Property in Noida

Property DetailsLocalityPrice (per Sqft)₹ 1.75 Crore, 2890 sq.ft.( 268.49 sq.m. ), 4 BHK Residential Apartment in Sector-79 NoidaCivitech Stadia , Sector-79 Noida ₹ 6,056/sq.ft.View₹ 5.75 Crore, 300 sq.m.( 299.98 sq.m. ), 7 Bedroom Independent House in Sector-30 NoidaSector-30 Noida ₹ 17,806/sq.ft.View₹ 1.51 Crore, 2511 sq.ft.( 233.28 sq.m. ), 4 BHK Residential Apartment in Sector-75 NoidaIvy County , Sector-75…

Property DetailsLocalityPrice (per Sqft)₹ 1.75 Crore, 2890 sq.ft.( 268.49 sq.m. ), 4 BHK Residential Apartment in Sector-79 NoidaCivitech Stadia , Sector-79 Noida

₹ 6,056/sq.ft.

View₹ 5.75 Crore, 300 sq.m.( 299.98 sq.m. ), 7 Bedroom Independent House in Sector-30 NoidaSector-30 Noida

₹ 17,806/sq.ft.

View₹ 1.51 Crore, 2511 sq.ft.( 233.28 sq.m. ), 4 BHK Residential Apartment in Sector-75 NoidaIvy County , Sector-75 Noida

₹ 6,000/sq.ft.

View₹ 99.36 Lac – 1.27 Crore, 1656 – 2124 sq.ft.( 153.85-197.33 sq.m. ), 3 BHK Residential Apartment in Sector-75 NoidaIvy County , Sector-75 Noida

₹ 6,000/sq.ft.

View₹ 1.97 Crore, 2890 sq.ft.( 268.49 sq.m. ), 4 BHK Residential Apartment in Sector-79 NoidaCivitech Stadia , Sector-79 Noida

₹ 6,800/sq.ft.

View₹ 59 Lac – 82.65 Lac, 759.93 – 1117.51 sq.ft.( 70.51-103.77 sq.m. ), 3 BHK Residential Apartment in Sector-143 NoidaSKA Orion , Sector-143 NoidaView₹ 1.64 Crore, 2350 sq.ft.( 218.32 sq.m. ), 3 BHK Residential Apartment in Sector-150 NoidaATS Kingston Heath , Sector-150 NoidaView₹ 2.31 Crore, 3300 sq.ft.( 306.58 sq.m. ), 4 BHK Residential Apartment in Sector-150 NoidaATS Kingston Heath , Sector-150 NoidaView₹ 2.48 Crore – 2.48 Crore, 3302 – 3312 sq.ft.( 306.77-307.69 sq.m. ), 3 BHK Residential Apartment in Sector-108 NoidaParx Laureate , Sector-108 Noida

₹ 7,500/sq.ft.

View₹ 4.23 Crore – 4.23 Crore, 2782.4 – 2784 sq.ft.( 258.46-258.64 sq.m. ), 4 BHK Residential Apartment in Sector-144 NoidaGulshan Dynasty , Sector-144 Noida

₹ 15,201/sq.ft.

View₹ 3 Crore – 3.66 Crore, 3995 – 4874 sq.ft.( 371.15-452.81 sq.m. ), 4 BHK Residential Apartment in Sector-108 NoidaParx Laureate , Sector-108 Noida

₹ 7,500/sq.ft.

View₹ 3.91 Crore – 4.45 Crore, 5220 – 5930 sq.ft.( 484.95-550.91 sq.m. ), 5 BHK Residential Apartment in Sector-108 NoidaParx Laureate , Sector-108 Noida

₹ 7,500/sq.ft.

View₹ 1.9 Crore – 3.45 Crore, 2448 – 4455 sq.ft.( 227.43-413.88 sq.m. ), 4 BHK Residential Apartment in sector-121 NoidaABA Cleo County , sector-121 Noida

₹ 7,750/sq.ft.

View₹ 1.05 Crore – 1.6 Crore, 1350 – 2070 sq.ft.( 125.42-192.31 sq.m. ), 3 BHK Residential Apartment in sector-121 NoidaABA Cleo County , sector-121 Noida

₹ 7,750/sq.ft.

View₹ 6.25 Crore – 16.36 Crore, 3150 – 8245 sq.ft.( 292.64-765.99 sq.m. ), 4 Bedroom Independent House in Sector-150 NoidaATS Pristine Golf Villas , Sector-150 Noida

₹ 19,841/sq.ft.

