Page 2 - Anarock

Anarock raises Rs 200 cr from 360 One Asset Management for biz expansion

The funding aims to enhance Anarock's technology infrastructure, accelerate its expansion, and introduce innovations to strengthen its leadership in the Indian real estate services sector

Avg flat size expands 11% in 2023, demand rises for bigger homes: Anarock

Builders are constructing bigger homes to meet consumers' demand as the average size of flats rose 11 per cent last year across seven major cities, according to Anarock. Real estate consultant Anarock has analysed the fresh supply of housing units during 2023 across the primary residential market of seven major cities. The data showed that average flat sizes in the top 7 cities rose to 1,300 square feet last year from 1,175 square feet in 2022. In the Mumbai Metropolitan Region (MMR) and Kolkata, the average size of apartments fell, but it grew in Delhi-NCR, Bengaluru, Hyderabad, Pune and Chennai in 2023. The average size stood at 1,050 square feet in 2019, 1,167 sq ft in 2020, and 1,170 sq ft in 2021. "Northbound housing prices in the top cities have in no way dispelled the demand for generous living spaces," Anarock Chairman Anuj Puri said. The supply of bigger luxury homes increased significantly last year, he said, adding that around 23 per cent of the total new launches were

Home truths: Luxury real estate looks set to retain its sheen this year

Stamp duty cuts, reduced circle rates, changing demographics propel high-end homes to new heights

Realty reality: Will luxury housing in India lose its sheen in 2024?

Luxury housing in India witnessed a record-breaking year in 2023 as the sales of such homes touched an all-time high. Now, is the demand for these costlier homes likely to continue in 2024 as well?

Anarock revenue may rise 30% to Rs 575 cr in FY24 on strong housing demand

Property consultant Anarock is expecting a 30 per cent growth in its revenue this fiscal year to around Rs 575 crore mainly driven by strong housing sales, its Chairman Anuj Puri said. Anarock, one of the leading real estate consultancy firms in India, was established by Puri in April 2017. "Our revenue will easily cross Rs 550 crore this financial year and may touch Rs 575 crore," Puri told PTI. Out of the total estimated revenue in 2023-24 fiscal, he said around Rs 400 crore will come from sales of residential properties on behalf of builders. Puri said residential sales in primary market (first sale) touched an all-time high in 2023 calendar year. The demand remains strong across all price points. "We expect demand to sustain in 2024 and beyond," he said, but cautioned that sales would be hit in case of abnormal price rise. Puri said the company also expects significant revenue from consultancy services in non-residential segments like leasing of retail and warehousing spaces

Real estate players deploy AI, plug into AR and VR tech to boost sales

"Anarock used its AI/ML proptech solution ASTRA to boost primary housing sales by up to 15 per cent," says Anuj Puri, chairman, Anarock group

Mixed-use real estate projects expand as buyers seek integrated lifestyle

Such properties have residential, commercial facilities and are near education and healthcare institutes

Improved affordability pushes home sales in India to a new peak in 2023

In 2024, experts suggest that home affordability, as well as sales, are expected to improve further on the back of cooling inflation and the likelihood of lower interest rates

Housing sales up 31% in 2023, 476,530 units sold in top 7 cities: Anarock

Housing sales rose 31 per cent this year to nearly 4.77 lakh units -- an all-time high -- across seven major cities, despite price appreciation by an average 15 per cent, and higher mortgage rate, according to Anarock. Real estate consultant Anarock on Thursday released the annual data of seven major primary housing market, showing that housing sales increased to 4,76,530 units this calendar year from 3,64,870 units in 2022. Anarock Chairman Anuj Puri said, "2023 has been phenomenal for the Indian housing sector, despite global headwinds, rising domestic property prices, and interest rate hikes over the first half this year." Housing sales in the top 7 cities breached the previous high of 2022, and new launches stayed in step with the current housing demand, he added. Puri said it was widely expected that rising property prices and interest rates, along with global market uncertainties, would impact residential sales, but high demand sustained. As per the data, Mumbai Metropolitan

Housing sales value to top 38%, cross Rs 4.5 trillion in 2023: Report

Sales value in nine months of 2023 exceeds that recorded in the whole of last year: Anarock Group

With retail demand and investor interest up, India set to get bigger malls

High interest from investors, along with comfortable balance sheets, is expected to keep credit risk profiles of mall owners stable, says Crisil

Infra push: IT hubs lead surge in price of residential real estate

Hyderabad's Gachibowli logs highest rise in avg prices between Oct 2020 and now

IT hubs push home rent in India up 30% in first 9 months of 2023: Anarock

The highest jump in home rent of 31% was recorded in the Whitefield region in Bengaluru

Realtors gear up for firecracker Diwali, offers slew of attractive schemes

Flexi payment plans, iPads, and Amazon vouchers on offer for festival buyers

Festive season: Residential real estate sector witnesses robust demand

The festive season provides the one last thrust to residential real estate activity in India, according to Colliers India

Luxury home sales costing above Rs 1.5 cr in Delhi-NCR jump 2-fold: Anarock

Delhi-NCR has witnessed over two-fold jump in sales of luxury homes priced above Rs 1.5 crore to 13,630 units in January-September this year on better demand and supply, according to Anarock. Real estate consultant Anarock's data showed that 6,210 luxury homes were sold during January-September last year. The trend was more or less similar across seven major cities tracked by Anarock. Sales of luxury residential properties jumped more than two times to 84,400 units across seven major cities during January-September this year from 39,300 units in the corresponding period of the last year. Anarock Chairman Anuj Puri said the luxury housing segment has been growing rapidly on demand surge after the COVID pandemic. The supply in this segment too has improved. Post-COVID, the concept of home ownership has strengthened. People are also upgrading to better and bigger homes. As per the Anarock data, Hyderabad saw over three-fold surge in sales of luxury homes to 13,630 units during ...

Caution investors: Excess supply of properties could erode returns

The COVID pandemic sparked the desire among people to upgrade their homes both in terms of size and facilities

Amid lower demand, new supply of affordable homes dipping in India: Anarock

On the other hand, the supply of luxury homes is rising as developers are focusing on earning higher margins and profits

India recorded all-time high sales of homes between July and Sep: Anarock

The rise in demand is notable given that the average home prices in the top seven Indian cities saw a double-digit yearly growth of 11 per cent in the quarter

Housing sales up 36% in top 7 cities to record 120,280 units: Anarock

Housing sales rose 36 per cent year-on-year to a record 1,20,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, real estate consultant Anarock said average housing prices across the seven cities grew 11 per cent annually in the July-September period this year. Hyderabad saw the highest rise of 18 per cent. Anarock highlighted that quarterly sales in July-September touched an all-time high. In housing data, sales of apartments, villas and independent floors are included while plots are excluded. Anarock Chairman Anuj Puri highlighted that Mumbai Metropolitan Region (MMR) and Pune contributed 51 per cent of the total sales. Puri noted that the continued healthy sales momentum is at least partially attributable to the repo rate pause maintained by the Reserve Bank of India in the two recent .