Page 2 - Anarock Property

Union Budget 2024-25 brings high expectations for real estate sector

Expectations are high as the Modi 3.0 government prepares to unveil reforms aimed at boosting housing, office spaces, and commercial areas amid rising demand

Anarock FY24 revenue surges 36% to Rs 566 crore on higher earnings

Real estate consultant Anarock Group has posted a 36 per cent increase in its revenue to Rs 566 crore in the last fiscal, helped by better earnings from housing brokerage and other services. During 2022-23, the company posted a revenue of Rs 416 crore. Homegrown Anarock was established by Anuj Puri in April 2017 after serving as country head for 10 years in an international property consultancy firm. In an interview with PTI, Anarock Chairman Puri said, "Real estate markets, particularly residential, across cities, are doing well with sales and launches at a 15-year high." Inherently, he said, this is being driven by a younger working population wanting to buy their first home rather than rent it. "...we are benefiting from this phenomenal growth in housing sales, having established our tech and digital platform," Puri said. All major business verticals contributed to the revenue growth last fiscal, he said. These include housing brokerage, retail, land, capital markets, strateg

PE deal value in Indian real estate down 30% from 2019-20: Anarock

Anarock report also noted that while the number of deals in FY24 increased to 49 from 48 in FY20, the aggregate deal value has decreased due to a significantly lower average deal size

Pvt equity investment in realty dips 16% in FY23-24 to $3.67 bn: Anarock

Private equity funding in the real estate sector fell 16 per cent last fiscal to USD 3.67 billion on lower interest from foreign investors, according to Anarock. In its report, Capital FLUX, real estate consultant Anarock pointed out that the private equity (PE) deals in Indian real estate have declined to USD 3,674 million in 2023-24 from USD 4,358 million in the previous year. The PE inflow in real estate stood at USD 5,138 million in 2019-20, USD 6,377 million in 2020-21, USD 4,236 million in 2021-22 financial year. "The decline in PE investments in Indian real estate has been due to lower activity by foreign investors, due to global macro-economic factors and geopolitical instability," said Shobhit Agarwal, MD & CEO of Anarock Capital. The share of foreign capital in total investments declined to 65 per cent in FY24, against 76 per cent in the previous year. As per the report, PE investments by domestic investors have increased to 29 per cent of the total capital inflows into

31 million jobs created in real estate under Modi government: Report

The measures taken, it says, can catapult the size of the Indian real estate market from $20 billion in 2017 to an estimated $1 trillion by 2030

7 major cities see annual 8% rise in completion of housing units: Anarock

India's seven major cities witnessed an annual 8 per cent rise in the completion of housing units last year at 4.35 lakh units as developers' cash flows improved on better sales, according to Anarock. Real estate consultant Anarock data showed that 4,35,045 units were completed during last year, as against 4.02 lakh units in the previous year. The data pertains to the primary (first sale) residential market. In Mumbai Metropolitan Region (MMR), 1,43,500 housing units were completed last year, up 13 per cent from 1,26,720 units in the previous year. The completion of housing units in Delhi-NCR rose 32 per cent to 1,14,280 units, as against 86,300 units in 2022. "The Indian residential sector is unlikely to forget 2023, which was nothing less than phenomenal at every level. Housing sales breached the previous peak levels of 2022 and remain robust in 2024. These sales statistics - along with RERA-related commitments - have encouraged developers to stay focused on completing existing

Relief to homebuyers: Allotted houses to stay out of liquidation, says IBBI

12 key changes to overall regulations introduced to ensure transparency

Avg flat size expands 11% in 2023, demand rises for bigger homes: Anarock

Builders are constructing bigger homes to meet consumers' demand as the average size of flats rose 11 per cent last year across seven major cities, according to Anarock. Real estate consultant Anarock has analysed the fresh supply of housing units during 2023 across the primary residential market of seven major cities. The data showed that average flat sizes in the top 7 cities rose to 1,300 square feet last year from 1,175 square feet in 2022. In the Mumbai Metropolitan Region (MMR) and Kolkata, the average size of apartments fell, but it grew in Delhi-NCR, Bengaluru, Hyderabad, Pune and Chennai in 2023. The average size stood at 1,050 square feet in 2019, 1,167 sq ft in 2020, and 1,170 sq ft in 2021. "Northbound housing prices in the top cities have in no way dispelled the demand for generous living spaces," Anarock Chairman Anuj Puri said. The supply of bigger luxury homes increased significantly last year, he said, adding that around 23 per cent of the total new launches were

