Anarock

Housing supply up 44% in Delhi-NCR this year to 53,000 units: Anarock

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

Housing sales, supply skid in India's top 7 cities in 2024: Report

Housing sales are estimated to fall 4 per cent this year in seven major cities to nearly 4.6 lakh units on lower launches, while sales in value terms are up 16 per cent to Rs 5.68 lakh crore, according to Anarock. Average housing prices grew 21 per cent this year across the seven major cities on rising rates of land, labour and some building raw materials. Anarock, which is one of the leading housing brokerage firms in India, attributed the fall in sales volumes during 2024 to a drop in new launches of housing projects because of a delay in regulatory approvals amid general and assembly elections. Nevertheless, the appreciation in housing prices helped sales to grow in value terms during this year. Real estate consultant Anarock on Thursday released its housing market data, showing a marginal 4 per cent drop in sales across the 7 major cities to 4,59,650 units during 2024 against 4,76,530 units in 2023. However, the overall sales value of housing units saw a 16 per cent annual

Office market buoyant, premium workspaces under-construction: Anarock

With rising demand of premium workspaces, real estate consultant Anarock has said that realty firms are currently developing around 250 lakh square feet of office space across major cities for catering to the requirements of domestic and foreign companies. Homegrown Anarock entered into office leasing segment in April this year, expanding its business from housing brokerage, capital market transactions, and leasing of retail as well as industrial & warehousing spaces, among others. In an interview with PTI, Peush Jain, Managing Director, Commercial Leasing and Advisory, Anarock, highlighted that the year 2024 has been extremely good for Indian office market with record gross leasing activities and drop in vacancy rates. He expressed confidence that the demand momentum would continue next year. "The office market has shown strong recovery and consolidation post-pandemic," said Jain, who has more than 20 years of experience in the real estate sector. Jain noted that Global ...

Developers plan record 253 mn sq ft housing supply amid robust demand

Notably, only 23 per cent of the planned supply (about 57.15 million square feet) was launched in the first half of FY2025

Anarock FY25 revenue may rise 40% on strong housing demand: Chairman Puri

Real estate consultant Anarock Group is targeting over 40 per cent increase in revenue this fiscal year to Rs 800 crore mainly on the back of strong housing demand fuelled by high economic growth, its Chairman Anuj Puri said on Sunday. Mumbai-headquartered Anarock had posted a 36 per cent increase in revenue to Rs 566 crore in the last fiscal year. Homegrown Anarock was established by Anuj Puri in April 2017 after serving as country head for 10 years in an international property consultancy firm. In an interview with PTI, Puri said the company is likely to achieve a revenue of Rs 800 crore in the current fiscal year. Of the total revenue, Puri said about Rs 575 crore will come from housing brokerage services. Puri said the remaining revenue will come from land deals, capital market transactions, strategic consulting and project management besides leasing activities in office retail, data centre, and warehousing segments. Asked about the reasons for growth, he said the overall Ind

Pvt equity investment in real estate down 4% to $2.3 bn in Apr-Sep: Anarock

Private equity investments in the Indian real estate sector declined 4 per cent to USD 2.3 billion in the first half of this fiscal year due to lower inflow in office assets, according to Anarock. Real estate consultant Anarock noted that the total number of deals declined to 17 in April-September this year from 24 in the corresponding period of the preceding year. Shobhit Agarwal, MD & CEO of ANAROCK Capital, said, "Private equity investments in offices are primarily driven by foreign investors, which have tapered down due to global factors such as geopolitical tensions and elevated interest rates." However, he added that the aggregate numbers and the dominance of foreign investors in the Indian real estate remained largely stable due to the ADIA/KKR investment in the Reliance Retail warehousing assets. Private equity investments stood at USD 1.2 billion in the first half of 2020-21 fiscal; USD 2 billion in H1 2021-22; USD 2.8 billion in H1 2022-23; USD 2.4 billion in ...

Housing prices in Delhi-NCR, Bengaluru jump 29% in July-Sept: Anarock

Housing prices in Delhi-NCR and Bengaluru appreciated 29 per cent year-on-year in the July-September quarter on strong demand, high input cost and an increase in the supply of luxury homes, according to Anarock. Real estate consultant Anarock's data showed that the average prices of residential properties in Delhi-NCR increased 29 per cent to Rs 7,200 per square feet in the July-September quarter from Rs 5,570 per square feet in the year-ago period. In Bengaluru, the prices grew 29 per cent to Rs 8,100 per square feet in the third quarter of this calendar year from Rs 6,275 per square feet in the corresponding period of the previous year. Hyderabad saw the maximum 32 per cent rise in prices to Rs 7,150 from Rs 5,400 per square feet. The average Housing prices in the Mumbai Metropolitan Region (MMR) rose 24 per cent to Rs 16,300 from Rs 13,150 per square feet. Pune witnessed a 16 per cent increase in prices to Rs 7,600 from Rs 6,550 per square feet, while Chennai saw a 16 per cent

Housing sales dip 11% in third quarter of CY24 in top 7 cities: Report

Market stabilising and 'demand-supply equation robust', says property consulting company ANAROCK

