UNSOLD HOMES
Residential prices surge by 49% in five years in Delhi and Mumbai
Record sales in Delhi and Mumbai cut inventory, raising prices 49% from H1 2019 to H1 2024. NCR, MMR saw price hikes per sq. ft. Anuj Puri noted a 52% stock drop in NCR, with pandemic-driven demand, rising costs, and luxury housing spurring growth. Aakash Ohri and Vivek Singhal highlighted reduced inventory overhang.
Low unsold housing stock makes room to absorb slower pre-sales growth
The tier I residential real estate inventory in India's top eight cities remains manageable, with a quarter-to-sales ratio of 11, lower than the six-year high of 13. Pune and Bengaluru have favorable unsold stock levels, while Mumbai and Chennai face high inventory build-up. Despite strong pre-sales and housing launches in FY24, the absorption rate remains comfortable. Pre-sales for tier-1 players grew 71% on-year in March. Collections increased by 29%, although leverage remains high. The gross debt to collections ratio slightly rose to 2.4x in FY24.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
Robust housing demand helps in faster inventory liquidation
Residential property markets in the top seven cities - Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad and Kolkata - have witnessed a significant 31% decrease in the time taken to sell active unsold housing inventory, showed a JLL analysis.
India's top 7 cities see 31% decline in time to liquidate unsold housing inventory
According to him, time needed to sell the unsold inventory in the premium segment has dropped from 51 months in 2019 to 29 months in the first quarter of 2024, showcasing the strong sales momentum in this segment. Apartments belonging to ticket size category of Rs 3 crore and above, have also witnessed a 11% reduction in time to sell during the same time.
Housing prices in this Bengaluru area jumped 32% in Q1; know how much property prices have risen in your city
Average housing prices in Bengaluru have increased by 19% year-on-year (YoY) in the January-March quarter of 2024. It was the highest increase in residential prices among the eight cities, according to a report released by CREDAI and Colliers Liases Foras. Check how much property price has risen in your city
- Go To Page 1
Housing prices in top 8 markets rise average 10% on-year in Q1: Report
Residential real estate in top Indian cities saw a 10% average price increase YoY in the Jan-Mar quarter, driven by strong demand. Bengaluru, Delhi NCR, Ahmedabad, and Pune led with double-digit growth. Unsold inventory increased marginally nationally but dropped in Pune, Delhi-NCR, and Ahmedabad. Bengaluru and Hyderabad saw a slight dip in unsold units quarterly. Developers are monitoring stock and demand for new launches.
Buyers want bigger, better homes and are willing to pay for them: Aakash Ohri, Joint managing director, DLF Home Developers
DLF plans to launch 90% of its 11.6 million sq ft projects in FY25 in the super luxury segment, with a revenue potential of Rs 36,000 crore. Concerns arise over projects selling out rapidly, but DLF assures low cancellation rates and high end-user demand. DLF emphasizes timely delivery and a cautious business approach amidst cyclical market trends.
China considers government purchases of unsold homes: Reports
China plans for local governments to buy unsold homes to address the property crisis, with the State Council evaluating feasibility and awaiting a decision from the country's leaders.
More than 1400 Amrapali homebuyers will have their flats cancelled if they don’t do this within 30 days; Check full list here
Amrapali homebuyers: According to an advertisement in the Times of India dated April 22, 2024, “In furtherance to repeated notice issued regarding handover, below is the list of home buyers who have not yet taken handing over key of their unit from NBCC (as on 22.04. 2024), are hereby given the last opportunity to take key handover within 30 days failure to do so the respective unit will be deemed cancelled. NO further request in this regard will be entertained.”
Unsold homes in 9 cities down 7 pc in last 3 months; 12pc fall in NCR: Report
Unsold housing inventories fell 7 per cent in the last three months across 9 major cities to around 4.81 lakh units on higher sales than new supply, according to PropEquity. Real estate data analytic firm PropEquity data showed that unsold housing stock has come down to 4,81,566 units at the end of March this year from 5,18,868 units at the end of December 2023 across 9 major cities.
Unsold homes in Delhi-NCR fall 23 pc to 94,803 units at 2023-end, unsold inventories at 10-year low: Anarock
Delhi-NCR's unsold housing stock has fallen 23% from 2022-end levels, driven by high sales velocity and restricted new supply of residential properties, according to real estate consultant Anarock. The number of unsold units in Delhi-NCR fell to 94,803 units in 2023, a decadal low.
NBCC sold over 5,000 units of Amrapali for Rs 2,872 crore
All transactions related to Amrapali projects will take place under the banner of Court Receiver Committee, created specifically to revive almost 46000 stalled homes. NBCC has appointed construction partners in all affected projects, and construction is underway at every site.
Additional housing loans for stalled real estate projects to be treated as standard credit
The Reserve Bank of India (RBI) has informed banks that additional housing loans for stalled real estate projects, revived under the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) scheme, can be considered standard loans. This move aims to support the completion of stalled projects. However, the borrower must not own more than two residential properties in a stalled project, and failure to meet payment terms will revert the account to non-performing status.
37 enemy properties across UP auctioned for Rs 6 crore
In the second batch, the government had listed 27 new properties, free from any legal hindrances, and added to the list of 10 properties which remained unsold in the first auction, said officials. The properties were identified as agricultural land valued below ?1 crore each. They were recommended for sale by the Enemy Property Disposal Committee and approved by the Union home ministry.