View₹ 64.4 Lac – 77.05 Lac, 1400 – 1675 sq.ft.( 130.06-155.61 sq.m. ), 3 BHK Residential Apartment in Sector-150 NoidaATS Pious Hideaways , Sector-150 Noida

₹ 4,600/sq.ft.

View₹ 1.06 Crore, 1920 sq.ft.( 178.37 sq.m. ), 4 BHK Residential Apartment in Sector-143B NoidaSikka Karnam Greens , Sector-143B Noida

₹ 5,500/sq.ft.

View₹ 69.03 Lac – 81.4 Lac, 1255 – 1480 sq.ft.( 116.59-137.5 sq.m. ), 3 BHK Residential Apartment in Sector-143B NoidaSikka Karnam Greens , Sector-143B Noida

₹ 5,500/sq.ft.

View₹ 1.15 Crore – 1.21 Crore, 849 – 890 sq.ft.( 78.87-82.68 sq.m. ), 2 BHK Residential Apartment in Sector-150 NoidaAntara Noida , Sector-150 Noida

₹ 13,545/sq.ft.

View₹ 1.7 Crore – 2.31 Crore, 1322.02 – 1794.02 sq.ft.( 122.82-166.67 sq.m. ), 3 BHK Residential Apartment in Sector-150 NoidaAntara Noida , Sector-150 Noida

₹ 12,858/sq.ft.

View₹ 2.68 Crore – 5 Crore, 1608 – 3000 sq.ft.( 149.39-278.71 sq.m. ), 3 BHK Residential Apartment in Sector-128 NoidaKalpataru Vista , Sector-128 Noida

₹ 16,667/sq.ft.

View₹ 3.51 Crore, 3904 sq.ft.( 362.69 sq.m. ), 5 BHK Residential Apartment in Sector-107 NoidaCounty 107 , Sector-107 Noida

₹ 9,000/sq.ft.

View₹ 2.55 Crore, 2769 sq.ft.( 257.16 sq.m. ), 5 BHK Residential Apartment in Sector-150 NoidaSamridhi Daksh Avenue , Sector-150 Noida

₹ 9,196/sq.ft.

View₹ 97.43 Lac – 1.12 Crore, 1059.06 – 1216.97 sq.ft.( 98.38-112.97 sq.m. ), 3 BHK Residential Apartment in Sector-150 NoidaSamridhi Daksh Avenue , Sector-150 Noida

₹ 9,199/sq.ft.

View₹ 1.51 Crore, 1641 sq.ft.( 152.36 sq.m. ), 4 BHK Residential Apartment in Sector-150 NoidaSamridhi Daksh Avenue , Sector-150 Noida

₹ 9,196/sq.ft.

View

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Real Estate: Latest News & Updates on Real Estate, Property

Union Cabinet approves Model Tenancy Act, to overhaul rental housing in the country2 Jun 2021, 03:03 PM IST“The Model Tenancy Act aims at creating a vibrant, sustainable and inclusive rental housing market in the country. It will enable creation of adequate rental housing stock for all the income groups thereby addressing the issue of homelessness,”…


Union Cabinet approves Model Tenancy Act, to overhaul rental housing in the country

2 Jun 2021, 03:03 PM IST

“The Model Tenancy Act aims at creating a vibrant, sustainable and inclusive rental housing market in the country. It will enable creation of adequate rental housing stock for all the income groups thereby addressing the issue of homelessness,” the union government said in a statement.

New residential sales’ share in Mumbai property registration only 29% in May: Report

1 Jun 2021, 02:01 PM IST

Total property registrations in Mumbai stood at 5,360 deals in May, down 47% from previous month and 15% lower than May 2019.

Sales of 3-BHK houses increase by 19% across top 7 cities: Report

1 Jun 2021, 12:06 PM IST

Many of the working population in India are now looking to get larger homes as Work from Home (WFH) is still a recommended suggestion by the central and state governments to follow for corporates.

Mumbai property registration pace starts declining on stamp duty relief withdrawal

31 May 2021, 04:25 PM IST

After witnessing massive jump in sales and property registrations for seven months since September following the state government’s decision to reduce stamp duty, the registrations numbers in May have dwindled just one-third and one-fourth of levels seen in March and December, respectively.

