India's real estate sector remained buoyant as residential housing sale surged to an 11-year high in the first half of 2024. A total of 1.73 lakh residential units sold during the January-June period of 2024, according to the Knight Frank report. Mumbai led with 47,259 units sold, up 16% during H12024. The premium housing sales rose to 34% market share in H1 2024, from 15% in H1 2018. Meanwhile, the affordable housing segment sales dropped to 27% in the January-July period 2024.
In Q1 2024, Mumbai led Indian cities with an 11.5% year-on-year increase in prime residential prices, ranking third globally in Knight Frank's Prime Global Cities Index. Delhi followed with a 10.5% rise, securing fifth place. Knight Frank attributed the surges to India's robust economic growth, with GDP exceeding 8% annually. 'Prime Global Cities Index' is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide.
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?
Jaypee home buyers: Jaiprakash Associates Ltd (JAL) is currently in the process of insolvency proceedings, and an appointed resolution professional by the NCLT will now assume control. As per a news report from the Times of India, the board, previously led by the Gaurs, will cease to function.
If you are confused by personal finance terms, jargon or calculations, here’s a new series to simplify and deconstruct these for you. In the first part, ET Wealth explains what rental yield is and how it is calculated.
MahaRERA: Now flat buyers don't have to worry about parking space inside the flat, as MahaRERA has passed a order mandating parking space to be accurately communicated in both allotment letter and sale agreement. Read here to know more about the parking order by MahaRERA and how it will help you.
Homebuyers stuck in stalled real estate projects face financial strain and uncertainty. They pay EMIs and rent while bearing the loss of opportunity cost. If you have property in a delayed or stalled real estate project, here are some things you can do as a home buyer.
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
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.”
All eight cities — Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), and Pune saw an increase in housing prices in Q4. "The current state of real estate is the most productive when sales, supply, and prices are growing, and the price rise is not speculative. These factors work in harmony in a balanced and healthy real estate market.”, said Pankaj Kapoor, Managing Director, Liases Foras. Check how much housing prices have increased in your city in last one year.
With an 8.41% year-on-year increase in Q32024, Chennai witnessed the highest growth in the Housing Price Index. The central bank released the All-India Home Price Index (HPI) based on transaction-level data received from the registration authorities in 10 major cities. Check how much home prices have increased in your city.
Affordable housing in interim budget 2024: According to the Finance Minister budget speech, the government will announce a new scheme for middle class to build or buy their own houses. The new scheme will help the middle class living in rented houses, or slums, or chawls and unauthorized colonies to own a house.
Ayodhya Ram Mandir : The construction of the Ram Mandir in Ayodhya has triggered a real estate boom in Ayodhya. The prices of land in and around Ayodhya have skyrocketed — in some cases, five to 10 times the prices prevalent four to five years ago — according to several real estate players. Several townships and private hotels are expected to come up in the city in the next few years. Is it the right time to invest in real estate in the holy city? How much returns can you expect? Which are the areas where you should should you invest?
According to the Knight Frank Affordability Index, Ahmedabad has emerged as the most affordable housing market in the country among major cities. Affordability Index indicates the proportion of income that a household requires to fund the EMI of a housing unit in a particular city. Thus, an affordability index level of 40% for a city implies that on average, households in that city need to spend 40% of their income to fund the EMI of a home loan for a unit. Check the full list of affordable cities in India here.
Akshay is a senior management professional with a good salary, which includes a sizeable performance-linked variable pay. He has a portfolio of stocks, mutual funds, deposits and bonds, and is comfortably placed in terms of his financial goals. He thinks that it may be a good idea to buy a second property for price appreciation. His family thinks that a holiday home would be a good idea. What factors should Akshay consider while making a choice?
Among the top seven areas, Hyderabad saw the highest increase of 42% in the average price of premium homes in the five-year period. The price rose from Rs 7,450 per sq ft in 2018 to Rs 10,580 per sq ft during the first half of 2023, as per ANAROCK Research data. Know how much residential property prices have risen in your city
RERA across 27 states and eight Union Territories have resolved up to 1,16,300 cases of homebuyers' disputes till November 28, 2023, according to ANAROCK Research report based on data from the Ministry of Housing & Urban Affairs (MoHUA). On the other hand, registrations for projects and real estate agents under RERA have increased by 63% in the last two years. All you need to know
Housing prices in Bengaluru have risen by 18% year-on-year in the third quarter, largely led by the Periphery and Outer East region. Housing prices here surged 39% year-on-year, all thanks to the launch of high-end luxury projects and the completion of KR Puram & Whitefield metro lines, according to a report released by CREDAI and Colliers and Liases Foras. How much returns can you expect from your property? Find out here
Prices up in Greater Noida West area: One of the major reasons behind this substantial growth in Greater Noida West area is its affordability. Properties in Greater Noida West are relatively more affordable compared to other parts of the National Capital Region (NCR), says report. Around 62% of homebuyers looked for 3-BHK and larger apartments in the region over the last five quarters, says report. What people are buying in the Greater Noida West, top 10 developers in the region and other details homebuyers must know.
