In FY-24, over 83 land deals for over 1,135 acres closed in top seven cities alone, remaining 18 deals in tier 2 and 3 cities, including Ahmedabad and Ayodhya https://www.hindustantimes.com/real-estate/more-than-101-land-deals-for-approximately-2-989-acres-closed-in-fy-24-across-cities-including-ayodhya-101713685761175.html?utm_source=whatsapp&utm_medium=social&utm_campaign=ht_site
According to the report, India’s economic growth in the next decade will depend heavily on several factors, including a growing young population, bolstered domestic manufacturing, infrastructure development, and urban expansion. https://www.financialexpress.com/money/indian-real-estate-sector-to-be-worth-usd-1-5-trn-by-2034-78-mn-new-homes-needed-in-cities-knight-frank-cii-report-3455320/
A significant draw for NRIs considering investment in luxury Indian real estate is the compelling affordability of high-end properties compared to those in major global cities. https://www.financialexpress.com/business/industry-why-nris-are-investing-in-ultrasupreme-luxury-residences-in-mumbai-3457317/
Anarock highlighted that listed cos like Prestige Estates, DLF, Godrej Properties, Sobha, Oberoi Realty have been on a land-buying spree since pandemic amid significant demand for their properties https://www.business-standard.com/industry/news/real-estate-firms-may-report-strong-q4-with-some-moderation-in-pre-sales-124041400267_1.html
Among the top eight cities, Mumbai and Pune emerged as frontrunners, jointly accounting for 44% of total unit launches, with Mumbai leading at 28% and Pune closely following at 16%. https://www.financialexpress.com/money/luxury-housing-on-a-roll-in-india-spearheaded-by-established-developers-3453414/
The real estate consultant Anarock and realtor’s body NAREDCO’s report titled Real Estate Unboxed: The Modi Effect was released on Monday. https://www.news18.com/business/indias-real-estate-sector-created-over-3-crore-job-opportunities-in-the-last-decade-report-8845358.html
PropTiger.com data showed that housing sales grew by 41 per cent to 1,20,640 units in the first quarter of this calendar year from 85,840 units in the corresponding period of the previous year. https://www.financialexpress.com/money/houses-worth-rs-1-11-lakh-crore-sold-during-q1-2024-up-by-68-in-value-terms-report-3450935/
While Knight Frank does not see this as an alarming factor yet, it blamed higher property prices for the trailing figures. Average residential real estate prices in Bengaluru grew 9% year-on-year during the first quarter, only second to Hyderabad at 13%. https://www.deccanherald.com/india/karnataka/bengaluru/bengaluru-tops-office-leasing-trails-housing-sales-in-q1-2024-knight-frank-2965633?utm_source=whatsapp&utm_medium=referral&utm_campaign=socialshare
RBI’s decision to keep lending rates unchanged presents EMI-dependent homebuyers and those waiting on the sidelines to fulfill their home-ownership aspirations https://www.hindustantimes.com/real-estate/rbi-monetary-policy-2024-unchanged-interest-rates-to-encourage-homebuyers-to-invest-in-real-estate-boost-housing-sales-101712296793576.html
Those priced below Rs 50 lakh record dip in sales in January-March quarter: Knight Frank https://www.business-standard.com/industry/news/homes-priced-above-rs-1-cr-corner-highest-share-ever-in-total-sales-report-124040400349_1.html
