This is a 10% rise against the previous survey – H2 2020; just 27% respondents prefer affordable housing vs 36% in the preceding survey After attractive pricing, developer credibility counts highest during property selection; project design, location also key attributes Amid increased health awareness, designated walking trail is the most desired amenity for 72% respondent
Towards the beginning of the pandemic, redevelopment in Mumbai had switched to the slow lane. Lack of capital and construction manpower and a seriously compromised construction materials pipeline were only one side of the problem. Another dampener was the fact that government offices were functioning erratically at best – and redevelopment in city like Mumbai
2019 attained a new peak since 2017 with more than 2.6 lakh units sold in the top 7 cities & 2.37 lakh new units launched; new peak likely by 2023 as housing sales could cross 3.17 lakh units mark 2021 may fare better than 2020, but unlikely to reach the latest peak levels of 2019
According to a very recent UN Intergovernmental Panel on Climate Change report, global warming will increase the planet’s temperatures by as much as 1.5 degrees Celsius in the next 20 years. Indian coastal cities like Mumbai, Chennai, and Kolkata have been put ‘on notice’, but all our cities will be affected to some or the
Major transformation since 2010-2015, when top 15 local players launched close to 2.58 lakh units From 2016 to H1 2021, national-level & corporate players – Godrej Properties Ltd., TATA Housing, Hero Realty, Sobha Ltd, Shapoorji Pallonji Group, Birla Estates – dominated, with Prestige Estates now also foraying into NCR Supply follows demand – major changes
A well-known real estate consultancy recently published a report on heavily delayed and fully stalled residential projects. It paints the kind of gloomy picture which most people tend to associate with Indian real estate these days. Since negativity sells, this report did not mention how many projects by leading developers are actually getting completed on
Given the huge funding crunch in the construction industry, 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. The overall value of the 1.74 lakh homes which are totally stuck across the 7 top cities currently exceeds INR
Another 15% is under pressure but has scope for resolution & certainty on principal recovery Merely USD 18 bn worth loans under ‘severe’ stress that need immediate measures NBFCs & HFCs (including trusteeships) together account for 63% of total loans while banks account for 37% At least 75% of total lending to Grade A developers
~24,570 units sold across top 7 cities amid the 2nd COVID-19 wave in Q2 2021 Vs ~12,740 units sold during 1st wave in Q2 2020; ~58,290 units sold in preceding quarter – Q1 2021 MMR & Pune drive residential sales among top cities, together accounting for 46% of the total housing sales in Q2 2021
Of total housing sales in NCR & MMR (~21,750 units & ~47,140 units respectively) post-COVID-19 (July 2020 – March 2021) period saw 90% sales to end-users in both cities, only 10% of investors Amid pandemic ‘new normal’ (WFH, e-schooling) only 15% of end-users in NCR upgraded to bigger property vs 65% in MMR (MMR avg.
