Page 2 - Housing Inflation

Housing sales in Gurugram down 12% during Jan-Mar; up 19% in Noida: Report

Housing sales in Gurugram fell 12 per cent year-on-year in January-March, while the demand for residential properties increased in Noida by 19 per cent, according to Anarock. Real estate consultant Anarock's data showed that housing sales in Gurugram's primary market (first sale) declined 12 per cent to 8,550 units in the January-March period this year from 9,750 units in the year-ago period. In contrast, Noida saw a 19 per cent increase in housing sales to 1,600 units during January-March this year from 1,350 units in the corresponding period of the previous year. Commenting on the trend, Anarock Vice Chairman Santhosh Kumar said, "The demand continues to be strong in Gurugram. Still, sales dipped in the IT city due to a fall in new supply. Many builders did not get approvals to launch projects". There would be more launches of housing projects in Gurugram after the Lok Sabha election, he added. As per the data, housing sales in Greater Noida declined by 19 per cent to 2,350 unit

Indian govt bond yield at more than two-week high as US peers jump

The rise in yields is fuelled by indications of a robust economy and elevated inflationary pressures

Despite high prices, more Indians want to buy a 3 BHK home: FICCI-Anarock

This is despite the fact that 55% of Indians believe their disposable income had been 'majorly' impacted by inflation

Dollar eases as market shrugs off rise in US monthly consumer prices

The dollar index fell 0.07% to 104.04, while the euro was up 0.08% to $1.0785

People worried about unemployment but BJP busy diverting attention: Cong

Hitting out at the Centre, the Congress on Saturday claimed that every second person in India is worried about "increasing inflation, economic recession, unemployment and conflicts" but the Modi government is busy "diverting" the attention of the country. Congress general secretary Jairam Ramesh shared a media report on X which claimed that in the last one year, the price of vegetables has increased by 15 to 60 per cent. In his post in Hindi, Ramesh said, "Under the 'mehngaai kaal' of 'ahankaracharya', one in three Indians is worried about losing his or her job this year, while 57 per cent are worried about inflation." He added, "every second person in India is suffering under 'anyay kaal' and worried due to increase in inflation, economic recession, unemployment and conflicts, but the Modi government is busy diverting the attention of the country in its familiar style." But the Congress will continue its struggle to give justice to the people, he asserted. The Bharat Jodo Nyaya Y

Global stock index edges up, dollar falls after US inflation reading

The MSCI world equity index, which tracks shares in 49 nations, gained 0.12%, after earlier hitting its highest level in almost two years

Global investments in Indian real estate sector dip due to high inflation

India's real estate market has been an attractive destination for global investors, particularly from the US, since 2006

Budget 2024: Govt may hike housing subsidy ahead of Lok Sabha polls

Interim Budget 2024: The govt estimates reveal a significant housing shortage of over 20 mn homes in rural areas. While the same for urban areas stands at 1.5 mn homes, according to industry experts

Puravankara Q3 sale bookings rise 56% to Rs 1,241 cr on higher volumes

Realty firm Puravankara Ltd on Wednesday reported a 56 per cent annual increase in its sale bookings at Rs 1,241 crore in the third quarter of this fiscal on higher volumes amid strong housing demand. Its sale bookings stood at Rs 796 crore in the year-ago period. According to a regulatory filing, the company's sale bookings rose 60 per cent area-wise to 1.63 million square feet during October-December period from 1.02 million sq ft in the corresponding period of the previous year. The average sales realisation declined 2 per cent to Rs 7,610 per sq ft during the period under review from Rs 7,767 per sq ft a year ago. During April-December period of 2023-24 fiscal, the company's sale bookings rose 89 per cent to Rs 3,967 crore from Rs 2,100 crore in the year-ago period. In area terms, the sale bookings rose 80 per cent to 5.01 million sq ft in the first nine months of this fiscal from 2.79 million sq ft in the year-ago period. The average sales realisation grew 5 per cent to Rs 7

