Housing

The locality had a total housing supply of 4,600 units till 2024, with an average price of Rs 75,000 per square foot

Demand for residential properties remains "very strong" across major cities but the euphoria seen in the last few years is mellowing down a little bit, said Pirojsha Godrej, the executive chairperson of Godrej Properties. Godrej Properties is one of the leading real estate developers in the country. It became the largest listed realty firm in 2024 in terms of sales bookings or pre-sales by selling more than Rs 28,000 crore worth of properties. In an interview with PTI, Pirojsha Godrej noted that there is no demand slowdown in the housing market, as reflected from the company's pre-sales numbers. "Am I seeing a slowdown in demand. The answer is 'No'. Because we have seen Rs 500 crore plus sales in our new housing project launches in five different cities (during the December quarter) across North, South, West and East India. That to me is pretty indicative of a very strong housing market," he said. Pirojsha added: "But, I would say that some of that euphoria is perhaps mellowing dow

Old, dilapidated structures could be turned into new residential units but work to turn them around is challenging

Cut-offs rise by 7-10 bps since rate cut

Student enrolment in higher education was 43.3 million in 2021-22, increasing 26.5 per cent from 34.2 million in 2014-15, according to data from the Ministry of Education

Increased spending on large-scale housing and infrastructure projects announced in the Budget by the finance minister Nirmala Sitharaman will drive demand for construction materials, and allow capacity expansion, said cement makers. The Budget presents a vision for India's economic growth emphasising rural and urban development, increased infrastructure investment, employment-led growth and strategic investments, said the Cement Manufacturers' Association (CMA) welcoming the Union Budget. "The focus on increased investments on infrastructure across states amplifies opportunities and avenues for the growth of the cement sector. We appreciate the sustained core focus on infrastructure and reiterate our commitment to being partners in the Nation's progress," said CMA President Neeraj Akhoury. Moreover, the government's push on large-scale housing and infrastructure projects will drive demand for construction materials and help in capacity expansion, he said. "We are certain that despi

Under the SWAMIH Fund, 50,000 dwelling units in stressed housing projects have been completed, and keys handed over to homebuyers

In India, today, 95 per cent of housing loan requirements come from economically weaker sections (EWS) and low-income groups (LIG) who can't afford a house

Housing prices are likely to rise 3-4 per cent next fiscal on high base effect and better supply, according to India Ratings and Research (Ind-Ra). The rating agency expects the housing price rise to taper in the 2025-26 financial year. Ind-Ra expects property prices to increase 5-6 per cent year-on-year (YoY) in 2024-25 fiscal, then moderate to 3-4 per cent YoY for 2025-26, due to base effects and new launches. Prices surged 21 per cent YoY in 2023-24 with old stock cleared and existing inventory largely liquidated, the agency said. Ind-Ra has maintained a neutral outlook for the residential real estate sector for the next fiscal. "Growth in bookings is likely to reduce significantly due to the high base, high prices and a likely slowdown in the luxury segment," it said. The residential real estate market is expected to register a strong performance in 2024-25, where the sales growth will be around 17 per cent YoY in terms of area sold (square feet of area sold) and around 15 pe

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100 per cent tax on properties that non-European Union residents buy. Spanish Prime Minister Pedro Sanchez announced the plan this week which will tackle housing affordability and high rents in the Southern European nation. He said the overall goal was to provide more housing, better regulation and greater aid. However, it remains unclear if the plan put forth by Snchez's minority coalition would pass in Parliament. Here's a look at what's happening: Spain's housing affordability crisis Like most rich countries, Spain is in the throes of a growing housing affordability problem. Skyrocketing rents are particularly acute in cities like Barcelona and Madrid, where incomes have failed to keep up, especially for young people. Housing prices are also steadily rising, especially in cities and coastal areas. Rental prices have also been driven up by short-term rentals mainly offered for tourist

Indian real estate sector saw more land deals in 2024 at over 2,200 acres as developers were looking to expand the business, according to CBRE. Real estate consultant CBRE data showed that land deals of more than 2,200 acres last year as against about 1,900 acres in the preceding year. Out of the total land transactions in 2024, around 2,000 acres were located in the eight major cities -- Delhi-NCR, Bengaluru, Mumbai, Chennai, Pune, Hyderabad, Kolkata and Ahmedabad. Nearly 1,200 acres of land are meant for residential projects, around 580 acres for industrial & warehousing parks and 200 acres for data centres. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "The significant growth in land deals across diverse asset classes highlights strong investor confidence in India's real estate market." The residential segment is booming due to rising urbanisation, favourable policies, and increased affordability, he ...

