Page 3 - Anarock

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 .

59% Indians prefer mid, high-range homes despite price rise: Anarock

Mid-range homes, priced between Rs 45 lakh and Rs 90 lakh, are the most preferred

Most homebuyers feel hike in home loan rate will impact purchase: Survey

A significant percentage of prospective homebuyers feel that their purchase decisions will be impacted if interest rate on home loans rises further to cross 9.5 per cent, according to a survey by Anarock. Real estate consultant Anarock's online 'Consumer Sentiment Survey' with a sample size of 5,218, showed that the people would like to buy mid-range and premium homes. More respondents want to buy 3BHK flats. According to the survey, high inflation has impacted disposable incomes of over 66 per cent of respondents. "... Any further home loan rate hikes - particularly if interest rates breach 9.5 per cent - will have a 'high impact' on residential sales, according to 98 per cent survey respondents," Anarock said. The average home loan rate is 9.15 per cent currently, the consultant added. In the last one and half years, the mortgage rate has hardened by around 250 basis points, with the RBI raising the key policy rate to control inflation. Among other findings of the survey, Anaro

86% housing projects launched between Jul 2017-Dec 2018 completed: Anarock

It was driven by tighter regulations under the realty law Real Estate (Regulation and Development) Act, 2016

At least 59 land deals totalling 2,018 acres closed so far this yr: Anarock

At least 59 land deals have been struck involving 2,018 acres so far this year across the country for the development of real estate projects and industrial purposes, according to Anarock. Real estate consultant Anarock noted that the number of land deals has gone up post Covid pandemic as real estate developers look to expand their business to tap a rise in demand for residential and commercial properties. Land parcels have also been purchased for setting up manufacturing units and hospitals. "Our latest research indicates that as many as 59 separate land deals for over 2,018 acres have been closed across the country between January to August 2023," Anuj Puri, Chairman of Anarock, said. In the corresponding period last year, he said about 50 land deals for 1,438-plus acres were closed across various cities. Puri noted that so far this year very few of these deals were for large land parcels. "The three largest were in Ahmedabad, for approx 740 acres, and one deal each in Ludhian

Luxury homes see highest average price appreciation since 2018: Anarock

Hyderabad recorded the highest jump of 42 per cent in the average price of luxury homes between 2018 and the first six months of 2023

Sale of homes costing below Rs 40 lakh dip 18% in 7 cities in Jan-Jun

Sales in the affordable housing category -- priced below Rs 40 lakh -- declined 18 per cent to 46,650 units in the January-June period across seven major cities amid lower supply and a rise in mortgage rates, according to Anarock. Sales of affordable homes stood at 57,060 units in the corresponding period of the previous year. Real estate consultant Anarock's report showed that the share of affordable housing in the overall housing sales fell to 20 per cent in January-June from 31 per cent in the corresponding period of the previous year. The total housing sales increased to 2,28,860 units during January-June this year from 1,84,000 units in the year-ago period. Anarock Chairman Anuj Puri attributed the shrinking share of affordable homes in the overall sales to changes in demand dynamics induced by the COVID pandemic and several other challenges faced by developers as well as consumers. Stating that the land cost has gone up significantly, Puri said, "It is becoming increasingly

Unsold housing stock drops 21% in Delhi NCR in April-June quarter: Anarock

It is the steepest drop of available stock among the top seven cities in India

Mumbai, Pune to push housing sales to all-time high this quarter: Anarock

Earlier, the peak was reached in the quarter that ended on March 31 this year with a sale of 113,780 units

Unsold inventory of homes priced above Rs 2.5 cr down, says Anarock

The number of unsold luxury homes fell the sharpest, 24%, in the Mumbai Metropolitan region

Average apartment size rises 5% annually in Jan-Mar 2023: Anarock

Real estate developers are building bigger apartments to meet consumer demand, with the average size of flats launched in January-March this year rising 5 per cent annually across seven cities, according to property consultant Anarock. As per the data, the average size of flats across seven major cities rose to 1,225 square feet in January-March this year from 1,170 square feet in the year-ago period. Among seven cities, Delhi-NCR saw average flat size rising 50 per cent to 1,700 square feet in the first quarter of 2023 from 1,130 square feet in January-March last year. Developers in Delhi-NCR are closely tracking demand and launching bigger homes in this region, Anarock noted. Kolkata saw flat sizes increase by 44 per cent to 1,150 sq ft in Q1 2023 from 800 sq ft in the year-ago period. The average flat size in Hyderabad rose 29 per cent to 2,200 sq ft in January-March from 1,700 sq ft in Q1 of 2022. Pune witnessed a 16 per cent yearly increase to 1,013 square feet in Q1 2023 f

Housing sales clocked a record of Rs 3.47 trillion in FY23: Anarock

The Mumbai Metropolitan Region (MMR) saw the highest market share in terms of both value and volume in FY23

New projects account for 41% housing sales in Q1CY23 in top 7 mkts: Anarock

Share of newly launched homes was much lower in the same period of CY19, with just 26% homes sold in new projects out of about 78,520 units

Assess your affordability before purchasing amid housing market buoyancy

People in sectors witnessing layoffs should be especially cautious

Realty firms may complete nearly 558,000 homes in 2023 across top 7 cities

Real estate developers are expected to complete nearly 5.58 lakh homes this year across seven major cities as builders focus on accelerating the pace of construction activities, according to Anarock. Real estate consultant Anarock's data suggests that 5,57,900 homes are scheduled for completion during 2023. In the 2022 calendar year, 4,02,000 units were scheduled to be completed. The consultant did not mention whether builders were able to meet their 2022 target or not. Anarock said that the number of homes to be completed is higher because of several factors including realty law RERA, better cash flow amid rise in housing sales, use of latest technologies in construction activities and also increased funding from financial institutions. The developers are trying to avoid delay in completion of projects as it leads to cost overrun, the consultant added. Anarock Vice Chairman Santhosh Kumar said, "As per scheduled completion records, approx. 5.6 lakh homes are likely to be deliver