Anarock revenue may rise 30% to Rs 575 cr in FY24 on strong housing demand

Property consultant Anarock is expecting a 30 per cent growth in its revenue this fiscal year to around Rs 575 crore mainly driven by strong housing sales, its Chairman Anuj Puri said. Anarock, one of the leading real estate consultancy firms in India, was established by Puri in April 2017. "Our revenue will easily cross Rs 550 crore this financial year and may touch Rs 575 crore," Puri told PTI. Out of the total estimated revenue in 2023-24 fiscal, he said around Rs 400 crore will come from sales of residential properties on behalf of builders. Puri said residential sales in primary market (first sale) touched an all-time high in 2023 calendar year. The demand remains strong across all price points. "We expect demand to sustain in 2024 and beyond," he said, but cautioned that sales would be hit in case of abnormal price rise. Puri said the company also expects significant revenue from consultancy services in non-residential segments like leasing of retail and warehousing spaces

Brigade Enterprises expects robust broad-based growth in next few quarters

Under real estate, Brigade caters to both residential and commercial spaces. Brigade provides the largest commercial space in Bengaluru at 3.5 million square feet

Retired comfortably: Old age homes that are worth the investment

Such properties are designed for the elderly and give them company and security

Luxury homes see highest average price appreciation since 2018: Anarock

Hyderabad recorded the highest jump of 42 per cent in the average price of luxury homes between 2018 and the first six months of 2023

Property registrations in Mumbai fell 12% to 9,923 units in June: Anarock

Mumbai real estate sector is likely to witness a momentary slowdown in the next few months, but the long-term direction remains upward, said Anarock

Net debt of top 8 listed realty firms dip 43% in last 3 years: Anarock

The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock. Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country's leading large and listed developers to reduce their debt. Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate. These developers are DLF, Macrotech Developers (Lodha brand), Godrej Properties, Prestige Estates Projects, Sobha, Brigade Enterprises, Puravankara and Mahindra Lifespace Developers Ltd. Net debt of top eight listed developers has reduced from Rs 40,500 crore in FY20 to over Rs 23,000 crore in FY23. The average cost of debt for these eight players fell to 9 per cent in FY23 from 10.3 per cent in FY20. In 2020-21, the interest cost was 9.05 per cent, while the cost of debt was 7.96 per

Buyer preference for bigger, premium homes is big win for these 11 builders

The 11 large and listed realtors in the sample set are Brigade Enterprises, DLF, Godrej Properties, Kolte-Patil Developers, Macrotech Developers, Mahindra Lifespace Developers, Oberoi Realty, Prestige

Hyderabad offered highest new office space in India in 2022-23: Anarock

At the end of FY23, Hyderabad accounted for a 31 per cent share of the total office space supply in the top seven Indian cities

Commercial real estate lull to continue for at least 2 years: Anarock

MUMBAI (Reuters) - The ongoing lull in Indian commercial real estate will likely continue for at least two more years, though it was not clear when the sector would see a full recovery, the chairman of property consulting company ANAROCK said on Tuesday.

Realtors closed 87 land deals totalling 1,862 acre in FY23: Anarock

Real estate developers remained active on land acquisition for future development and they closed at least 87 land deals totalling 1,862 acres during the last fiscal year, according to Anarock. During the previous year 2021-22, real estate consultant Anarock noted that 44 land deals accounting for about 1,649 acres were closed across various cities. Anarock Chairman Anuj Puri noted that size of the deals were smaller in the 2022-23 fiscal as compared to the previous year. Of all deals closed in FY23, at least 76 accounting for about 1,059 acres were in seven major cities, and the remaining 11 deals accounting for 803 acres took place in Tier 2 and 3 cities including Ahmedabad, Kurukshetra, Lucknow, Nagpur, Panchkula, Panipat, Raigad and Surat. Among the top seven cities, Mumbai Metropolitan Region (MMR) saw the maximum 25 land deals accounting for over 267 acres, followed by Delhi-NCR with 23 land deals totalling 274 acres. In terms of total land transacted, Chennai saw maximum at

Bengaluru's housing rent grow over 20% Y-o-Y in Q1 2023: Anarock report

Anarock found that Thanisandra Main Road and Marathahalli-ORR in Bengaluru recorded the highest residential rental values growth by 24 per cent each

Private Equity inflow in real estate stable at $4.2 bn in FY23: Anarock

Private equity investment in real estate remained stable in the last fiscal at USD 4.2 billion, of which 22 per cent contribution came from domestic investors, according to Anarock. Delhi-NCR market received 32 per cent of the total investment, while office assets garnered 40 per cent of inflows. Foreign investors' contribution stood at more than 75 per cent. Real estate consultant Anarock's arm Anarock Capital in its report FLUX has tracked capital flows in the sector during 2022-23 financial year ended March. Private Equity (PE) investments have remained stable during 2022-23 at USD 4.2 billion. PE inflows stood at USD 4.2 billion in 2021-22, USD 7.2 billion in 2020-21, USD 6.3 billion in 2019-20, and USD 5.3 billion in 2018-19, the report showed. Domestic investors were significantly more active in FY23, with investment value increasing by 50 per cent in FY23 (USD 0.9 billion) over FY22 (USD 0.6 billion). Inflows from foreign investors declined 7 per cent to USD 3.2 billion i