Share of affordable homes -- priced up to Rs 45 lakh each -- in total housing sales more than halved to 22 per cent during January-March across top eight cities amid strong demand for luxury flats, according to PropTiger. Share of affordable homes in total housing sales stood at 48 per cent in the January-March period of 2023 calendar year. Housing brokerage firm PropTiger.com data showed that housing sales grew by 41 per cent to 1,20,640 units during January-March 2024 across top eight cities from 85,840 units in the corresponding period of the previous year

Token money is the amount that a buyer pays the seller to show his interest in the property transaction. It is usually 1-5% of the total property value. This transaction is recorded by signing a notarised document that will have some legal holding. The token money is paid to a third-party ESCROW account till the property transaction is complete. This seals the deal and the buyer can start on the rest of the formalities related to home buying, such as applying for a home loan and preparing registration documents

China’s local governments are stepping up the easing of rules for their housing markets, as a protracted sales slump weighs on the economy and real estate developers. A total of 15 cities have removed the lower limit for mortgage rates on first-home purchases as of Wednesday, the Economic Observer reported, citing its tally of announcements by local governments. The move, powered by the central bank’s relaxation of minimum mortgage rates last year, is designed to entice homebuyers as prices fall

Work on housing quarters at Netaji Nagar — under a redevelopment project to be undertaken by public sector enterprise NBCC — is expected to start by June and will be completed in seven phases, officials aware of the matter said. In all, 6,500 flats will be constructed under six different categories, in phases, in high-rise buildings that will accommodate more residents, the officials said. Tenders for the first two residential blocks closed on Monday, they added

The micro-markets of Navi Mumbai are hotting up for more action due to improved connectivity and the expansion of modern infrastructure facilities Things are looking good on the Indian residential market front. As Anuj Puri, chairman, of Anarock Group predicts, “All signs currently favour the residential market in 2024, and the year can well create another peak in housing sales and new launches.

The micro-markets of Navi Mumbai are hotting up for more action due to improved connectivity and the expansion of modern infrastructure facilities Things are looking good on the Indian residential market front. As Anuj Puri, chairman, of Anarock Group predicts, “All signs currently favour the residential market in 2024, and the year can well create another peak in housing sales and new launches.

It is a new Bharat, driven by youth, technology, and strong governance support towards development. The rapid infrastructure development across the country is slowly bridging the gap between rural and urban India, facilitating growth and unlocking development and trade potential across numerous regions.

The development of new infrastructure projects is creating additional avenues for real estate development and investment, as previously undervalued and overlooked locations are now gaining prominence due to improved connectivity and the availability of affordable open land

Demand for retail spaces in shopping malls and high-street locations may decline up to 15 per cent this year from a record 71 lakh square feet in 2023 calendar year with retailers being cautiously optimistic, according to CBRE. Leasing of retail spaces in shopping malls and high street locations rose 48 per cent to 71 lakh (7.1 million) square feet in 2023 across eight major cities as against 48 lakh (4.8 million) square feet during the 2022 calendar year

The industrial and logistics sector witnessed an absorption of 13.5 mn sq. ft. in Q1 2024 compared to 11.0 million sq. ft. in Q1 2023, representing 22.7% Y-o-Y growth. Tier I cities witnessed 78% of the absorption, while tier II and III cities accounted for the remaining 22%, a new report by Savills India has shown. The overall absorption during Q1 2024 is led by sustained demand from the 3PL (third party logistics) and manufacturing sectors as well as a surge in demand from the FMCG (fast moving consumer goods) sector.

In the first quarter of 2024, the luxury real estate sector established another benchmark. It not only contributed a massive 34% to new residential launches but also displayed a consistently rising graph, ascending sharply from the 13-14% growth it had clocked in 2019, according to a report by Cushman & Wakefield. 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%.