Realty hot spot series: This Ahmedabad locality is a lucrative buy for mid segment home buyers

Realty hot spot series: This Ahmedabad locality is a lucrative buy for mid segment home buyers

31 May 2021, 06:30 AM IST

This week ET Wealth’s realty hot spot series takes a look at a developing area in Ahmedabad. The area offers key social and retail infrastructure in

Residential prices remain stable across top markets

28 May 2021, 03:04 PM IST

As developers continue to focus on recovering the volumes lost amidst the pandemic and gaining a foothold in their respective markets, prices are expected to be largely range-bound across most of the markets in the short-term. This rationalisation combined with reduced home loan rates has further improved affordability in the residential market.

Residential realty demand seen up 5-10% in FY22, pre-Covid19 levels likely after FY23: Report

27 May 2021, 01:48 PM IST

Affordability has improved by up to 30% in the six cities during the past five years because of low interest rates, moderate price correction and reduction in stamp duty (especially in Maharashtra in fiscal 2021), showed CRISIL Research’s Minimum Annual Household Threshold Income index.

65% of home buyers in MMR upgraded to bigger properties: Report

27 May 2021, 11:31 AM IST

“In the pre-Covid era in MMR, the need to live closer to workplaces in areas in and around the pricier CBD areas prompted many buyers in MMR to opt for compact configurations. However, post-Covid, in the new hybrid and WFH environment and with various infra upgrades, the peripheral areas have also become attractive,” said Anuj Puri, Chairman – Anarock property consultants.

Banks assure homebuyers of support for Jaypee Infra resolution, not keen on liquidation

26 May 2021, 04:53 PM IST

Around 20,000 home buyers have been waiting to get delivery of their homes following the Allahabad bench of the NCLT classified Jaypee Infratech as insolvent on the petition filed by IDBI Bank under Section 7 of IBC, 2016. Jaypee had defaulted on Rs 526-crore loan by the bank.

Bengaluru sees 8% CAGR in rental growth over last decade; NCR, MMR remain flat

Bengaluru sees 8% CAGR in rental growth over last decade; NCR, MMR remain flat

25 May 2021, 01:46 PM IST

Bengaluru also leads the pack of IT-BPM office spaces with about 162 million sq.ft. at the end of 2020, followed by Delhi NCR and Mumbai at 116 and

Listed developers’ sales share increases amid pandemic: Anarock

25 May 2021, 10:53 AM IST

In contrast, of the total 2.03 lakh units sold in top seven cities in FY2017, the share of these top eight listed players was the lowest at about 6 per cent while that of non-listed leading players stood at 11 per cent and others (non-branded) had a whopping 83 per cent share.

Realty hot spot series: A well-connected area in NCR with good infrastructure

24 May 2021, 06:30 AM IST

This well-connected residential area enjoys the presence of reputed schools and hospitals, including Cambridge School and Kailash Hospital. Here are other highlights of Omega, Chi, Phi in Greater Noida that make it this week’s real estate hot spot.

Jaypee Infra homebuyers concerned over extension-led delay in resolution

23 May 2021, 09:07 PM IST

Homebuyers’ associations have approached the insolvency resolution professional with their demand to adhere to the timelines without offering any further extensions and avoid litigations to ensure the resolution is successfully completed this time.

Maharashtra RERA aims to expedite conciliation resolutions with new guidelines

21 May 2021, 01:30 PM IST

The regulator is looking to streamline the process of hearing and disposal of the complaints referred to MahaRERA Conciliation and Disputes Resolution Forum, for which the procedural guidelines should be prescribed by the MahaRERA for hearing of complaints referred by MahaRERA.

Coronavirus wave flattens Indian housing market views

Coronavirus wave flattens Indian housing market views

21 May 2021, 09:51 AM IST

The latest forecast for no growth in house prices suggests a decline in real terms with Indian consumer price inflation running over 4% and expected

Why 2021 could be better year than 2020 for residential property market

19 May 2021, 05:05 PM IST

Saurabh Garg, co-founder and chief business officer of NoBroker.com anticipates 2021 would be a better year than 2020 with regard to sales. He talks about changing buyers trend, the emergence of online property visit by home buyers and discounts offered by builders.

Second Covid-19 wave to have minimal impact on delivery of residential units

18 May 2021, 12:34 PM IST

Notably, 72% of the total homes delivered by 2021-end are already sold out, with just 28% remaining unsold. NCR would see the maximum completions with a nearly 28% share, followed by MMR with 26% and Pune with approx. 18%.

Home sales up 21 per cent in Q1 2021 but new launches down by 40%: Report

17 May 2021, 08:27 PM IST

According to a report by real estate data analytic firm PropEquity, Bengaluru, Chennai, Hyderabad, MMR, NCR and Pune are the cities where home sales witnessed a growth in Q1 2021 versus Q1 2020 at 13%, 29%, 16%, 26% and 6% respectively. Only Kolkata witnessed a downfall of 20% in home sales during the same period.

