Category: InfraEstate

Massive development plans under commercial and affordable housing spread across 90 acres in Faridabad   Faridabad, dubbed the “Growth District,” is poised for significant expansion as a leading real estate developer announces innovative mixed-use township projects. Known for its construction and development of World Trade Centers (WTCs) across North and West India, the company is set to elevate Faridabad's real estate landscape with substantial investments in commercial spaces, malls, and affordable housing. With an impressive track record of delivering over 3.0 million sqft and an additional 1.0 million sqft scheduled…

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  During H1 2024, Ahmedabad saw 17,360+ new units launched and approx. 22,850 units sold. Available inventory as of H1 2024 was approx. 64,650 units – a decline of 8% from 2023. Inventory overhang reduced to 17 months by H1 2024-end, from 20 months by 2023-end, significantly down from 46 months in 2020. Residential real estate sales volume across Ahmedabad saw highest-ever peak of approx. 40,020 units in 2023. Approx. 42,310 units launched in 2023, compared to 36,515 units in the previous year, marginally short of 2021 peak. Avg. property…

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  In contrast, Q1 2024 saw 29 land deals closed for approx. 721 acres across the country H1 2024 saw more deals closed than corresponding period in 2023 with 54+ land deals for 1,045+ acres closed, against 46 deals for approx. 950 acres in H1 2023 Of total land deals in Q2 2024, 17 for 163+ acres proposed for residential development, 1 each for agriculture, mixed-use development, data centers, logistics park, industrial, retail & mixed-use Bengaluru tops out with 9 land deals for 114 acres in Q2 2024, followed by…

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  Avg. time to complete residential projects of 500+ units in top 7 cities down to 4.9 years from H1 2014 – H1 2024 compared to 6.1 yrs. in 2010-2019 period Chennai saw highest reduction of 36% in completion time, from 5.6 years in 2019 to 3.6 years in H1 2024; in Bengaluru & Hyderabad, completion time down to 4.8 & 4.2 years respectively NCR saw a significant 25% reduction – from 7.2 years in 2019 to 5.4 years in H1 2024 In MMR, average completion time reduced to 5.2…

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Anuj Puri, Chairman – ANAROCK Group   With Union Budget 2024-25 set to be tabled in July, the real estate sector pins renewed hope on the Modi 3.0 regime. Expectations are high for tax reliefs and other sentiment boosters. The future of the overall industry also depends on unfettered infrastructure deployment to support and improve urban living standards as well as to develop and promote newer areas.   Will the government finally decide to give in to the long-standing demand for industry status for the entire housing sector? Will it…

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  NCR recorded 49% jump in avg. residential prices b/w H1 2019 & H1 2024 MMR saw avg. residential prices appreciate 48% in the period Massive sales saw NCR witness over 52% 5-year decline in unsold stock Unsold stock in MMR saw 13% decline in last five years MMR witnessed massive new supply post-pandemic; NCR saw restricted supply in the period NCR saw approx. 2.72 lakh units sold; MMR saw sales of 5.50 lakh units   To say that India's two leading realty hotspots NCR and MMR (Mumbai Metropolitan Region)…

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  Avg. prices are INR 7,800 per sq. ft. as on H1 2024-end against INR 4,960 per sq. ft. by H1 2019-end Inventory overhang fell to record low of 8 months by H12024-end, down from 15 months in H2 2019; available inventory of approx. 45,400 units – down 11% over H1 2023 Approx. 32,500 units launched in H1 2024 – up 30% against H1 2023; premium segment (INR 80 lakh – 1.5 Cr) dominates new launches in H1 2024 with 39% overall share; luxury segment (>INR 1.5 Cr) next with…

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