Anarock Group News

Despite rising property prices and interest rate hikes in the last one year and more, demand for mid-range and premium homes remains high. The ANAROCK Consumer Sentiment Survey (H1 2023) indicates that at least 59% of the 5218 survey participants will buy mid-range and premium homes (priced from Rs 45 lakh to Rs 1.5 crore). This is a 10% sentiment increase for homes in this budget category over the survey’s H1 2020 edition.

Rapid urbanization, an influx of job opportunities, and the transformative rise of economical home options have amplified Bhiwadi as one of the top investment locations in the National Capital Region (NCR). Located on the Rajasthan-Haryana border, Bhiwadi is a well-planned city that is easily connected to Gurugram through NH-8 and is located at a mere 45-minute distance from the Millenium city. The city is known for its systematic and meticulous town planning, divided into three belts — industrial zone, commercial zone, and residential zone. Oftentimes, it has been credited as a new growth vortex shining as a beacon of hope in terms of growing urbanization, industrial development, and rise of residential real estate with the emergence of affordable housing and plot settlement options compared to cities like Dharuhera, Manesar, and New Gurugram, etc.

Shaktikanta Das said. “The concept entails putting in place a clear method for resetting the rate of interest on loans of this kind. The Governor of the Reserve Bank of India has highlighted this plan, emphasising the necessity for an easier and more organised approach regarding interest rate changes," said LC Mittal, Director, Motia Group.

₹12,400 per square feet and at this point in 2023, have increased to around ₹15,350 per square feet, it added. Among the cities, Hyderabad emerged as the frontrunner in luxury home price growth, seeing a staggering 42% increase in average price from ₹7,450 per square foot in 2018. Bengaluru and the Mumbai Metropolitan Region (MMR) recorded a notable 27% appreciation each.

Even as the Indian luxury homes segment is firing on all cylinders, affordable housing continues to languish due to pandemic-induced demand changes and various other factors. Both supply and demand for affordable housing are shrinking, according to latest ANAROCK Research data.

The unfettered demand for housing across the country has enabled the country’s leading large and listed developers to reduce their debt, reveals an analysis of the financials declared by the top 8 developers engaged in the development of residential real estate.

If you have taken a home loan or were planning to go for one in the near future, here’s good news for you. As widely expected, the RBI maintained status quo on key policy rates in its December monetary policy on Wednesday. While no change in the repo rate was expected, there was the possibility of the reverse repo rate being hiked, which also didn’t happen.

Post demonetization, Indian housing sales have outstripped new supply, reveals ANAROCK Research. Confusion and uncertainty immediately after demonetization notwithstanding, the negative impact has receded after a major market derailment within the first year of its announcement.