Realty hot spot series: Affordable residential destination in the outskirts of Mumbai

17 May 2021, 06:30 AM IST

Kalyan situated in the outskirts of Mumbai has decent social infrastructure in proximity, including schools, hospitals, banks, cinema halls.

Realtors look forward to Akshaya Tritiya amid Covid-19, lockdown

Realtors look forward to Akshaya Tritiya amid Covid-19, lockdown

13 May 2021, 03:18 PM IST

The second wave of COVID-19, which has hit India is causing a wide surge of infections. Several parts of India are already under strict restrictions

Realty hot spot series: A well-connected residential area in Ahmedabad

10 May 2021, 06:30 AM IST

The property price range per sq. ft. in this locality is Rs 3,400-8,000. There are 1-, 2- and 4-BHK property types available as well. Here are other key features of SG Highway that make it a real estate hot spot.

India’s top property markets see marginal decline in prime residential prices in Q1, report

6 May 2021, 02:41 PM IST

Of these, Bengaluru has moved down four spots in the latest index at 40th rank in the first quarter of 2021 Against 36th rank in Q4 2020 with an on-year decline of 2.7% in prime residential prices.

RERA disposes of 65,539 complaints, sees 63,583 projects’ registration in 4 years since implementation

5 May 2021, 05:10 PM IST

A total 30 states and UTs have already set up a Real Estate Regulatory Authority since implementation, and of this at least 5 are interim. Jammu and Kashmir, Ladakh, Meghalaya and Sikkim have also notified their RERA rules but are yet to establish Authorities.

Uttar Pradesh accounts for 40% of the disposed cases under RERA

5 May 2021, 11:38 AM IST

According to data by the Ministry of Housing and Urban Affairs, 65,539 cases have been disposed of by the respective state authorities as of 24 April 2021. Out of this, nearly 40% cases (26,510 complaints) were resolved in Uttar Pradesh alone, followed by Haryana with 13,269 cases and Maharashtra with 9,265 cases.

Only about 700 new properties registered in Mumbai in April 2021: Report

Only about 700 new properties registered in Mumbai in April 2021: Report

4 May 2021, 12:16 PM IST

Only 7 per cent of 10,000 residential property registrations in April 2021 were from new residential sales concluded in the same month, while 93 per

Silence over sops for middle-income housing surprises real estate sector

4 May 2021, 07:16 AM IST

In a bid to boost demand for real estate and construction activity, the government had extended the benefit of the Credit Linked Subsidy Scheme (CLSS) by a year to March end. There’s been no intimation on a further extension of the scheme, which may end up hurting PM Modi’s objective of Housing for All by 2022, apart from hitting the economy.

Mumbai property registrations see decade’s best April led by spillover effect

3 May 2021, 08:39 AM IST

Registrations dominated by deals transacted in lower stamp duty December-March period, new deals in April much lower

Realty hot spot series: A locality in Gurgaon with good social, retail infra

3 May 2021, 06:30 AM IST

This areas has good social and retail infra in the nearby sectors and is closely connected to major office hubs of Sohna Road, Golf Course Road, Cyber City and Udyog Vihar.

Second Covid wave slows down residential property sales, construction activity in Bengaluru

29 Apr 2021, 03:25 PM IST

The residential property sales had seen a significant jump in Bangalore over the last three quarters due to record-low interest rates, stamp duty reduction and renewed interest among homebuyers for relatively bigger homes—and then the second wave hit and everything went on pause.

UP-RERA seeks direction from state government to end flats registration deadlock

UP-RERA seeks direction from state government to end flats registration deadlock

29 Apr 2021, 11:55 AM IST

In the absence of a payment plan by the local authorities, the developers in the district are not able to clear their dues and the registration of m

50% drop in Maharashtra registrations, revenue

29 Apr 2021, 11:38 AM IST

The duty cut led to a surge in apartment sales during between September 2020-March 2021. Developers urged the state to extend the benefit, but the government rolled back the duty to 5% from April.

COVID-19 to impact housing sales in major cities in April-June quarter: Anarock

28 Apr 2021, 07:35 PM IST

Quoting data by Inspector General of Registration (IGR), Maharashtra, Anarock said the stamp duty cut period between September 2020 to March 2021 saw as many as 80,718 properties registered in Mumbai, up 114 per cent from the corresponding period (September 2019 to March 2020).

