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Afforadable Homes
Realtors' apex body CREDAI described the RBI decision to cut repo rate by 50 basis points as a bold step and said this will help boost sales of residential properties. Hailing the decision, CREDAI President Shekhar G Patel said the RBI decision will improve consumers' sentiment, immensely benefitting mid-income and affordable housing segments, which have been struggling in the last few years. "We welcome the RBI's decision and view it as a bold and timely step toward stimulating domestic demand," Patel said. This decision comes at a pivotal time, as India is witnessing strong real estate momentum across metros as well as Tier 2 and Tier 3 cities. "Lower lending rates will directly enhance home loan affordability, particularly in interest-sensitive categories like mid-income and affordable housing. Reduced EMIs are expected to significantly improve buyer sentiment and encourage first-time homebuyers to enter the market," Patel added. The cumulative 100 basis point reduction over t
The residential real estate market in the city and its neighbourhood has commenced 2025 on a positive note with a strong recovery and increasing buyer confidence, a report by the industry body CREDAI said. Sharp growth in registrations, steady sales of the residential units and a resilient housing market has emerged in the January-March 2025 period, the study prepared by the Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai said on Sunday. Projects nearing completion or ready-to-occupy continued to be the preferred choice among buyers, it said. The recent reduction in the repo rate by the Reserve Bank of India and the Central government's revised income tax slabs has further supported buyer sentiment, particularly among first time buyers, the report said. Sales of residential units grew 7 per cent quarter on quarter to 3,783 units during the three month period while it was 27 per cent growth year-on-year. Southern suburbs accounted for the majority of
The expansion of the metro rail network, installation of 84,000 CCTV cameras, development of over 700 km of cycle tracks, and construction of 88 lakh houses in cities were key focus areas for the Union Housing and Urban Affairs Ministry in 2024. Besides, the ministry launched several initiatives under the Smart Cities Mission (SCS), Swachh Bharat Mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) -- flagship programs of the Narendra Modi government. As of November 15, 13 out of 100 smart cities have successfully completed all their projects, while 48 cities have achieved over 90 per cent completion. Over 84,000 CCTV surveillance cameras have been installed, and 713 km of cycle tracks have been developed across the 100 smart cities so far. According to the ministry, 23 smart cities have completed more than 75 per cent of their projects, and 714 ongoing projects, totalling Rs 17,303 crore, are currently in the implementation phase. Recently, Union Ministe
India is estimated to have a cumulative affordable housing shortage of 31.2 million units by 2030 with a potential market size of Rs 67 trillion, according to a joint report by CII and Knight Frank. Industry body CII and real estate consultant Knight Frank India on Wednesday released a joint report 'Affordable Housing in India' at a conference here, pointing out that there is already an existing shortage of 10.1 million units. Addressing the event, Ghulam Zia, Senior Executive Director, Research, Advisory, Infrastructure & Valuation at Knight Frank India, pointed out the shortage of affordable housing in India, presenting a huge business opportunity for real estate developers. "The cumulative Affordable housing shortage in India is projected to reach 31.2 million by 2030, with the market size estimated at Rs 67 trillion," he said. The affordable housing segment also could provide a lot of opportunities for financial institutions. "Based on the assumption of a 77 per cent loan ...
Housing sales rose 5 per cent annually during July-September to 87,108 units in eight major cities as demand stayed strong for premium homes, according to Knight Frank India. Real estate consultant Knight Frank India on Thursday released its report 'India Real Estate' for the third quarter of 2024 calendar year through a webinar, showing a modest increase in housing sales in contrast to data provided by Anarock and PropEquity which reported drop in total sales during July-September across major cities. "Momentum in the residential market has trended up well in 2024 with Q3, 2024 recording the highest quarterly sales this year at 87,108 units," the report said. Addressing a virtual press conference, Knight Frank India CMD Shishir Baijal said, the growth in housing sales is driven by demand for premium housing costing above Rs 1 crore each. "There are concern in affordbale housing segment," Baijal said, adding that sales in this category have declined due to availability and ...
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore. "We are very bullish on housing demand. We are targeting to achieve sales of Rs 6,000-6,500 crore this financial year," Sattva Group MD Bijay Agarwal said. He said the company would invest Rs 12,000-14,000 crore over the next three years to build housing, office and hotel projects. The bulk of the investments would be to develop housing projects and office complexes. Sattva Group is one of the leading real estate developers in India with a significant presence in South India. It has completed 140 projects comprising 80 million square feet area in the last 30 years. Around 23 million square feet are under construction, and 65 million square feet are in the pipeline. Agarwal