Page 4 - Housing Sales

Housing sales down 11% in Jul-Sept, avg prices up 23% in 7 cities: Anarock

Housing sales fell 11 per cent during July-September to 1.07 lakh units in seven major cities on lower launches and an annual 23 per cent growth in average prices, according to Anarock. Real estate consultant Anarock on Thursday released data that showed an 11 per cent fall in sales of residential properties in July-September to 1,07,060 units from 1,20,290 units in the year-ago period. Anarock Chairman Anuj Puri said, "All the top cities individually recorded a dip in housing sales." The top 7 cities witnessed a drop of 19 per cent in new housing supply, with 93,750 units launched in July-September 2024 against 1,16,220 units in the corresponding period in 2023. "Nevertheless, the fact that sales remained higher than launches indicates that the demand-supply equation remains robust," Puri said. He pointed out that housing sales in the third quarter tapered down amid high prices and the monsoon season. "As always in this period, the 'shraad' period also suppressed demand to an ex

Indian real estate mkt to jump manifold by 2047, to touch $10 trn: Report

Housing demand in Indian real estate market continues to be strong with no signs of slowdown and there is a need to boost supply to meet the requirements, according to realtors' apex body CREDAI. The association said that housing sales in any particular quarter could fall due to lesser number of launches, but consumer demand that has surged post COVID pandemic remains intact. CREDAI is holding its flagship conference 'CREDAI NATCON' here during September 23-26 being attended by more than 1,100 delegates. When asked about estimated fall in sales during the current quarter, CREDAI National Chairman Manoj Gaur said the new launches have been lower in the September quarter. "There is no inventory. There is a huge demand for residential properties from good developers at right locations and attractive prices," Gaur told reporters here. He was replying to a query about PropEquity latest data which estimates 18 per cent fall in sales across nine major cities to 1,04,393 units during ...

Ashiana Housing sells properties worth Rs 403.49 cr in Gurugram project

Realty firm Ashiana Housing has sold 168 apartments for Rs 403.49 crore in its residential project in Gurugram on strong consumer demand. In a statement on Wednesday, Ashiana Housing Ltd said that the company has sold 168 apartments in the fourth phase of its kid-centric project 'Ashiana Amarah'. "On Day-1, 168 out of a total of 280 units in Phase 4 have been booked, representing a remarkable sale value of Rs 403.49 crore. The total saleable area for Phase 4 covers 4.95 lakh square feet, featuring premium 3 BHK units," it added. The total project is spread over 22 acres. "The successful booking of 168 units out of 280 within such a short span highlights the growing appeal of our kid-centric homes. Our commitment to creating family-friendly environments that foster the growth and development of children continues to resonate strongly with our customers," Ankur Gupta, joint managing director of Ashiana Housing, said. Ashiana Housing Ltd, established in 1979, has a presence across 9

Murdoch's REA considering bid for UK housing property portal Rightmove

Shares of REA dropped 5.3 per cent in Sydney, the most since December 2022, on Monday amid concerns that it may have to issue stock to fund a deal

Housing sales in MMR likely to cross Rs 1.35 trillion this year: Report

Housing sales in Mumbai Metropolitan Region (MMR) primary residential market are expected to cross Rs 1.35 lakh crore this calendar year, according to JLL India. Real estate consultant JLL India on Thursday released its report 'Mumbai Residential Market-Through the Lens of Time' at the National Real Estate Development Council (NAREDCO) event held here. The consultant noted that Mumbai's resilient residential market continues its onward strides with significant growth in sales and new launches. The MMR continues to attract substantial real estate investments, exemplified by record-high sales values and strategic infrastructure developments. "As infrastructure projects continue to enhance connectivity and create new residential hubs, we foresee Mumbai's market not only maintaining its momentum but also setting new benchmarks in the coming years," said Prashant Sharma, President, NAREDCO-Maharashtra. Mumbai includes Mumbai city, Mumbai suburbs, Thane city and Navi Mumbai. Residential

