaching the previous high of 2022.

Among the top seven areas, Hyderabad saw the highest increase of 42% in the average price of premium homes in the five-year period. The price rose from Rs 7,450 per sq ft in 2018 to Rs 10,580 per sq ft during the first half of 2023. Bengaluru and MMR recorded the second-highest average price hike in this segment at around 27% each. In Bengaluru, the average price of a luxury home stood at Rs 10,210 per sq ft in 2018. Since then, the average price rose to Rs 12,970 per sq ft. In MMR, the average price in the luxury segment was Rs 23,119 per sq ft in 2018. It jumped to Rs 29,260 per sq ft at the end of the first six months of 2023.

RERA across 27 states and eight Union Territories have resolved up to 1,16,300 cases of homebuyers' disputes till November 28, 2023, according to ANAROCK Research report based on data from the Ministry of Housing & Urban Affairs (MoHUA). Out of this, 38% of cases, or approximately 44,602 complaints were resolved in Uttar Pradesh alone, ANAROCK said. Haryana came a distant second with 18% of cases or approximately 20,539 cases resolved in the state. Thirteen per cent of cases or around 15,423 cases were resolved in Maharashtra. The three states cumulatively accounted for nearly 69% of the total disposed cases under RERA in the country. «Resolving homebuyer concerns is one of the main functions of the Real Estate (Regulation and Development) Act, which it has been demonstrably fulfilling,» says Anuj Puri, Chairman — ANAROCK Group. “Uttar Pradesh has resolved the highest number of cases. Considering how severely Noida and Greater Noida in UP had been impacted by unscrupulous players, this is noteworthy.” RERA: State-wise list of total cases disposed

In the fast-growing housing market of India, where affordable residences for the economically underprivileged and opulent homes for the affluent take centre stage, attention is increasingly drawn to a crucial yet sometimes overlooked segment—the mid-segment homes.

Also Read: Real estate trends: Will the sector witness a rise in women homebuyers in 2024? Experts decode In just the first nine months of 2023, the total residential property sales value is already 7% higher than the whole of last year, with the top 7 cities seeing inventory worth approx. ₹3,48,776 crore sold in this nine months period, as per data by ANAROCK Property Consultants. Between January and September 2023, approx.

In a bid to tame inflation and sustain economic growth, the Reserve Bank of India (RBI) on Friday decided to keep the repo rate unchaged at 6.5% for the fifth time in a row, which is good news for both homebuyers and real estate.

The luxury housing segment continues to maintain a seemingly unstoppable growth curve in 2023. According to Anarock Research data, overall sales have been increasing steeply across the top 7 cities in 2023 compared to the previous year.

The Reserve Bank of India on Friday maintained the pause in the repo rate for the fourth consecutive time, which is good news for homebuyers.