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
A total 274 apartments, including seven penthouses and 138 super HIG flats, being offered by the DDA in e-auction mode as part of its new housing scheme, were booked on Friday, officials said. The registration for these flats began on November 30 and the e-auction began on Friday. "In today's e-auction, a total 274 flats were booked, including 129 MIG flats, 138 super HIG flats and seven penthouses," a senior official said. There was "fierce competition" among the bidders during the entire process, signifying "high demand for DDA (Delhi Development Authority) flats," he said. The premium received was as much as 80 per cent in some cases, the DDA official said. The 'Diwali Special Housing Scheme - 2023' entails the disposal of newly built or soon-to-be completed flats through an end-to-end online system. There are 14 penthouses in Dwarka's Sector 19B, 170 super HIGs and 946 HIGs, while Sector 14 and Lok Nayak Puram have 316 and 647 MIGs, respectively, the DDA had earlier said. Th
Godrej Properties Ltd on Tuesday said it has sold more than 600 flats in its new luxury housing project at Gurugram, Haryana. In a regulatory filing, the company said it has "sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram. " The company will develop nearly 750 apartments in this 9.5-acre housing project. The starting price is around Rs 4 crore per unit. Godrej Properties said this is its most successful launch ever in terms of the value of sales achieved, surpassing the previous best of over Rs 2,000 crore at its project Godrej Tropical Isle in Noida last quarter. MD & CEO Gaurav Pandey said, "Gurugram is an extremely important market for Godrej Properties. We hope to launch four new projects in Gurugram in 2024..." Godrej Properties, the real estate arm of Godrej Group, is one of the leading developers in the country. During April-September 2023-24, Godrej Properties achieved 48 per cent ...
The National Commission said instalments are linked to the progress of construction. The question of raising any demand didn't arise when there was no progress in construction
Around 25 per cent of the 5,500 flats on offer as part of an ongoing housing scheme of the Delhi Development Authority (DDA), has been booked since July 10, officials said on Friday. The DDA on June 30 launched on a first-come, first-serve (FCFS) basis a housing scheme that includes 5,500 flats across all categories at various locations in Delhi. More than 650 flats were booked on July 10 itself, soon after the booking window was opened on DDA's website starting at noon. All 50 flats in Dwarka were completely sold out on the first day. Under the scheme, 1-BHK flats are being offered in Narela, Siraspur, Rohini, and Loknayak Puram; 2-BHK flats in Narela and Dwarka; and 3-BHK flats in Jasola. Officials on Friday said, out of these 5,500 flats, over 1,400 have been booked till July 21. These included 670 flats at Rohini and 625 flats at Narela. At the rest of the locations like Jasola (23), Siraspur (14) and Loknayak Puram (33), the encouraging response was coming, the official said,
The demand for ready-to-move-in apartments has doubled in the last six months, with inventory running low in many major markets
DDA housing scheme: Interested buyers will be provided with a 4-5 day-window to see the sample flats at the location
Several builders in Noida have not paid their dues to the development authorities, so they have not been issued OCs and CCs
Services activity, hiring and stable unemployment rate helping consumer confidence, it says
In a good news for the hassled home buyers of Amrapali Group, the Supreme Court on Friday was informed that 11,858 flats will be delivered in 2 to 3 months of which 5, 428 units will be handed over the possession in October. A bench of Chief Justice UU Lalit and Justice Bela M Trivedi was informed by court receiver senior advocate R Venkataramani that in the upcoming festive season next month 5,428 flats which have been completed by the NBCC will be given to the home buyers with electricity and water connection. "We are facing some issues in providing electricity and water connections to the other 6,430 completed flats and once the connections are provided and they receive completion certificates, these units will be handed over to the home buyers in the next two to three months", he said. The bench told Venkataramani that it is an important development that out of over 38,000 flats to be constructed more than 11,000 units are being handed over to the flat buyers and asked him to ..
The Supreme Court warned that the flat buyers of Amrapali Group who are not clearing their dues as per the payment plan should not be in any kind of delusion
Nearly 1.74 lakh homes, worth around Rs 1.4 lakh crore, are completely stalled across seven major cities with Delhi-NCR accounting for maximum 66 per cent, according to property consultant Anarock. In its research, Anarock has taken into account only those housing projects that were launched in 2014 or before. Including both stalled and delayed units, the consultant said the total number reached to 6,28,630 homes worth Rs 5,05,415 crore across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata. Given the huge funding crunch in the construction industry, Anarock said the outlook for people who bought units in completely stalled projects is "disastrous", while the prospects for buyers in heavily delayed projects are "bleak at best". Prashant Thakur, director and head (research) at Anarock, said: "As of H1 2021-end, we have nearly 6.29 lakh units that are yet to be completed across the top-seven cities." Anarock said the overa
Real estate developer Supertech said it will hand over to homebuyers 8,463 flats by December this year and a total of over 16,000 units by 2023 in delayed projects in Noida, Greater Noida and Meerut
The Delhi Development Authority (DDA) on Wednesday allotted 1,353 flats to people under a housing scheme through an online draw of lots, officials said.
The Ministry of Corporate Affairs is gearing up for some crucial amendments to the IBC to provide more rights to individual consumers
Thousands of home owners organise 'yagya' as both firms head for NCLT