Severely impacted by Covid-19, Indian cities in 2020 saw the addition of just five new malls spanning ~2.75 mn sft area. Among the cities that added the new mall supply are Gurugram, Delhi, Lucknow, and Bengaluru. The supply is far less than the previously predicted numbers. “Before the Covid-19-catalyzed lockdown in March, our research indicated
The country will spend $500 billion (Rs 37 trillion) a year by 2030 to accommodate its rapidly expanding population, according to the latest report by the international construction and consultancy firm Mace. The report, ‘A Blueprint for Modern Infrastructure Delivery’ states that since the global Covid-19 pandemic took hold at the start of 2020, infrastructure
Previous year trends suggest that housing sales across top cities in the festive quarter (Oct-Dec) mostly saw an uptick – anywhere between 5-10% – over the preceding quarter. This is largely because the festive season is considered most auspicious for property buying in India and developers also roll out various schemes and offers to fuel
Amidst several Covid-19-induced changes within the Indian real estate, many developers are now mulling the viability of incorporating coworking spaces in their residential projects to align with the new work-from-home (WFH) realities. There are at least two possibilities – retrofitting co-working spaces into existing clubhouses, and incorporating such a feature at the very design stage
Covid-19 may reshape the future of the senior living segment in the country, with demand for such homes set to zoom up amid the present uncertainties. There is only a limited supply in this segment, via 55 projects by the top 12 players in this segment – 60% in tier-II cities and the remaining 40%
Homebuyers seeking ready-to-move-in properties in the ongoing festive quarter are spoilt for choice, as nearly 81,300 unsold homes are available across the top seven cities in the category, according to property consultant Anarock. As on Q3 2019 end, approximately 6.56 lakh units were lying unsold across these cities and out of this nearly 12% are
Anuj Puri As India embarks on another year of independence, the country’s real estate sector has a lot to be grateful for, a lot to hope for – and still a lot to worry about. Amidst the dual challenges of liquidity crisis and stuck projects that hang like persistent thunderclouds over the sector, we nevertheless
Shajai Jacob In a recent move, the National Housing Board (NHB) has directed Housing Finance Companies (HFCs) in India to ‘desist from offering’ loans for financing subvention schemes offered by developers. Loan disbursements will now have to be strictly linked to construction progress. While this will doubtlessly result in an added financial on developers who
Santhosh Kumar An integral part of Indian residential real estate’s coming-of-age process is the rise of *branded developers, who are outpacing their non-branded competition in overall housing launches. Reformatory changes led by demonetization and RERA have spearheaded this movement. ANAROCK research indicates that out of the total new supply in H1 2019 – approx. 1,39,480
Anuj Puri The Supreme Court’s landmark decree on Amrapali Developers has rekindled the hopes lakhs of homebuyers across cities who have waited futilely for delivery of their homes. While similar developments with regards to other stuck projects are awaited, SC has now set a precedent with a resounding message – comply or perish. ANAROCK research
Shajai Jacob The Indian luxury property market may not have been very attractive to the resident Indians in the recent past – but it scores high with the NRIs due to their greater buying power. Multiple factors draw the attention of NRIs towards luxury housing segment. For one, it promises a high standard of living
Anuj Puri India’s housing policies have so far largely focused on building more homes and on homeownership, and little has been done to promote rental housing. This is a serious lacuna, since rental housing, by itself, can help narrow the Indian housing shortage to quite an extent. As a result, to fulfil its promise of
Fresh and wholesome meals, wi-fi, housekeeping and laundry services, app-enabled living in an air-conditioned environment. Welcome to the world of purpose-built student accommodation (PBSA), or housing specifically built for students. An alternative to ubiquitous hostels and paying guest (PG) accommodation, student housing offers an environment and services that align with the needs of today’s students.
The co-living space is on the cusp of becoming a rage among millennials in the metros of India. More than 70% of the millennials – between 18 and 23 years of age – are willing to consider co-living as an option, as they move to new cities and look for easy access and reasonably-priced rental
The GST rates cut is intended to give a boost to the real estate sector The slash in GST rates to 5% without ITC from the previous 12% with ITC for premium homes, and to 1% minus ITC for affordable homes from the earlier 8%, gives the beleaguered realty sector the much-needed breathing room and
The recently released JLL FICCI report indicates that office, affordable housing and student housing segments of realty are set to surpass previous highs in terms of space and investment. According to Ramesh Nair, CEO & country head at JLL India, “India’s real estate sector is at an inflection point and the evolutionary trends in the
Undertaken in the country’s top cities of Mumbai, Bengaluru, Pune, Hyderabad, and NCR, 55% respondents in the age group of 18 and 35 years are willing to rent co-living spaces. Over 70% of millennials, aged between 18 and 23 years, have given co-living spaces a thumbs-up as youngsters moving to new cities and are looking
By Anuj Puri Co-working and car-pooling have become viable options for the millennial workforce, and an exciting new trend – co-living – is also beginning to make its mark with the burgeoning student and working populations across Indian cities. While it is largely the major cities like Bengaluru, Mumbai, Gurugram and Pune that began promoting
Affordable housing finance is estimated to be a Rs 6-lakh-crore business opportunity by 2022, by when the government seeks to achieve housing for all citizens, says A Shankar, COO-Strategic Consulting at JLL India Rapid urbanisation is a reality for emerging markets, and India is no exception to this phenomenon. Urban India today houses 377 million people, making
Anuj Puri, Chairman – ANAROCK Property Consultants 2017 was quite an eventful year for the Indian economy at large, and the real estate sector got more than its usual share of the limelight. A series of reforms and structural changes tore into the very heart of the industry, effecting a surgical strike at market opacity,
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