Anarock Property

Housing inventory overhang lowest in 5 years on the back of robust sales

Data from Anarock showed that inventory overhang was the lowest in Bengaluru at 13 months

Unsold housing stock falls 12% in last 5 yrs to 627,000 units: Anarock

With a significant rise in housing sales post-COVID, real estate consultant Anarock has said unsold homes with developers across seven major cities fell 12 pc in the last five years, and time needed to clear these inventories have come down by half to just 20 months. In its latest report, Anarock said unsold housing stocks have declined 12 per cent to 6,26,750 units at the end of January-March this year from 7,13,400 units as of March 31, 2018. More importantly, Anarock said, inventory overhang (estimated time developers need to clear unsold inventories at current sales velocity) fell to 20 months from 42 months at the end of March 2018. An inventory overhang of 18-24 months is normally considered healthy. Anarock Chairman Anuj Puri attributed the drop in unsold stocks and inventory overhang to a surge in housing sales. In Q1 of 2023, the top 7 cities recorded all-time high sales of more than 1.14 lakh units. "Strong home-ownership sentiment, relatively lower home loan rates, str

Rs 50k per month for 2bhk: Bangalore is now India's hottest rental market

Anarock's data shows rents in various Bangalore neighborhoods have jumped by double digits since 2019, echoing a wider surge across India's major cities

Housing sales in Gurugram up by 10% in January-March, says Anarock

Delhi-NCR's prime residential market Gurugram saw a 10 per cent rise in housing sales during January-March, but demand fell in Noida and Greater Noida by 23 per cent, according to Anarock. Market experts attributed the rise in sales in Gurugram to strong demand for luxury homes. Sales dropped in Noida-Greater Noida due to lesser launches of new projects and lower demand amid increase in mortgage rates as well as property prices, they added. Data from real estate consultant Anarock showed that housing sales in Gurugram went up 10 per cent to 9,750 units in January-March from 8,850 units in the year-ago period. However, Noida-Greater Noida saw a 23 per cent decline in sales to 4,250 units from 5,495 units. In the rest of Delhi-NCR market like Delhi and Ghaziabad, housing sales fell 30 per cent to 3,160 units from 4,490 units. Overall in Delhi-NCR, housing sales fell to 17,160 units in January-March from 18,835 units in the year-ago period. "The underlying cause for this drop seems

Average residential property rentals to rise further: Industry experts

Consumers are preferring to take homes on instead of buying them, as construction costs and interest rates rise

House rent across major cities in India to keep rising in 2023: Anarock

The biggest jump in the house rent was seen in Noida Sector 150 where the monthly rent for a 1,000 sq ft flat jumped 23 per cent from Rs 15,500/month in 2019 to Rs 19,000/month

Budget 2023: Real estate sector wants tax sops, PPP in affordable housing

Budget 2023: Co-working space companies want the Centre to reduce the rate of tax deducted at source on their services

Go ahead with house purchase in 2023 despite high loan rates

By the time interest rates moderate, prices could move higher

Older house can offer price and location advantage, say experts

But ensure repair expenses don't erode initial gain; also carry out title check

Indian warehousing needs $3.8 bn to meet 223 mn sq ft demand in next 3 yrs

Top-3 sectors, namely, 3PL, e-commerce, and manufacturing & automotive, account for a 78 per cent share of warehouse leasing space across seven cities

Housing sales in tier-1 cities in 2022 set to cross previous peak of 2014

Total sales in top-7 cities is expected to exceed 360,000 units this year; the previous peak in the year 2014 was 343,000 units

Air quality-driven construction ban may delay realty projects in Delhi-NCR

568,000 housing units are under various stages of completion. Periodic bans by NGT, govt, or apex court in response to poor air quality have serious consequences, say experts