Mumbai property registrations rose 114% during stamp duty cut period

28 Apr 2021, 01:25 PM IST

Led by the stamp duty reduction benefit, real estate registrations in Mumbai, the country’s largest property market, witnessed a 114% on-year growth between September 2019 and March 2021 at 80,718 deals, showed the data from Inspector General of Registration (IGR), Maharashtra.

Top 8 Indian cities record 9% on-year rise in Jan-Mar housing sales

27 Apr 2021, 12:29 PM IST

In terms of growth, sales in Chennai witnessed maximum on-year growth of 31%, followed by Pune at 24%, Bangalore 19%, Hyderabad 18%, and Mumbai Metropolitan Region (MMR) 7%. The National Capital Region (NCR) witnessed the maximum decline of 8%.

Price difference of ready and under-construction homes lowest ever at 3-5% in Q1 2021

Price difference of ready and under-construction homes lowest ever at 3-5% in Q1 2021

26 Apr 2021, 11:47 AM IST

The shrunk price gap works well for end-users as well as investors, as end-users can see what they buy and save rent by moving in immediately, while

Realty hot spot series: A well planned residential hub in Kolkata

26 Apr 2021, 06:30 AM IST

This Kolkata locality is not only close to employment hubs but also boasts good social infrastructure. It is well connected to the rest of Kolkata by Biswa Bangla Sarani Road, VIP Road and Kolkata Metro Rail Network. Here are other highlights of Newtown-Rajarhat, Kolkata.

COVID-19 second wave may pause realty sales momentum for now but demand set to rise

25 Apr 2021, 09:58 PM IST

According to industry experts, the second Covid-19 wave is rather expected to further strengthen the demand for housing as all other factors remain the same barring the temporary restriction on movement.

Price difference between completed, under-construction flats narrows to 3-5 pc: Report

25 Apr 2021, 02:02 PM IST

Anarock Chairman Anuj Puri said, “Previously, buyers of under-construction homes had one major advantage. Their patience and willingness to court construction risk were rewarded by notably lower prices.” However, he pointed out that prospective homebuyers have become risk averse due to construction delays and stalled projects and now, demand has tilted heavily towards ready properties.

6,000 flats in Jaypee Wish Town to be handed over by next year

24 Apr 2021, 11:03 AM IST

The number of flats pending for completion has been reflected at 20,000 in the Supreme Court data, while earlier estimates by state-run NBCC had shown around 17,500 flats due for construction at Wish Town. The resolution professional has now updated the number of incomplete flats to 19,500.

Future sentiment index for real estate drops amid 2nd wave of COVID-19

Future sentiment index for real estate drops amid 2nd wave of COVID-19

22 Apr 2021, 06:31 PM IST

As per the 28th Edition of Knight Frank-FICCI-NAREDCO Real Estate Sentiment Index Q1 2021 (January – March 2021) Survey, the ‘Future Sentiment score

34,075 housing units sold in February 2021 :Report

22 Apr 2021, 01:24 PM IST

According to the PropEquity data, 34,075 housing units were sold in February 2021, marginally less than 34,376 in February 2020.

New launches in residential market doubled in Delhi-NCR, sales increased by 23%, says report

21 Apr 2021, 12:43 PM IST

Gurugram contributed 25% of the new launches. These were mainly concentrated in Golf Course Extension Road and Dwarka Expressway.

Property sales continue to witness high interest: Survey

21 Apr 2021, 12:29 PM IST

NoBroker.com, a real estate portal, recently surveyed over 100 builders to map the latest property purchase trends and sentiments in India’s real estate space. According to the survey, 84% of the respondents affirmed that the second half of 2020 registered better sales figures than the same time period of the preceding year.

Jaypee homebuyers ask Suraksha Realty to revise construction timeline in the bid

19 Apr 2021, 02:50 PM IST

An association of allottees of the Garden Isles in the Wishtown project of Jaypee Infratech Limited, which is one of the biggest with 30+ towers and more than 3200 flats, has said that execution period should not exceed 24 months on the outer limit.

Realty hot spot series: An area in Mumbai with quality infra, access to major job hubs

Realty hot spot series: An area in Mumbai with quality infra, access to major job hubs

19 Apr 2021, 06:30 AM IST

ET Wealth realty hot spot series takes a look at Andheri west-Jogeshwari west in Mumbai. The area has major social amenities such as St. Mary’s High

Housing sales across top 8 cities up 20%, 600 projects launched in Q1, report

14 Apr 2021, 12:13 PM IST

Hyderabad and Bangalore reported a relatively slow recovery due to the resurgence in COVID cases; however, Chennai and Kolkata surpassed the pre-COVID demand levels. Delhi NCR, Mumbai and Pune showed consistent growth despite the second wave of COVID-19 in the month of March 2021.

