The Indian real-estate market is going through exciting times: Sales have started picking up and the rental market is growing at a healthy rate too. A survey in 2009 pointed out that almost 35 per cent of urban families were living in rental homes; another survey in 2011 indicated that a massive 24.7 million families lived on rent.
Anuj Puri, former Chairman & Country Head of international property consultancy JLL India, has launched ANAROCK Property Consultants, essentially rebranding JLL's erstwhile residential brokerage business which he acquired earlier this year. Simultaneously, Puri announced the firm’s real estate investment and fund platform, which will invest Rs 300 crore in residential real estate projects.
Affordable housing schemes for the middle and lower income groups are finally on a serious growth curve in 2017, with huge demand in both segments now also being met with increasing supply. It may seem strange that massive demand and massive unsold residential inventory can coexist, but this is in fact the result of pricing mismatch.
There is so much talk of the death of brick-and-mortar retail as a consequence of the aggressive advent of e-commerce into the country, when the fact is that shopping malls have just got started in India – and they are definitely here to stay.
The year 2017 has not exactly lived up to the expectations of the residential property sector. RERA has been deployed, but as of today, only 18 states and seven Union Territories have notified RERA, while 10 states are yet to notify it.
ANAROCK Property Consultants released its research report ‘Mumbai Redefined’ in association with ACETECH – the world’s third largest exhibition and Asia’s leading trade fair for architecture, building materials, innovation and design.
By now, it has become quite clear that as a generation, millennials have a very different take on homeownership than their parents and grandparents did. This trend has been studied extensively in the West, but it has made itself quite obvious in India too. How do millennials view home purchase differently in general, and in India in particular?
Over the past one year, demonetisation has been a buzzword across all Indian industries, but much more so in real estate. The radical move of banning high-value currency notes, seen as the government’s surgical strike on black money, has become a landmark event in the history of the Indian economy.
India has registered a historic improvement in latest ranking for doing business, released on 31 October by the World Bank. In fact, it is one of the top ten improvers for the current year assessment, thanks to the implementation of key reforms pertinent to eight out of the 10 indicators that World Bank factors in for this index.
We keep hearing of the 'wait-and-watch' or 'fence-sitting' syndrome on the residential property market, which basically means that a significant number of people who want to buy a home are not doing so.