Property registrations in Mumbai hit the 100,000-mark till November, marking a 10-year high as "demand enablers" like low prices and cheaper interest rates lure people to buy homes in India's financial capital. The previous 10-year high was 80,746 units in 2018. November 2021 recorded property sale registrations of 7,582 units: an 18 per-cent decline compared to same month last year (YoY) when stamp duty rate was at its lowest level of two per cent, said property consultant Knight Frank India, quoting data from the Maharashtra government's Department of Registrations and Stamps. Compared to October or a month-on-month (MoM) basis, registrations are lower by 12 per cent.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
Housing prices may rise 5 per cent next year on improved demand, according to Knight Frank India. In its '2022 Outlook Report', the property consultant said: "While 2021 was mostly impacted by the volatility due to the pandemic, 2022 may prove to be a more stable year for the sector both for commercial as well as the residential sector." On the housing segment, the report said that sales momentum is expected to continue in 2022 as prospective homebuyers' preferences for bigger homes, better amenities, and attractive pricing will keep them interested to seal the deals.
Housing demand has breached pre-COVID levels with 92 per cent year-on-year growth in sales during July-September period units across eight major cities, mainly on the back of stable prices, very low mortgage rates, property consultant Knight Frank India said on Monday. Releasing its India Real Estate Update for Q3 (July-September quarter) of the 2021 calendar year, the consultant reported that housing sales increased to 64,010 units from 33,404 units in the same period last year. In the previous April-June quarter, 27,453 residential units were sold. "The total residential sales of the top eight markets under review during Q3 2021, reached 104 per cent of 2019 quarterly average," the consultant said, adding that sales have breached pre-COVID levels.
Prices of residential property in Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a sharp fall in H1-2020 with Kolkata witnessing the steepest drop of 7.5% to Rs 33,433 per square meter. Demand for office space fell the most in Pune and NCR markets at 47% and 45% respectively.
Knight Frank and Royal Institute of Chartered Surveyors in their report said that 10 million homes will be delivered by 2022 as targeted by the government.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
Indiabulls Financial Services on Thursday said leading international real estate consultancy Knight Frank has valued its real estate business at Rs 15,125 crore (Rs 151.25 billion).
In 2012, Knight Frank estimated that prices in Ulwe grow by 50% in three years.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Mumbai continues to be the investment hotspot for the banking and financial sector.
'The Indian retail landscape is poised for a significant shift with the anticipated arrival of several prominent international luxury fashion brands in 2024.'
Mumbai is the 16th most expensive city for residential space.
Launch of new residential projects in top eight cities -- Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, National Capital Region (NCR) and Pune -- came down by 41 per cent in first half of 2017.
Let's take a look at some of the markets that saw biggest increase in residential property prices.
.jpg)
Housing prices in India fell 1.7 per cent during the April-June quarter due to poor demand amid subdued economic conditions and there are no signs of recovery, real estate consultancy Knight Frank said.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
The average housing prices declined by 2-7 per cent year-on-year during July-September in Delhi-NCR, Mumbai, Chennai, Pune, Kolkata, and Ahmedabad on lower demand amid COVID-19 pandemic, according to Knight Frank India. Prices, however, increased in Bengaluru and Hyderabad by 3 per cent and 4 per cent, respectively, during July-September 2020 compared with the year-ago period. Chennai saw the maximum fall of 7 per cent, followed by Delhi-NCR and Pune at 5 per cent. Rates dipped 3 per cent each in Kolkata and Ahmedabad, while Mumbai witnessed 2 per cent price correction.
The Knight Frank Global House Price Index rose by 0.9 per cent in the year to March 2012. Knight Frank is a global residential and commercial property consultancy.
Mumbai recorded a 4x growth in property registrations on a yearly basis in June this year, as restrictions imposed by the state government ended. Mumbai and its suburbs recorded property registrations of 7,857 units in June, compared to 1,839 units registered in June 2020. The registrations for June were also 39 per cent higher, compared to the same month in the pre-pandemic period of June 2019, said a new report by Knight Frank India.
Roiled by the pandemic, home prices in India fell 3.6 per cent in December quarter 2020, pushing down its global ranking to the lowest 56th as compared to 43rd in the year-ago period, while Turkey continued to lead the tally, says a report. According to international property consultancy Knight Frank, India was the weakest-performing housing market in October-December last year with a decline of 3.6 per cent year-on-year in prices. The Knight Frank global house price index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics.
Global property consultancy firm, Knight Frank India, has said that prices in the residential property segment are likely to decline in a short time.
Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the Covid pandemic with gross leasing witnessing a 3 per cent fall, according to Knight Frank India. Housing sales increased to 232,903 units during last year, from 154,534 units in 2020, but demand was down 5 per cent from the 2019 pre-pandemic levels and 37 per cent lower than the 2011 peak numbers. In the office segment, the gross leasing of office space fell to 38.1 million square feet in 2021, from 39.4 million square feet in the previous year, due to the adverse impact of the second wave of the Covid pandemic.
The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
An interview with Kekoo Colah, executive director of Knight Frank (India) Pvt Ltd.
Indian property market and its regulations need to be reformed further to attract foreign direct investment while the demand for space for business process outsourcing is expected to cross over two crore square feet in the next three-five years.
Residential house prices have only risen since the pandemic.
According to Knight Frank Research, 1.07 million sq ft of office space was transacted in Q4 FY13, thus showing a fall of 11 per cent compared to the same quarter last year.
Sharma was the president of the conference, the first since the Paris Agreement of COP21 that expected parties to make enhanced commitments towards mitigating climate change.
The sentiment in the real estate industry turned optimistic during October-December 2020 and the outlook for the next six months is positive on the back of revival in demand for both residential and office properties, according to a survey by Knight Frank India-FICCI-Naredco. The 27th edition of 'Real Estate Sentiment Index Q4 2020 survey' of developers, banks, financial institutions and private equity players operating in the sector was released on Monday in a video-conference. As per the report, the 'Current Sentiments Score', for the first time in 2020, entered the optimistic zone at 54 points in Q4 (October-December) 2020, a significant jump of 14 points over the previous quarter.
As per a Knight Frank FICCI Naredco report, a majority 69% of the stakeholders say that the residential sales will remain tepid or may even go down further in the coming six months.
The Indian office real estate market, which had recovered significantly in early 2022, began to slow down in the latter half due to macroeconomic problems in the developed world. Rental yields are likely to be stable at best in FY24.
A recent survey discovered that Bengaluru has some of the classiest high streets in our country.
Despite being election year, Indian ultra HNIs are more optimistic of the country's growth journey and expect wealth to increase in the year 2019.
Prospective buyers must make a well-considered decision regarding whether this is the right time to buy a house, particularly with home loan rates at near-peak levels, and the risk of job losses looming in many sectors.
The e-commerce sector's usage of commercial spaces was about 4.2 million square feet of the total of 17.5 million sq ft consumed in the first half of 2015.
Prices in Bengaluru, the National Capital Region, Hyderabad and Ahmedabad, however, witnessed an uptick during the period.
Let's see some of the hottest property prices around the world.
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances