India and the rest of the world came to a literal standstill with Covid-19 in 2020, and the brief recovery thereafter was followed by the Russia-Ukraine war – which has negatively reset the whole world’s economic barometer. Next came the bursting of a tech boom bubble created by the Covid-19 pandemic, with mass layoffs at
Affordable housing is about providing decent homes at low prices that are within reach of lower- and lower-middle-income buyers. There are many definitions of affordable housing, but the government defines it as homes with a carpet area of up to 60 square meters. A house must cost no more than Rs. 45 lakh to be
Mumbai, 30 January 2023: India’s residential real estate sector looks hopefully to Budget 2023-24 to boost the country’s flagging affordable housing segment. The segment had revived after the government began to roll out incentives from 2015 and became ‘respectable’ with both buyers and developers. However, the pandemic seriously impacted the affordable housing segment, with both demand
It is an established fact that the real estate industry is the heart that drives a country’s economic progress. A relatively new fact is that affordable housing is the oxygen that can keep the sector running. As suggested in the name, affordable housing generally refers to housing that is deemed reasonably priced for those with a household
Approx. 25,680 luxury homes (units priced >1.5 Cr) were sold across the top 7 Indian cities in H1 2022, against 17,740 units in 2019; in H1 2022 itself, sales exceed those in entire 2019 MMR saw the highest luxury home sales – over 13,670 units sold in H1 2022, followed by NCR with 4,160 units
What comes to mind when we speak of inflation and its impact on real estate especially on housing demand? Real estate is not a commodity like rice or petrol, which immediately reacts to inflationary trends. Yet, it is an accepted fact that inflation negatively impacts property prices. Most people imagine inflation and its effect on
As of Q1 2022-end, the total available stock of affordable housing (<INR 40 lakh) in the top 7 cities is approx. 1,86,150 units; 2,34,600 units at Q1 2020-end Chennai, Pune & MMR saw the highest supply decline of 52%, 33% & 27%, respectively Supply of ultra-luxury homes (>INR 2.5 Cr) declined 5% in the same
The housing market has experienced one shock after the other in quick succession. In Maharashtra, the added 1% metro cess and disproportionate rise in ready reckoner rates come at a time when developers are left with no option but to increase their property prices because of the steep increase in construction and other input costs.
Price rise of <10% will have a moderate-to-low impact on sales; price rise of >10% would have a high impact Newly launched properties gaining traction in MMR & Bengaluru with over 31% respondent buyers favouring this category Residential plots are the 2nd best property type in the top 7 cities, most preferred option in tier
Of 36,260 units launched in Q2 2021 in the top 7 cities, the premium segment (priced b/w INR 80 lakh to INR 1.5 Cr) had the highest share (approx. 13,130 units); mid-segment (INR 40-80 lakh) had a 32% share (nearly 11,760 units) Hyderabad, Bengaluru & Chennai together comprised a 72% share of total new premium