Protests on rise in China amid sluggish economy, housing crisis: Report

Country records 18% rise in dissent cases in 2nd quarter of this year

NeoLiv ties up with Royal Green Realty to develop Rs 600 cr housing project

Real estate firm NeoLiv has tied up with Royal Green Realty to jointly develop a 20-acre housing project at Kundli-Sonipat in Haryana with an estimated revenue potential of more than Rs 600 crore. The company on Tuesday announced its entry into the North India market through a joint development partnership with Royal Green Realty. The residential project, located in Kundli-Sonipat Master Plan, will be spread over a 20-acre area. "The 20-acre development with a gross development value of Rs 600 crore+ will feature premium villas, independent floors, custom-designed plots and an internationally designed clubhouse," NeoLiv said in a statement. Mohit Malhotra, Founder and CEO of NeoLiv, said, this acquisition represents a significant milestone for NeoLiv, as we announce our first project in the NCR region. "Backed by UHNI (ultra high net worth individual) investors through our SEBI-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are ...

Keystone Realtors eyes 32% growth in housing sales this year: CMD

Keystone Realtors has set a target of 32 per cent growth in its sale bookings this fiscal to Rs 3,000 crore on strong housing demand and is hopeful of crossing this number, its Chairman and Managing Director Boman Irani said. Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in Mumbai Metropolitan Region (MMR). In an interview with PTI, Irani -- who is also president of realtors' apex body CREDAI -- noted that the demand in the housing market continues to be strong, encouraging the company to invest more in land acquisition and construction activities. "We have a dry powder of around Rs 3,000 crore to make investments for growth. We raised Rs 800 crore from qualified institutional placement (QIP) plus our internal cash flow," he said. Asked about the sale bookings outlook, Irani said, "We are targeting to achieve Rs 3,000 crore pre-sales this fiscal. We will cross that ...

The House of Abhinandan Lodha to invest Rs 1,800 crore, says chairman

Realty firm The House of Abhinandan Lodha -- which is into development of residential plots -- will invest Rs 1,800 crore this fiscal year on purchase of land and construction of projects as part of its expansion plan, a top company official said. Mumbai-based The House of Abhinandan Lodha, which was formed in 2021, has already launched nearly 10 plotted development projects covering 650 acres in Maharashtra, Goa, and Ayodhya in Uttar Pradesh. In an interview with PTI, the company's Chairman Abhinandan Lodha noted that the demand for housing plots has been very strong post-COVID pandemic. "We have launched more than 6,000 plots in the last three years and we plan to launch more than 2,000 plots by end of this calendar year," he said. Asked about investment plan for the current fiscal, Lodha said, "The total capital expenditure outlay for 2024-25 fiscal is around Rs 1,800 crore of which Rs 550 crore will be on construction and the remaining on land buying." He said the company is n

Economic Survey says need for 'viable, cost-effective' housing in India

Going forward, the demand for housing is expected to be driven by affordability and increased access to credit, it said

China's June new home prices fall at fastest pace in 9 years, shows data

New home prices were down 4.5 per cent from a year earlier, hitting the lowest since June 2015, deeper than a 3.9 per cent slide in May, according to Reuters calculations based on NBS data

Lok Sabha elections cool down home sales in April-June quarter: Report

Consumer sentiment still 'extremely positive' about real estate investments, it says

Housing sales in top 8 cities decline by 6% in Apr-Jun: PropTiger

Housing sales across the top eight cities declined 6 per cent in the April-June period compared with the preceding quarter as builders and investors were cautious due to Lok Sabha polls, according to PropTiger. Property brokerage platform PropTiger, which is part of REA India that owns Housing.com, on Thursday released its quarterly data on housing demand and supply. As per the data, housing sales fell 6 per cent to 1,13,768 units during the April-June period from 120,642 units in the preceding January-March quarter. However, the housing sales rose 42 per cent in April-June from 80,245 units in the year-ago period. "Demand for homes moderated during the April-June period on account of the general elections even though consumer sentiment continues to remain extremely positive about real estate investments on the back of strong fundamentals," said Vikas Wadhawan, Group CFO, REA India, and Business Head, PropTiger.com. The developer community, too, exercised caution, as evidenced by