Property prices have surged in the last few years, driven by various factors such as increased input and construction costs, rising land prices, and heightened demand. Moreover, there is a noticeable shift in homebuyer preferences towards larger homes with enhanced amenities, contributing to the upward trajectory of prices. Know how much residential property prices have risen in your city, as per ANAROCK Research.
The revenue department of the Delhi government has initiated an effort to make all land records publicly accessible to the public in order to prevent property fraud, eradicate corruption, and rule out any delays in the registration of sale titles
Dreaming about a personal abode in nature’s lap is one thing, but can you fit it within your financial reality? A weekend property will cost a tidy sum. This will eat into a sizeable portion of your savings. Make sure your priorities are right before taking the plunge. Here are the key things you need to consider before buying a vacation home.
Property price in Delhi in 2023: With a 14.9 per cent year-on-year increase in Q12024, Delhi witnessed the highest growth in the Housing Price Index, according to data released by the Reserve Bank of India. . Mumbai came second in the list with a 7.6 per cent year-on-year rise during the June quarter. Kolkata home price index saw the steepest contraction of 6.6 per cent year-on-year in the June quarter. Check how much home prices have increased in your city.
As the real estate investment landscape transforms, attention is turning to commercial properties due to their increasingly apparent advantages. Kunal Moktan, Co-founder of Property Share, sheds light on the differences between investing in residential and commercial real estate, the performance of the commercial real estate sector in India, the impact of sustainability on the industry, and the role of technology in democratising access to this asset class.
A pilot project was launched at the Defence Colony and Najafgarh sub-registrar offices last week where applicants can fill up their personal data, upload supporting records, pay stamp duty online and take appointments for the registration of the documents. Once stabilised, the national generic document registration system (NGDRS) will be adopted in the remaining 20 sub-registrar offices too.
Keep in mind the objective of buying and earning potential of the property. To ensure that the property has the potential to earn rent, it is important to invest in its upkeep and assess its demand and occupancy
An individual can buy a auction property (also known as distressed property) from a bank. The property will be auctioned and sold to the highest bidder. Before participating in the auction, the individual should keep certain things in mind. This is because an property is being sold in an auction because a borrower defaulted on the EMI payments.
The 250 basis points increase in policy rates has reduced affordability across markets by 2.5 per cent on average, showed Knight Frank India's Affordability Index for 2023. The mid-and-premium segments in the residential market have been consistently outperforming, the report said. Check affordability index of leading eight cities of India
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
Housing prices in the Delhi-National Capital Region (Delhi-NCR) increased by 16 per cent during the January-March quarter of 2023, the highest among the top eight cities in India, according to the report released by CREDAI, Colliers and Liases Foras. Check how much property price has risen in your city
There have been several instances where an RWA’s decisions have infringed upon the legal and constitutional rights of the people living within the society. At times, the rules seem arbitrary, placed there by the whims of a handful of people who are in power in the association. Here’s what you can do if its actions are unreasonable.
Most RWAs have byelaws that may contain information about how and to whom should issues be directed to. All appeals against the decision of the managing committee are escalated to the GBA, which should resolve the issue within a month.
Mid-segment homes (Rs.40 lakh to Rs.80 lakh dominate new supply with 36% share, followed by premium (Rs.80 lakh to Rs.1.5 crore) and affordable (< Rs.40 lakh) with 24% and 18% share.
Developers entice homebuyers by telling them that they only need to pay 5-20% of the property price while booking and that EMI payments will start only after they get possession. However, there is usually a time limit to such offers as the builder may state that possession will be given in two years or by a particular month and year.
Nearly five lakh houses are stuck in stalled projects in just top seven cities. Find out how some gutsy homebuyers took on builders to get their houses.
The courts, filing FIRs against the developer and filing cases with the Economic Offences Wing as well as the Enforcement Directorate are other options to put pressure on the developer and find a resolution.