Sales of affordable homes in India declined, while Mumbai’s demand for high-priced homes increased by 49 percent, know details


real estate: There has been a decrease of about 20 percent in the demand for affordable houses in India. It is being told that real estate consultant Anarock said that out of 2.29 lakh units sold in seven major cities of India in the first half of this year, only 20 percent or about 46,650 apartments were affordable houses, which cost less than Rs 40 lakh. Anarock Research data shows that of the 1.84 lakh homes sold in the year-ago period, the share of affordable houses was 30 per cent or 57060 units. At the same time, the sale of houses priced above Rs 10 crore in Mumbai has increased by 49 percent during the first six months of January-June of the current year. This figure was Rs 11,400 crore in terms of value.

Demand for 10 crore house increased

This information has been given in the report of India Sotheby’s International Realty and CRE Matrix. According to the report, the total sale of houses above Rs 10 crore was Rs 7,660 crore during the same period a year ago. The report said that the demand for luxury apartments in Mumbai came mainly from industrialists, Bollywood celebrities and high-salaried employees. India Sotheby’s International Realty Managing Director Amit Goyal said that the boom in the sale of luxury houses in the first half is positive from the industry’s point of view.

Low margin changed the interest of builders

Anuj Puri, chairman of Anarock Group, says that there has been a big impact on the sale of abandoned houses. The share has come down to only 20 percent. However, the cost of land has increased considerably. Builders are not taking interest in building houses with low margins due to the rise in the prices of land and other goods. Due to being good, they are paying more attention to mid range, premium and luxury housing projects. This has directly affected the projects. At the same time, due to this, the supply of affordable houses has also slowed down.

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Demand for industrial-warehousing sites decreased by 12 percent in the first quarter

In the first quarter (April-June) of the current financial year in five major cities of the country, the demand for leased industrial and warehousing sites has decreased by 12 percent on an annual basis to 40 lakh square feet. Real estate consulting firm Colliers India has given this information. The overall demand has declined mainly due to decrease in demand in Delhi-NCR and Chennai. Colliers India has released the report on the Indian Industrial & Warehousing Market for April-June, 2023. According to this, the demand for these sites on lease in the major five cities in April-June has decreased by 44 percent as compared to the previous quarter. As per the data, the demand for industrial and warehousing sites in Pune increased by 15 per cent to 10 sq.ft. In Mumbai too, demand increased by 12 per cent to nine lakh sq ft in the first quarter of the current financial year. In Bengaluru, the demand during the period under review increased by 17 percent to reach seven lakh sq. feet. However, there was a decline in demand in Chennai and Delhi-NCR. While demand in Delhi dropped by 49 per cent to 7 lakh sq ft, in Chennai it fell by 28 per cent to 7 lakh sq ft.

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