As the upcoming Noida International Airport inches closer to completion and infrastructure development in the nearby areas makes progress, there has been an uptick in global interest and investment in the Yamuna Expressway region. The latest in the list is the proposal to build an American style city near the upcoming airport.
Mumbai real estate market has witnessed some of the costliest luxury apartment deals across the country of which a few properties have been sold for ₹1.50 lakh per sq ft and above.
The National Capital Region (NCR) is witnessing the emergence of new realty micro-markets, fueled by robust infrastructure development and improved connectivity, say experts.
Traditionally Gurugram, Noida, Faridabad and Ghaziabad have been considered the main realty hotspots in NCR, but due to infrastructure upgrades many areas such as Sohna, Raj Nagar Extension, New Gurugram, Dwarka Expressway region, Yamuna Expressway region and Meerut are grabbing spotlight as booming realty hubs.
Buyers of ultra luxury homes priced at ₹3 crore and above took the least time to decide on the purchase, approximately 15 days in H1FY 2025, while buyers of apartments priced between ₹50 lakh and ₹1 crore took almost a month to press the buy button, a report by Anarock has said.
Overall, the lead-to-buy conversion time to buy property in India has come down to 26 days on an average in the first half H1 FY25 against 33 days in FY 2021, it said.
Traditionally, real estate auctions in India were limited to offline discovery, non-transparent and intimidating process and always a worry about legal and pending dues issues.
This not only faced several limitations in awareness, as industry surveys by the National Real Estate Development Council (NAREDCO) in 2022 show that only 27 per cent of respondents were aware of real estate auctions, but also limited participation due to information asymmetry and fear of getting a troublesome property.
Gen Z—the segment of the population 12-28 years of age—is buying their first homes at least five to six years earlier than Millennials (those falling in the 29–43 age bracket) did while relying heavily on home loans, experts say. A survey of 1,629 Indian urban homebuyers conducted by real estate consultancy Knight Frank India pointed out that more than 36 percent of Gen Zers are seeking to buy a home, the highest among all age groups.
As the real estate market undergoes significant shifts, the current landscape presents an unprecedented opportunity for property sellers. With evolving economic conditions, shifting buyer preferences, and emerging market trends, now is an essential moment for property owners looking to sell and investors to consider capitalising on their real estate assets. Here’s why selling your property today might be your most strategic decision.
1. Prices at All-Time Highs
Average residential prices between 2019 to the end of September 2024 have seen over 50 per cent rise in India’s top seven cities, as per ANAROCK Research. Analysts and experts told DH that they don’t expect realty prices to moderate in the near future.
However, it is a worry as the elevated prices rises will not be sustainable and the industry is likely to go into correction mode subsequently.
I travel a lot to understand how different countries address their urban sprawl because we use such insights to design integrated townships here in India. In fact, one result of these travels was our partnering with a globally acclaimed architect who helped us recreate a global residential experience in India.
However, my main takeaway from this globetrotting has been far less positive – the alarming rate at which rampant urbanization is challenging even the most glamorous world cities.
While residential property sales saw a decline in Q3 of 2024, office leasing is going strong in top cities of the country. Anshul Jain, chief executive, India, Southeast Asia and APAC tenant representation, Cushman & Wakefield, shares his outlook for different property segments in an interaction with Raghavendra Kamath.
What is the outlook on office leasing and rents in 2025?
