Insite Report Jul-Sep 2017
Methodology
The Insite Report by 99acres.com captures the quarterly capital trends and the annual rental analysis of residential apartments in key real estate markets – Delhi NCR, Mumbai Metropolitan Region (MMR), Bangalore, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad. In order to assess the prevailing sentiment, the report delves deep into demand and supply of properties across varied budget segments and occupancy stages. While demand is a function of queries received, supply is based on property listings posted on 99acres.com in Jul-Sep 2017.
National Outlook
HOME BUYING SENTIMENT
Higher optimism among buyers post RERA implementation in States where the portal is live and authority has been set is expected to uplift home buying sentiment. Fence-sitters, deferring purchase decisions since demonetisation, may enter the market in the ensuing quarters, pushing sales volume up.
PROPERTY PRICES
While muted sales in the primary market and ambiguous State norms kept a check on prices till now, projects with RERA registration are expected to command a premium across cities. Increased attempts to liquidate investments will keep the market plush with inventory, constraining price growth.
RENTAL LANDSCAPE
Rental market continued to benefit in the wake of baffled home buying sentiment, stemming from the collective impact of RERA and GST. Average ‘asks’ in the rental segment are further anticipated to tread a growth path across metro cities.
SUPPLY
While RERA limited new launches, affordable housing bracket was testimony to a few projects across city peripheries. Demand-supply gap in the under-construction category trimmed. Free from GST impact, the secondary market, however, will remain swamped with inventory.
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