Housing sales up 41% in July-Sept period across 7 cities: Anarock Report

Sales of residential properties increased 41 per cent to 88,234 units in July-September this year across seven major cities, property consultant Anarock said on Friday. The housing brokerage firm released its quarterly data of seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune. As per the data, housing sales rose 41 per cent to 88,234 units in the third quarter (July-September) of 2022, from 62,799 units in the year-ago period. New launches increased 45 per cent to 93,490 units from 64,560 units in these seven cities. "The momentum of both housing sales and new launches stayed strong in the top 7 cities in Q3 2022 despite major headwinds. The appetite for homeownership has remained undeterred, with maximum sales being driven by end-users," Anarock Chairman Anuj Puri said. He noted that there has been an increase in new supply by the leading and listed developers, who also reported robust housing sales. Puri felt that

Average monthly rent of luxury homes up 8-18% in last 2 yrs in top 7 cities

Average monthly rentals in posh residential colonies across seven major cities rose 8-18 per cent in last two years while capital value appreciated by 2-9 per cent, according to Anarock. Real estate consultant Anarock noted that demand for luxury residential properties -- for buying and renting -- in upscale colonies has increased across the seven cities namely Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune. As per the data, Mumbai's Worli saw the highest rental growth of 18 per cent to Rs 2.35 lakh per month from Rs 2 lakh per month in 2020 for luxury homes of minimum 2,000 square feet area. Bengaluru's Rajaji Nagar witnessed the highest capital appreciation of 9 per cent with average prices increasing to Rs 6,200 per square feet in 2022 from Rs 5,698 per sq ft in 2020. "Most prominent luxury housing markets witnessed double-digit growth in rentals in the last two years," Anarock Chairman Anuj Puri said. "Pre-COVID, average 2-year lux

E-registration of property promises freedom from long queues, touts

However, the procedure is currently limited only to primary sales in Maharashtra

'India's first shopping mall-cum-coworking facility to come up in Pune'

India's first shopping mall-cum-coworking facility, housing some of the niche retail brands, is expected to be launched in Pune in mid-October, according to Anarock Retail. Situated adjacent to the Pune Airport, the AeroMall, being developed by Pebbles Infra-Tech under the PPP model with AAI, is spread over 4,45,000 sq ft, including 1,30,000 sq ft of leasable space for retail. As sole advisors to the facility, Anarock Retail has designed the complex, managed its development, and crafted its tenant mix, Anarock Retail, the retail services division of the home-grown real estate consultant Anarock, said. The post-pandemic revival in air travel has brought airport retail back centre-stage. However, there continues to be a deficit of quality retail spaces at Indian airports for the best-suited retailers dealing in apparel and fashion, wellness, electronics and travel accessories, F&B, and beauty products, the company said. Airport retail is attractive for retailers due to the ...

Highest office space vacancy in Delhi-NCR at 28.5%: Anarock report

Office vacancies in NCR are the highest among the top 7 cities at 28.5%, followed by Kolkata at 23.5% and Mumbai Metropolitan Region about 16%, Anarock said in a statement

Anarock's FY22 revenue up 32% on recovery in housing demand: Chairman Puri

Our revenue has grown to Rs 402 crore during the last fiscal from Rs 305 crore in the 2020-21 financial year: Anuj Puri

'Realty mkt sees 28 land deals comprising over 1,200 acres so far this yr'

Real estate market has witnessed at least 28 land deals, including outright purchases and joint ventures, so far this year comprising over 1,200 acres, according to property consultant Anarock. The consultant noted that the appetite for land acquisition continues unabated for developers and other entities in the post-COVID world. Anarock highlighted that developers are eyeing prime land at key locations across India for future developments across real estate asset classes. "In comparison to H1 2021, the number of deals has doubled from 14 deals in H1 2021 to 28 deals between January 2022 till date," Anarock Chairman Anuj Puri said. As expected, he said residential development remains the prime focus, given the robust housing demand despite a hike in interest rate and property prices. Since the beginning of this year, Anarock said that various entities sealed at least 28 separate land deals cumulatively accounting for over 1,237 acres across the country. Of the total transacted l

Home sales more than double in Q3CY21 on robust hiring, pay hike in IT/ITES

Mumbai Metropolitan Region or MMR accounted for 33 per cent of the total sales, followed by NCR with a 16 per cent share, Anarock said