Housing sales down 11% in Jul-Sept, avg prices up 23% in 7 cities: Anarock

Housing sales fell 11 per cent during July-September to 1.07 lakh units in seven major cities on lower launches and an annual 23 per cent growth in average prices, according to Anarock. Real estate consultant Anarock on Thursday released data that showed an 11 per cent fall in sales of residential properties in July-September to 1,07,060 units from 1,20,290 units in the year-ago period. Anarock Chairman Anuj Puri said, "All the top cities individually recorded a dip in housing sales." The top 7 cities witnessed a drop of 19 per cent in new housing supply, with 93,750 units launched in July-September 2024 against 1,16,220 units in the corresponding period in 2023. "Nevertheless, the fact that sales remained higher than launches indicates that the demand-supply equation remains robust," Puri said. He pointed out that housing sales in the third quarter tapered down amid high prices and the monsoon season. "As always in this period, the 'shraad' period also suppressed demand to an ex

89% of all ultra-luxury homes sold since 2022 were in Mumbai alone: Anarock

In 2022, 13 ultra-luxury homes were sold, with 11 of them in Mumbai and two in Delhi NCR

Indian cities see 45% residential price hike in last 5 years: Anarock

Bagaluru, a locality in Bengaluru Urban district, recorded the highest price appreciation of 90 per cent between 2019 and the first half of 2024

Builders cut project completion time by 20% in top 7 cities: Anarock

Real estate developers across seven major cities are taking an average 18-20 per cent less time to complete a project because of tight regulations and the use of latest construction technologies, according to Anarock. Real estate consultant Anarock data analysed all projects that were launched and completed between 2010-2019 and 2014-H1 2024 across the top seven cities. In the last decade, the average time taken to complete smaller projects of less than 500 units across these seven cities was four years, while builders took 4.9 years to complete large projects of more than 500 units each. During 2010-19 period, the average time taken by builders was 4.9 years for small projects and 6.1 years for larger ones. So, the average completion time across seven major cities has fallen by 18 per cent in small projects and 20 per cent in large projects during the period under review. "The stringent rules imposed on project delays by the regulatory authorities have also been a key factor in .

Avg housing prices jumps nearly 50% in Delhi-NCR, Mumbai in 5 yrs: Anarock

Average housing prices in Delhi-NCR and Mumbai Metropolitan Region (MMR) have risen by nearly 50 per cent in the last five years, driven by higher demand, according to Anarock. Real estate consultant Anarock's data shows that the average rate of residential properties in Delhi-NCR has risen by 49 per cent to Rs 6,800 per square foot in January-June 2024 from Rs 4,565 per square foot in the same period of the 2019 calendar year. Similarly, in the MMR, the average housing prices grew 48 per cent to Rs 15,650 per square feet from Rs 10,610 per square feet during the period under review. Anarock has attributed the rise in prices to steep hikes in construction costs and healthy sales. Prices in both regions had maintained the status quo from late 2016 to 2019, it pointed out. "The COVID-19 pandemic was a boon for these two residential markets, causing demand to soar to new heights. Initially, developers induced sales with offers and freebies, but with demand heading north, they gradual

Home sales in India cool down after two years on high base, rising prices

Home prices in major cities increased 7% in April-June compared to quarter before, according to Anarock data

Rents in India have increased by up to 64% in last five years: Report

Housing supply slowed down rent growth in major cities in first quarter of FY24, says real estate consultancy Anarock

Real estate 'popular hedge' against inflation in last two years: Report

Investors can leverage real estate assets to borrow funds for further real estate acquisitions, says Anarock

Mumbai's vertical growth: City to see 34% more skyscrapers in next 6 years

The development of high-rises often helps in decongesting the city. Moreover, these amenities and residences are in a single vertical space

Anarock FY24 revenue surges 36% to Rs 566 crore on higher earnings

Real estate consultant Anarock Group has posted a 36 per cent increase in its revenue to Rs 566 crore in the last fiscal, helped by better earnings from housing brokerage and other services. During 2022-23, the company posted a revenue of Rs 416 crore. Homegrown Anarock was established by Anuj Puri in April 2017 after serving as country head for 10 years in an international property consultancy firm. In an interview with PTI, Anarock Chairman Puri said, "Real estate markets, particularly residential, across cities, are doing well with sales and launches at a 15-year high." Inherently, he said, this is being driven by a younger working population wanting to buy their first home rather than rent it. "...we are benefiting from this phenomenal growth in housing sales, having established our tech and digital platform," Puri said. All major business verticals contributed to the revenue growth last fiscal, he said. These include housing brokerage, retail, land, capital markets, strateg

Luxury homes' share in total sales nears affordable for first time: Report

Demand for luxury units has consistently increased in the last five years

Land deals on upswing; 721 acres closed in Jan-Mar: Anarock report

Builders and other entities have closed at least 29 land deals involving 721 acres during January-March this year to expand their businesses amid surge in demand especially for housing, according to Anarock. During the entire 2023-24 fiscal, property consultant Anarock said that real estate developers and other entities have closed 101 land deals, cumulatively accounting for 2,989 acres. Land deals in terms of acres have increased 61 per cent annually in January-March 2024 and 58 per cent annually in 2023-24. At least 26 land deals for around 449 acres were closed during January-March 2023, while 88 land deals for 1,886 acres were struck during the full 2022-23 fiscal. These land deals, which were struck across major tier I, tier II and tier III cities, include outright purchase-sale transactions and also partnerships with landlords called Joint Development Agreements (JDAs). Anarock Chairman Anuj Puri said, "Out of the total land deals in 2023-24, over 83 deals for about 1,135 ac