Housing sales up 11% in FY24 in top 30 Tier-II cities: PropEquity

Rise in housing demand is not restricted to major cities as sales of residential properties rose 11 per cent last fiscal across 30 Tier II towns to nearly 2.08 lakh units, according to PropEquity. Real estate data analytic firm PropEquity on Friday released a report on Tier II cities' housing market. The data showed that housing sales increased 11 per cent to 2,07,896 units in 2023-24 as against 1,86,951 units in the preceding financial year. Top 10 Tier II cities -- Ahmedabad, Vadodara, Surat, Nashik, Gandhi Nagar, Jaipur, Nagpur, Bhubaneshwar, Visakhapatnam and Mohali-- contributed 80 per cent to the total sales in 30 small towns. These 10 cities together clocked sales of 1,68,998 residential units in 2023-24, up 11 per cent from 1,51,706 homes in 2022-23. The other 20 Tier II cities are Bhopal, Lucknow, Goa, Coimbatore, Raipur, Vijayawada, Indore, Kochi, Trivandrum, Mangalore, Guntur, Bhiwadi, Dehradun, Ludhiana, Chandigarh, Agra, Mysore, Sonepat, Panipat and Amritsar. Samir .

Real estate stocks strategy: Do not cash out fully, say analysts

residential sales across the top seven cities (National Capital Region, Mumbai Metropolitan Region, Bengaluru, Pune, Hyderabad, Chennai and Kolkata) slipped 8 per cent quarter-on-quarter in Q1-FY25

Sattva Group targets 85% growth in housing sales this fiscal: MD Agarwal

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

Home sales in India cool down after two years on high base, rising prices

Home prices in major cities increased 7% in April-June compared to quarter before, according to Anarock data

Housing sales likely to decline 2% in Apr-June across top 9 cities

Housing sales are estimated to decline 2 per cent to nearly 1.20 lakh units in the current quarter across nine major cities, mainly due to lower demand in Hyderabad and Pune, according to PropEquity. Real estate data analytic firm PropEquity on Thursday released housing sales data for April-June, 10 days before the end of the quarter. As per the data, housing sales in April-June are estimated to fall at 1,19,901 units as against 1,21,856 units in the year-ago period. In Delhi NCR, sales of residential properties are likely to rise to 10,198 units during April-June this year from 9,635 units in the year-ago period. Housing sales in Bengaluru are likely to rise to 15,127 units from 15,088 units. In Chennai, the sales are likely to fall to 4,841 units from 4,950 units. Sales in Hyderabad are estimated to decline 20 per cent to 15,016 units from 18,757 units. In Kolkata, sales are likely to rise to 5,130 units from 4,025 units. Housing sales in Mumbai are estimated to fall marginal

Godrej Properties sells 650 flats for Rs 2K cr in Noida amid strong demand

Realty firm Godrej Properties Ltd on Thursday said it has sold around 650 flats in Noida for more than Rs 2,000 crore, amid strong consumer demand for residential properties. In a regulatory filing, Godrej Properties informed that it has "sold around 650 homes worth over Rs 2,000 crore in its project, Godrej Jardinia, located in Sector 146, Noida." The project was launched in May 2024. "This is Godrej Properties' most successful-ever launch in Noida in terms of the value of sales achieved," the company highlighted. Gaurav Pandey, MD & CEO, Godrej Properties, said, " Noida is an extremely important market for Godrej Properties, and we will look to further strengthen our presence in the city in the years ahead." Godrej Properties is one of the leading real estate developers in the country. It has a major presence in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune and Bengaluru property markets.

China's housing rescue is too small to end ongoing crisis, say analysts

The decline in China's sales of new homes accelerated in recent months, with households increasingly preferring to buy in the secondary market