Realtors see construction continuity benefit outweigh Maharashtra restrictions’ impact on April sales

13 Apr 2021, 11:45 PM IST

However, the benefit of continuity in construction activity allowed by the state, developers believe, is expected to outweigh the impact on sales. The state government has allowed construction activity with the condition that developers will be managing workers on site with their food, accommodation, medication and no unnecessary movements.

UP-RERA authorises developer to complete stuck project with the help of homebuyers

12 Apr 2021, 10:06 PM IST

The company and buyers association had submitted a joint proposal promising to complete the project within 18 months. The construction of two towers with 171 units started in November 2014 but the completion date of the project had lapsed on May 22, 2018.

Realty hot spot series: Well-connected area of NCR comprising number of housing projects

12 Apr 2021, 06:30 AM IST

Sectors 74, 75, 76, 77, 78 and 118 of Noida have proximity to employment hubs, including NSEZ, Sectors 59, 60, 62, Noida Phase 2 and Greater Noida Expressway.

Five NCR markets witness uptrend in prices of residential properties

Five NCR markets witness uptrend in prices of residential properties

9 Apr 2021, 07:39 PM IST

These markets, which saw an uptrend in average prices in the first quarter of 2021 compared with the year-ago period, include Greater Noida West, No

Source

Is it wise to invest in Indian real estate market

The real estate market in India is one of the pallbearers of the economy, it is the second-highest employment generator in the country after agriculture. The sector is deeply interlinked to as many as 220 allied sectors. The sector accounts for nearly 6-7 per cent of the economy and is set to account for nearly…

The real estate market in India is one of the pallbearers of the economy, it is the second-highest employment generator in the country after agriculture. The sector is deeply interlinked to as many as 220 allied sectors. The sector accounts for nearly 6-7 per cent of the economy and is set to account for nearly 13 per cent by 2025 if all reform measures announced are executed well. The sector has been one of the biggest wealth creators in the past few decades.   

After temporary shocks in light of structural reforms such as GST and RERA, the enhanced liquidity in the banking system and a restoration of buyer confidence were slowly trickling through in the real estate sector before COVID-19 hit Indian shores. Therefore, the pandemic-influenced slump is, at best, a short-term blip across all sectors of the economy. With the rollout of the vaccine and resumption of normalcy, the real estate market will certainly bounce back with renewed vigor.

Also Read: Good Time to Buy Real Estate

The pandemic may, in 2021, affect buyers’ preferences in terms of choice of real estate: larger layouts with higher safety, hygiene, and captive amenities may find their way to more takers. In terms of commercial real estate, satellite offices in non-conventional micromarkets, i.e. outside the CBDs ( Central Business Districts) will be absorbed faster and more effectively.   

With the wide adoption of WFH (Work From Home) across the IT sector, ITeS buildings may face medium vacancies through the first quarter of 2021 but as the threat of COVID is mitigated, we will see greater absorption in Q2 and the second half of the year.   

Atmanirbhar Bharat and the increase in FDI are indicative of a strong recovery of commercial real estate towards the second half of the year. Vacancies in retail, after an all-time high in the pandemic, are already in decline and an increased uptake of the same is to be expected throughout 2021.

Despite the short-term disruptions, India’s commercial real estate sector continues to attract interest from occupiers and investors looking at the long-term horizon. With further relaxation provided by the government post COVID, employers and employees are seeking the right balance of in-office and remote working options.

As we move forward, 2021 will see a steady flow of investment as easy liquidity by global central banks will ensure interest rates are low and funds will chase investments with high yields. Following SEBI’s amendment of the rules of REITs, one can expect an inflow of investment in commercial real estate that offers lucrative returns as compared to other investment avenues.

Also Read: Retail sentiment in real estate improves in Q3, but not robust yet

As per a report by Savills India, PE investment in the Indian real estate sector may recover and garner inwards flow to the tune of $6 billion in 2021, up 30% YoY. The improvement in the economic scenario, boosted by positive reform initiatives, will back the growth.. The office space segment has witnessed decent traction for the current year.

With improving growth prospects, real estate prices in the prime cities are expected to stay stable, with upwards growth in certain pockets as demand grows.   

India is among the fastest-growing economies, Indian government preparing for mass vaccination will ensure the economy is on a growth track in one to two quarters. The accommodative stance by the central bank and liquidity measures will ensure interest rates are low in the short to medium term, aiding growth.