Unsold homes in Delhi-NCR fall 23% to 94,803 units at 2023-end: Anarock

Unsold housing stock in Delhi-NCR at the end of last year has fallen 23 per cent from 2022-end level driven by high velocity of sales and restricted new supply of residential properties, according to Anarock. Real estate consultant Anarock data showed that number of unsold units in Delhi-NCR fell to 94,803 units at the end of last year from 1,23,692 units in 2022-end. Delhi-NCR's unsold stock is currently at a decadal low, dropping below one lakh units for the first time in the last 10 years, the consultant pointed out. Anarock Vice Chairman Santhosh Kumar attributed the fall in unsold housing stock to higher sales transactions compared with new launches during the last calendar year. In 2023, housing sales in Delhi-NCR stood at 65,625 units while new supply in the region was 36,735 units, he said. "Developers continue to consciously restrict new supply in the region so that they can remain focused on project completions and thus reduce their previous unsold stock," Kumar said. T

Housing sales in Gurugram up 13% in 2023; down 7-8% in Noida: Anarock

Housing sales in Gurugram rose by 13 per cent annually in 2023 on high demand, especially for luxury flats, but Noida and Greater Noida saw a 7-8 per cent fall, according to Anarock data on the Delhi NCR market. Real estate consultant Anarock's data showed that sales of residential properties in Gurugram went up 13 per cent to 36,970 in 2023 from 32,615 units in the previous year. However, sales in Noida fell 8 per cent to 5,840 units from 6,360 units. Greater Noida saw a 7 per cent drop in sales to 10,180 units from 10,985 units. Ghaziabad, too, witnessed a fall of 8 per cent to 6,340 units from 6,890 units. The total housing sales in Faridabad, Delhi and Bhiwadi decreased to 6,295 units during 2023 from 6,860 units in the previous year. Overall, the Delhi-NCR saw only a marginal growth of 3 per cent in housing sales to 65,625 units during 2023 from 63,710 units in the previous year. Anarock Group Regional Director & Head of Research Prashant Thakur said, "Apart from Gurugram, ..

Residential realty momentum in 2023 strongest in decade as demand picked up

Latest Anarock Research data indicates that housing sales in the top seven cities have created a new peak in 2023, an all-time high

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

India's housing market to continue with high demand, growth in 2024

India's housing market defied logic this year to register all-time high sales as home buyers snapped up deals despite a jump in asking prices and the highest interest rates in six years. Market experts strongly believe the demand will not only sustain in 2024 but rise further, albeit at a slower pace, on high economic growth and expectations of a fall in home loan interest rate. The real estate industry saw record sales of residential properties in terms of both volumes and value, real estate market data showed as consumers are increasingly buying into the idea of home ownership post-Covid pandemic. The ouster of dubious developers from the real estate market thanks to greater regulatory oversight via RERA helped boost confidence among home buyers. The insolvency law too has played a role in elimination of defaulting builders. According to real estate consultant Anarock, housing sales are estimated to rise by 30 per cent this year to a record 4.74 lakh units in primary (fresh sales

US consumer confidence rises to five-month high, home sales eke out gains

Though consumers continued to worry about inflation, many were planning to buy motor vehicles, houses and major appliances like refrigerators and clothes dryers over the next six months

US economy still strong as retail sales beat expectations, layoffs stay low

Retail sales increased 4.1% year-on-year in November. Though the pace has slowed as households adjust to higher borrowing costs and prices, it remains sufficient to ward off a recession

US consumer spending slows in October, weekly jobless claims rise slightly

Fears that the economy could slide into recession in early 2024 could see households reluctant to spend and instead build their savings

Sale of new US single-family homes falls more than expected in October

New home sales dropped 5.6% to a seasonally adjusted annual rate of 679,000 units last month, the Commerce Department said on Monday

Sales of apartments in Jan-Sep rise 21% to 196,227 units: JLL report

Sales of apartments during the January-September period went up 21 per cent year-on-year to 1,96,227 units across seven major cities on better demand, according to property consultant JLL India. As many as 1,61,575 units were sold in the same period last year. Sales of apartments in January-September period of this year have already touched 91 per cent of 2022 annual sales. "With the onset of the festive season, robust sales are expected in the upcoming quarter and as a result, annual sales in 2023 are expected to surpass sales of 215,000 units recorded in the previous year," JLL India said in a statement on Monday. Across seven major cities, new launches of apartments also rose 21 per cent to 2,23,905 units during the first nine months of 2023 from 1,84,317 units in the year-ago period. The seven cities tracked were Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai. JLL said the data incl

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

Experts have said that RBI is likely to keep the repo rate unchanged at 6.5 per cent in view of elevated inflation and other global factors