+
Developers bank on GDP growth to push future home sales
Real Estate

Developers bank on GDP growth to push future home sales

Mumbai builders are queuing up to take advantage of the development premium discount offered by the state government. Industry leaders talk to E Jayashree Kurup that they are confident this large volume of stock, which will hit the market in the next 3-4 years, will continue to fly off the shelves as new segments of the economy emerge from the slowdown.
 
Has the over 47,000 homes sold in the MMR (Mumbai Metropolitan Region) from July 2020 to March 2021 taken the edge off the buyer's appetite? Will the upto 50% discount on development premiums lead to a massive amount of stock which could create a glut in the market?
 
Developers in Maharashtra had already received a shot in the arm when the state government dropped stamp duty rates to 2% till December 2020 and to 3% till March 2021. As a result of this incentive, home buying shot up. Mumbai, along with Pune, accounted for over 45% of houses sold in India between January and June 2021, according to a Knight Frank report. 
 

Mumbai builders are queuing up to take advantage of the development premium discount offered by the state government. Industry leaders talk to E Jayashree Kurup that they are confident this large volume of stock, which will hit the market in the next 3-4 years, will continue to fly off the shelves as new segments of the economy emerge from the slowdown. Has the over 47,000 homes sold in the MMR (Mumbai Metropolitan Region) from July 2020 to March 2021 taken the edge off the buyer's appetite? Will the upto 50% discount on development premiums lead to a massive amount of stock which could create a glut in the market? Developers in Maharashtra had already received a shot in the arm when the state government dropped stamp duty rates to 2% till December 2020 and to 3% till March 2021. As a result of this incentive, home buying shot up. Mumbai, along with Pune, accounted for over 45% of houses sold in India between January and June 2021, according to a Knight Frank report.  Click here to know more…

Related Stories

Gold Stories

Next Story
Infrastructure Transport

MMRDA Targets Completion of Projects by December 2028

The Mumbai Metropolitan Region Development Authority (MMRDA) is targeting the completion of all its ongoing infrastructure projects by December 2028, a year ahead of its December 2029 deadline, Metropolitan Commissioner Dr Sanjay Mukherjee has said.Speaking at the sixth edition of the Real Estate & Infrastructure Investors' Summit (REIIS) 2026 in Mumbai, Mukherjee said the authority was developing an integrated network of roads, tunnels, sea links and Metro corridors under its broader vision of “Mumbai in 59 Minutes”.The objective is to improve east-west and north-south connectivity an..

Next Story
Building Material

High-Performance Façades Gain Ground in Indian Buildings

High-performance façades are gaining greater importance in Indian architecture as developers and architects increasingly focus on energy efficiency, thermal comfort and building performance, according to Shankar Fenestrations & Glasses.The company said modern façade systems are increasingly being considered as part of a building's overall performance strategy rather than being used primarily as aesthetic elements.High-performance glass, curtain wall systems and structural glazing can contribute to thermal regulation, solar control, daylight management and indoor comfort. Their growing ad..

Next Story
Technology

SPML Infra's 104.4 kWh BESS Battery Pack Clears Global Tests

SPML Infra has announced that its proprietary 104.4 kWh Battery Energy Storage System (BESS) battery pack has completed key international safety, performance and transportation testing and certification requirements, marking a step towards its commercial deployment.Developed under the company's own intellectual property, the battery pack has completed requirements under UL9540A, IEC 62619, IEC 63056, IEC 60730, IEC 61000-6-2, IEC 61000-6-4 and UN38.3 standards.The testing covers areas including thermal runaway safety, battery performance, system functional safety, electromagnetic compatibility..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code