Also Read: How COVID-19 pandemic is an opportunity in disguise for India’s realty sector

More so, the Maharashtra government is likely to decide on an updated construction premium and levy policy, a move that will reduce the construction cost for developers in the biggest real estate market in India. The decision will help reduce prices and remain consistent with the government’s aim of making properties more affordable.

In summary, with a slew of economic and policy reforms and stimulus packages introduced by the authorities, the sector will have a positive outlook in 2021. With improved buyer sentiment, we see a positive impact on the fence sitters who will now come out and invest, further increasing the demand for more dynamic layouts considering the new normal. The industry is hopeful of an impactful budget from the Finance Minister which will not only help the real estate sector but the entire economy.

(The author is CEO of Azlo Realty.)

Source

Overview, Market Size, Growth, Investments

Introduction Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors – housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry…

Introduction

Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors – housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.

In India, the real estate sector is the second-highest employment generator, after the agriculture sector. It is also expected that this sector will incur more non-resident Indian (NRI) investment, both in the short term and the long term. Bengaluru is expected to be the most favoured property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun.

Market Size

By 2040, real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13% to the country’s GDP by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs.

The office market in top eight cities recorded transactions of 22.2 msf from July 2020 to December 2020, whereas new completions were recorded at 17.2 msf in the same period. In terms of share of sectoral occupiers, Information Technology (IT/ITeS) sector dominated with a 41% share in second half of 2020, followed by BSFI and Manufacturing sectors with 16% each, while Other Services and Co-working sectors recorded 17% and 10%, respectively.

In 2020, the manufacturing sector accounted for 24% of office space leasing at 5.7 million square feet. SMEs and electronic component manufacturers leased the most between Pune, Chennai and Delhi NCR, followed by auto sector leasing in Chennai, Ahmedabad and Pune. The 3PL, e-commerce and retail segments accounted for 34%, 26% and 9% of office space leases, respectively.

Retail real estate and warehousing segment attracted private equity (PE) investments of US$ 220 million and US$ 971 million, respectively, in 2020. Grade-A office space absorption is expected to cross 700 msf by 2022, with Delhi-NCR contributing the most to this demand.

Housing launches were 86,139 units across the top eight Indian cities in the second half of 2020. Home sales volume across eight major cities in India jumped by 2x to 61,593 units from October 2020 to December 2020, compared with 33,403 units in the previous quarter, signifying healthy recovery post the strict lockdown imposed in the second quarter due to the spread of COVID-19 in the country.

According to the Economic Times Housing Finance Summit, about 3 houses are built per 1,000 people per year compared with the required construction rate of five houses per 1,000 population. The current shortage of housing in urban areas is estimated to be ~10 million units. An additional 25 million units of affordable housing are required by 2030 to meet the growth in the country’s urban population.

Investments/Developments

Indian real estate sector has witnessed high growth in the recent times with rise in demand for office as well as residential spaces. Indian real estate attracted U$ 5 billion institutional investments in 2020, equivalent to 93% of transactions recorded in the previous year. Investments from private equity (PE) players and VC funds reached US$ 4.06 billion in 2020.

Exports from SEZs reached Rs. 7.96 lakh crore (US$ 113.0 billion) in FY20 and grew ~13.6% from Rs. 7.1 lakh crore (US$ 100.3 billion) in FY19.

According to the data released by Department for Promotion of Industry and Internal Trade Policy (DPIIT), construction is the third-largest sector in terms of FDI inflow. FDI in the sector (including construction development and construction activities) stood at US$ 42.97 billion between April 2000 and September 2020.

Some of the major investments and developments in this sector are as follows:

