The real estate market in India goes through ups and downs all the time, but there is always a buzz about new projects, interest in growing cities and rekindling of hopes through policy interventions. With 2019 being an election year, the GST rate cut on affordable housing and attractive home loan offers have brightened the prospects for the realty sector. Join us on a ride through cities that promise action.
Delhi, National Capital Region (NCR):-
Despite subdued markets post demonetization towards the end of 2016, housing sales in the NCR rose by 18% during 2018 to 44,300 units from 37,610 units in the previous year. Supply increased by 17% to 26,010 units last year from 22,180 units in 2017; unsold housing stocks declined by 9% to 1, 86,714 units from 2, 05,000 units.Calling it the biggest real estate market in the country, Shapoorji Pallonji has just entered the region with a Rs 1,200 crore housing project on the Dwarka Expressway.
Ranked 16th among the world’s most expensive prime residential real estate markets in the world in 2018, average price per sq mt in the commercial capital of India is Rs 79,000. According to Knight Frank, a significant 128% year-on-year increase in new launches and 1% increase in sales were registered in the first half of 2018. To plan a property purchase here, explore Bajaj Finserv home loans available on Finserv MARKETS.
The IT and start-up boom in this city has fueled demand in the housing segment. According to a CREDAI report, during the second-half of 2018, residential property sale in the city surged by 35% compared to the previous year 2017. The Department of Stamps and Registration has seen a nearly 20% rise in revenue from property registrations in the last seven months of 2018 compared to 2017.
Offering homes with similar features and amenities, priced 40% lower than neighboring Bangalore and Chennai, the potential for a boom in real estate is high. While 25% of fresh launches comprise top-end villas and apartments priced Rs 4 crore plus, the focus is on housing in the Rs 40 lakh-Rs 80 lakh range. So you should check your eligibility for a home loan now.
The residential market has grown 3% year on year in 2018. There were 10,373 launches and sales stood at 15,986; the thrust to sales came from rationalization of prices, which came down a further 3% in the second half of 2012. If you want to pull off a cheap bargain with a quick home loan, connect with the helpful Chabot ‘YARA’ over at Finserv MARKETS.
At a time when conservative affordable homes are in the news, trust Kolkata to chase luxurious architectural marvels and lifestyle statements in residential masterpieces. 2019 has ushered in at least four premium real estate wonders:
Eastern India’s tallest residential tower, “The 42”
Longest Skywalk in a housing project, Siddha Galaxia
A 100-metre wide, four-level club deck straddled 100 metres above the ground in Atmosphere, a super –luxury residential structure inspired by the Bean installation in Chicago and Singapore’s Marina Bay Sands.
The city witnessed a 56% rise in sales to 15,885 units in the first quarter of 2018. Host to IT companies, engineering and automobile manufacturers, the demand for housing is seen in premium, high –end and affordable segments. Micro markets like Wakad, Kothrud, Balewadi, Baner, Hadapsar, Vishrantwadi, Hinjawadi, Bavdhan, Viman Nagar and Kharadi are attractive for buyers with home loans.
The huge inventory of high-end properties in Vesu, New City Light, Pal and Adajan following investments by diamond and textile merchants has reduced. Migrants with home loans are the target of developers of Rs 40 lakh-Rs 60 lakh affordable houses. An Oxford Economics study has predicted that Surat will be the world’s fastest-growing city during 2019-35.
Home to the world famous Taj Mahal, Agra in Uttar Pradesh is seeing a boom in affordable middle-class housing, under the Pradhan Mantri Awas Yojana. It has drawn many mid and top-end developers to the city. A smart city project, development of the Taj Trapezium Zone and Metro Rail is also fueling interest.
As the metro takes shape, this city is giving 20% returns on a property with Pratap Nagar, Amravati Road, Prithviraj Nagar and Wardha Road in demand. Average prices have risen from Rs 3,600 per square foot in April 2015 to Rs 4,300 in June 2018. Nearly 93 localities in Nagpur are showing an upward price trend according to data from 99acres.com.
As a buyer, the best time for you to invest in housing property with a home loan is when the prices are moderate or on a downswing. Post demonetization, the housing market is depressed across the country but the above cities are always a good proposition for investments. Also check pmay eligibility only at Finserv MARKETS.
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