Insite Report Oct-Dec 2018
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 Oct-Dec 2018.
HOME BUYING SENTIMENT
While buyer sentiment improved manifold, sales were impacted by compliance related challenges. Homebuyers in Kolkata, for instance, waited for clarity over HIRA, and those in Delhi NCR snubbed the under-construction segment due to uncertainty over GST rates. Bangalore, Mumbai, Pune and Hyderabad continued displaying signs of realty revival.
Barring Delhi NCR and Kolkata, where property prices maintained status quo, all metros registered an upward revision in property prices with Hyderabad leading the charts with a two percent uptick, QoQ. The legacy built-up of inventory in Delhi NCR is likely to keep prices under check in the quarters to come. Other metro cities may see modest price hike.
The growth of the rental market continued unabatedly in Oct-Dec 2018. The trend is likely to continue until the capital market undergoes a complete revival. With Kolkata in the lead, all metro cities reported an uptick in average rental ‘asks’ by 2-4 percent, except Delhi NCR where average rentals increased by a modest one percent due to oversupply of residential units.
Though the absorption of residential units dipped, QoQ, the reduction in the inventory pile-up across cities spelt good news. New projects, although restricted, remained inclined towards affordable housing segments, accounting for over 40 percent of the total new inventory. While the country boasts of over 34,800 RERA-approved projects, the pace of registration remained a concern.
DownloadReport Market Movers Under-construction segment awaits clarity on GST rate cut While the exemption of projects with a completion certificate from GST cheered homebuyers, no decision on the Centre’s proposal....
DownloadReport Market Movers RERA implementation takes a step ahead The implementation of RERA inched ahead as Haryana launched separate portals for the Panchkula and Gurgaon benches, and the latter issued....
DownloadReport Market Movers Infrastructure projects receive a boost Multiple infrastructure projects at different stages of development are expected to set the pace for the city’s realty growth. Some of these....
DownloadReport Market Movers Civic body proposes spike in property taxes The civic body has proposed a 25 percent increase in taxes for residential properties and 30 percent for commercial units....
DownloadReport Market Movers Affordable housing takes centre stage Civic bodies in Pune and Pimpri Chinchwad plan to construct around 35,000 housing units under PMAY in areas such as Mundhwa, Yerwada,....
DownloadReport Market Movers Infrastructure overhaul on the cards The State government has announced an infrastructure makeover plan worth Rs 50,000 crore. The prime focus of the development will be stormwater....
DownloadReport Market Movers State revises FSI for residential buildings The Tamil Nadu government revised the Floor Space Index (FSI) for all residential multistorey buildings from 2.5 to 3.25, which can....
DownloadReport Market Movers State to amend stamp duty again After slashing the stamp duty from 6-7 percent to two percent last year, the State has proposed to amend the stamp....
DownloadReport Market Movers AMC approves road repair project Ahmedabad Municipal Corporation’s approval to the road repairing project near 29 BRTS bus stops is expected to improve the area’s accessibility and....