The housing and infrastructure sectors were represented by leaders such as Hiranandani Group, Afcons, L&T, and GMR Group

The expansion of the metro rail network, installation of 84,000 CCTV cameras, development of over 700 km of cycle tracks, and construction of 88 lakh houses in cities were key focus areas for the Union Housing and Urban Affairs Ministry in 2024. Besides, the ministry launched several initiatives under the Smart Cities Mission (SCS), Swachh Bharat Mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) -- flagship programs of the Narendra Modi government. As of November 15, 13 out of 100 smart cities have successfully completed all their projects, while 48 cities have achieved over 90 per cent completion. Over 84,000 CCTV surveillance cameras have been installed, and 713 km of cycle tracks have been developed across the 100 smart cities so far. According to the ministry, 23 smart cities have completed more than 75 per cent of their projects, and 714 ongoing projects, totalling Rs 17,303 crore, are currently in the implementation phase. Recently, Union Ministe

New home sales in India declined for the first time since the pandemic, as a sharp rise in housing prices and elevated borrowing costs ruined buyers' appetite in 2024 and the real estate industry is now eyeing the upcoming Budget for favourable economic conditions -- a key to reviving demand conditions. The de-growth in the Indian housing market came after three straight years of stellar growth, following the COVID-era downturn, and was attributed in part to a high base in the previous year, a fall in supply of new homes and price appreciation. Anuj Puri, Chairman of Anarock, one of the leading housing brokerage firms in the country, termed the year 2024 as a "mixed bag" for the Indian residential market and noted that, while demand for the affordable housing segment was weak, sales and launches of luxury homes remained strong. India's residential real estate market, estimated to be valued at over USD 300 billion, faced a marginal 4 per cent drop in sales volumes during 2024, ...

The Delhi-NCR housing market witnessed a 44 per cent growth in new supply this year to 53,000 units, of which nearly 60 per cent were ultra-luxury homes priced above Rs 2.5 crore each, according to Anarock. The number of new launches of residential properties stood at 36,735 units during 2023. Real estate consultant Anarock has released the data of primary (first sale) housing market for 2024 of India's seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai, Hyderabad, and Kolkata. As per the Anarock data, Delhi-NCR launched 53,000 new housing units in 2024 -- a significant 44 per cent rise over 2023. "Over 59 per cent of the new supply was in the ultra-luxury segment priced more than Rs 2.5 crore," it said. According to the data, housing sales in Delhi-NCR declined 6 per cent to 61,900 units in 2024 from 65,625 units in the preceding year. Overall, these seven cities saw a 7 per cent decline in launches to 4,12,520 during 2024 from 4,45,770 u

India is estimated to have a cumulative affordable housing shortage of 31.2 million units by 2030 with a potential market size of Rs 67 trillion, according to a joint report by CII and Knight Frank. Industry body CII and real estate consultant Knight Frank India on Wednesday released a joint report 'Affordable Housing in India' at a conference here, pointing out that there is already an existing shortage of 10.1 million units. Addressing the event, Ghulam Zia, Senior Executive Director, Research, Advisory, Infrastructure & Valuation at Knight Frank India, pointed out the shortage of affordable housing in India, presenting a huge business opportunity for real estate developers. "The cumulative Affordable housing shortage in India is projected to reach 31.2 million by 2030, with the market size estimated at Rs 67 trillion," he said. The affordable housing segment also could provide a lot of opportunities for financial institutions. "Based on the assumption of a 77 per cent loan ...

The new housing supply during Q3 2024 declined by 19 per cent YoY

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Monday said it has recovered over Rs 200 crore from developers to compensate homebuyers for their losses. The authority also outlined plans to further intensify its recovery efforts. The real estate watchdog said it has issued 1,163 warrants for recovering Rs 705.62 crore across the state and has made developers cough up Rs 200.23 crore from 283 warrants involving 139 real estate projects, as per an official statement. Over Rs 378 crore of the recoveries are due from Mumbai suburban and Pune alone, the statement said, adding that specific efforts are being undertaken to expedite the same like appointing retired Tahsildars (revenue officials) in the offices of the district collectorates in Mumbai suburban and Pune. Of the Rs 200 crore in recoveries, Mumbai city contributed Rs 46.47 crore in recoveries involving 22 warrants in 13 projects, Rs 76.33 crore came from 85 warrants in 42 projects in Mumbai suburban and Rs 39.10

Realty firm Gaurs Group will invest about Rs 750 crore to develop a luxury housing project in Greater Noida to expand its business amid strong demand for residential properties. Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said the company will develop around 250 units in this new housing project. "We will soon be launching a new housing project in Greater Noida. The project will have 12 lakh square feet of developable area," he told PTI. Asked about project cost, Gaur said it will be around Rs 750 crore, including land and construction costs. The company had bought this land located at Jaypee Greens in Greater Noida from banks. Gaurs Group is already developing one project at the same location. Gaur, who is also Chairman of realtors' apex body CREDAI, said the demand in Noida and Greater Noida remains strong, and there is a lack of adequate supply. Last month, Gaurs Group said it would develop a 17-acre commercial project in Noida with an investment of Rs 4,000 cr

Realty firm Signature Global Ltd plans to launch multiple housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years as part of its expansion plan amid strong consumer demand. Signature Global, listed on stock exchanges, is one of the leading real estate firms in the country. It sold properties worth Rs 7,200 crore last fiscal and is targeting to sell Rs 10,000 crore this fiscal. In an interview with PTI, Signature Global Chairman Pradeep Aggarwal noted that housing demand continues to be strong in Gurugram, and the company would keep expanding its presence by launching more projects and acquiring new land parcels. "We have a strong launch pipeline. We are targeting to launch projects worth Rs 50,000 crore over the next three years," he said. The company has already acquired land in Gurugram and adjoining areas to launch multiple projects, Aggarwal noted. "We gave guidance to launch Rs 16,000 crore worth of projects during the current fiscal year. We achieved Rs