Realtors put a lock on festive offers amid high demand
As per industry reports, residential sales in India are projected to achieve a record high in 2023, as developers anticipate selling more than 500,000 housing units by the year's end. According to data analytics firm PropEquity Data, in 2022, developers in the top seven cities sold 464,849 units. In the first nine months of this year, they have already sold 372,961 units.
Realtors expect record sales this year; unsold inventory hits a decadal low
Property developers in India's top seven cities are expecting home sales to reach more than half a million units this year, driven by strong demand and new launches. Despite concerns about rising interest rates, industry executives and experts believe that demand will remain robust. The reduction in unsold housing stocks in tier-1 cities also indicates the confidence of homebuyers. New property launches in the top cities have remained consistent with 2022 levels, and the market's resilience is evident with an 8% rise in absorption compared to last year. Pune, Hyderabad, and Thane have emerged as leaders in new launches and absorption.
Unsold housing stocks dropped by 11% in top 9 cities: PropEquity Study
According to PropEquity research data, unsold housing stocks in Tier 1 cities in India decreased by 11% in Q3 2023 compared to the previous year. While Hyderabad saw a 6% increase in unsold stock, Delhi-NCR region experienced a 7% drop. The rise in housing prices and mortgage rates has posed challenges to housing demand. However, if interest rates on home loans remain stable or soften, an increase in housing demand is expected.
View: Puppies and Rolexes have had it tough since Covid
The prices for pets have been rising amid high inflation. The demand for pets like cats, dogs and rabbits witnessed a surge during Covid. However, with restrictions easing post pandemic, lockdown loneliness eased. This, in turn, resulted in slumping of prices. The trajectory has mirrored the boom and bust in the value of second-hand timepieces, as stock market and cryptocurrency gyrations, as well as higher interest rates, took their toll on those who had speculated on pricey Rolex watches.
Unsold homes highest in Thane at 1.07 lakh units, lowest in Chennai at 19,900 units: PropEquity
Thane in Mumbai holds the highest number of unsold homes with 107,000 units, while Chennai has the lowest with nearly 20,000, says data analytic firm PropEquity. Across nine cities, unsold housing stocks fell 2% to 515,169 units in Q2 from 526,914 in Q1.
Housing prices in this Delhi-NCR area jumped 46% in Q2; know how much property prices have risen in your city
Housing prices in Kolkata have increased by 15 per cent year-on-year (YoY) in the April-June quarter of 2023. It was the highest increase in residential prices among the eight cities, according to a report released by CREDAI and Colliers Liases Foras. Check how much property price has risen in your city
Noida Authority seals over 100 unsold flats of three builders for non-payment of dues worth Rs 1,086 cr
The Noida Authority has sealed over 100 unsold flats of three housing projects here over non-payment of dues collectively worth Rs 1,086 crore, officials said on Friday. The action was taken jointly by the departments of group housing, planning and the local work circle of the Noida Authority on Thursday, they said.
Over 98,000 unsold homes in Delhi-NCR at 2022-end; may take 61 months to clear stocks: PropTiger
The Delhi-NCR market has been facing this issue of unsold inventories for many years as sales velocity has remained subdued. The NCR market is plagued with the problem of stalled projects as many big developers including Unitech, Amrapali, Jaypee Infratech, The 3C Company and Ajnara Group.
IPL 2023 Auction: Ishant Sharma sold to DC for INR 50 lakh, Reece Topley goes to RCB
Indian pacer Ishant Sharma was bought by Delhi Capitals at his base price of INR 50 Lakh in the ongoing Indian Premier League (IPL) 2023 auction in Kochi on Friday.
Anarock facilitates sale of 1,455 unsold units so far in stalled projects of erstwhile Amrapali
The Delhi-NCR market, especially Noida and Greater Noida, has been hit badly because of the defaults in completing projects by many builders, including Amrapali, Jaypee Infratech, Unitech and The 3C Group. More than one lakh homebuyers are stuck across various projects.
In small Chinese cities, unsold housing stock hits highest since 2019
The stock of new homes in small Chinese cities hit its highest since 2019 as of the end of August, according to a report from an independent consultancy, amid fragile demand in the country's downtrodden property market.
Builders crank up home prices amid surging demand; unsold stock down
The residential markets in the National Capital Region, Mumbai Metropolitan Region, Kolkata, Pune, Hyderabad, Chennai, Bengaluru and Ahmedabad have been witnessing rising demand despite increasing prices of construction materials and hardening interest rate.
Unsold housing stock marginally rises to 9 lakh units in March quarter across top eight cities
As per the data, the unsold inventories increased to 9,01,967 units during January-March period of this year from 8,94,100 units in the previous quarter. Out of the total unsold housing stocks across eight cities during the first quarter of this calendar year, Mumbai Metropolitan Region (MMR) and Delhi-NCR, the two biggest property markets in India, contribute 50 per cent.
90 pc south central Mumbai properties unsold despite low loan rates, stamp duty cuts
There are 10,700 housing units currently available for sale in this region, which was formerly the mill land and hence created huge opportunities for development, the report by Anarock Group, a real estate consultancy firm, said.
Load More
