'Developers are into profit-making. And there's not too much money in the affordable segment.' 'So, they don't do affordable housing.'
'Though one cannot paint the entire microcap basket with the same brush, investors need to be careful now as to what they're buying.'
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
As PM talks of lower lending rates, housing companies prepare to cash in.
About 5.5 million users are looking for real estate online in India
Bengaluru's average home prices are Rs 4,000 a sq ft.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
Despite a 56 per cent fall in residential launches in the first half of the year compared to the second half of 2019, Anarock Property Consultants believes that consolidation in residential real estate is expected to gain ground, and that branded players may garner a market share of 75-80 per cent.
In the 2017 budget, the government accorded infrastructure status for affordable projects to help such projects raise loans at lower rates
Bengaluru-based developers, such as Puravankara Limited and Sowparnika Projects, have witnessed over 85-90 per cent of their customers being first time buyers or end users.
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