  • In April 2021, HDFC Capital Advisors (HDFC Capital) partnered with Cerberus Capital Management (Cerberus) to create a platform that will focus on high-yield opportunities in the residential real estate sector in India. The platform seeks to purchase inventory and provide last-mile funding for under construction residential projects across the country.
  • In March 2021, Godrej Properties announced it would launch 10 new real estate projects in Q4.
  • In March 2021, Godrej Properties increased its equity stake in Godrej Realty from 51% to 100% by acquiring equity shares from HDFC Venture Trustee Company.
  • In January 2021, SOBHA Limited’s wholly owned subsidiary, Sabha Highrise Ventures Pvt. Ltd. acquired 100% share in Annalakshmi Land Developers Pvt. Ltd.                                                                                              
  • In November 2020, Accor, a leading hospitality group, to launch seven new properties in India by 2022.
  • In November 2020, Prestige Estates Projects Ltd. sold a large portfolio of office, retail and hotel properties to Blackstone for Rs. 12,745 crore (US$ 1.7 billion).
  • In November 2020, Taj Group partnered with real estate company Ambuja Neotia Group to launch three new hotels—two in Kolkata and one in Patna.
  • The Godrej Group has forayed into the financial services industry with Godrej Housing Finance (GHF) through which it hopes to build a long-term and sustainable retail financial services business in India, aiming for a balance sheet of Rs. 10,000 crore (US$ 1.35 billion) in the next three years.
  • In October 2020, Brookfield Asset Management made a massive investments in India through a US$ 2 billion real estate deal. Brookfield will buy 12.5 million square feet of commercial real estate assets from privately held developer RMZ Corp. The purchase includes rent-yielding office space and commercial co-working space.
  • In October 2020, Rajasthan-based realty developer, Bhumika Group, announced its plans to invest Rs. 450 crore (US$ 60.81 million) in two residential and one retail project in Udaipur, Alwar and Jaipur, respectively.
  • In October 2020, Australia’s REA Group Ltd. announced its agreement to acquire a controlling interest in Elara Technologies Pte. Ltd, the owner of Housing.com, PropTiger.com and Makaan.com.
  • In September 2020, RMZ Corp. sold 12.8 million square feet real estate assets to a fund managed by the Brookfield Asset Management for Rs. 15,000 (US$ 2 billion).
  • According to the property consultant, Anarock, India is likely to have 100 new malls by 2022. Of this number, 69 malls in will be built in the top seven metropolis and the remaining 31 malls will be in Tier 2 & 3 cities.   
  • In March 2020, the Government approved proposals from TCS and DLF to set up SEZs for IT sector in Haryana and Uttar Pradesh.
  • Blackstone crossed US$ 12 billion investment milestone in India.
  • Puravankara Ltd, a realty firm, plans to invest around Rs. 850 crore (US$ 121.6 million) over the next four years to develop three ultra-luxury residential projects in Bengaluru, Chennai and Mumbai.
  • First REIT, which raised Rs. 4,750 crore (US$ 679.64 million), was launched in the early 2019 by global investment firm Blackstone and realty firm Embassy group.
  • In January 2020, RMZ Corp entered into a strategic and equal partnership with Mitsui Fudosan (Asia) Pte Ltd to expand its business footprint.

Government Initiatives

Government of India along with the governments of respective States has taken several initiatives to encourage development in the sector. The Smart City Project, with a plan to build 100 smart cities, is a prime opportunity for real estate companies. Below are some of the other major Government initiatives:

  • Under Union Budget 2021-22, tax deduction up to Rs. 1.5 lakh (US$ 2069.89) on interest on housing loan, and tax holiday for affordable housing projects have been extended until the end of fiscal 2021-22.
  • The Atmanirbhar Bharat 3.0 package announced by Finance Minister Ms. Nirmala Sitharaman in November 2020 included income tax relief measures for real estate developers and homebuyers for primary purchase/sale of residential units of value (up to Rs. 2 crore (US$ 271,450.60) from November 12, 2020 to June 30, 2021).
  • In October 2020, the Ministry of Housing and Urban Affairs (MoHUA) launched an affordable rental housing complex portal.
  • On October 27, 2020, the government announced the application of Real Estate (Regulation & Development) Act, 2016 in the union territory of Jammu & Kashmir. This has paved the way for any Indian citizen to buy non-agricultural land and property, as opposed to the eligibility of only local residents earlier.
  • In order to revive around 1,600 stalled housing projects across top cities in the country, the Union Cabinet has approved the setting up of Rs. 25,000 crore (US$ 3.58 billion) alternative investment fund (AIF).
  • Government has created an Affordable Housing Fund (AHF) in the National Housing Bank (NHB) with an initial corpus of Rs. 10,000 crore (US$ 1.43 billion) using priority sector lending short fall of banks/financial institutions for micro financing of the HFCs.
  • As of January 31, 2021, India formally approved 425 SEZs, of which 265 were already operational. Most special economic zones (SEZs) are in the IT/ BPM sector.

Road Ahead

The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate Investment Trust (REIT) platform, which will allow all kind of investors to invest in the Indian real estate market. It would create an opportunity worth Rs. 1.25 trillion (US$ 19.65 billion) in the Indian market in the coming years. Responding to an increasingly well-informed consumer base and bearing in mind the aspect of globalisation, Indian real estate developers have shifted gears and accepted fresh challenges. The most marked change has been the shift from family owned businesses to that of professionally managed ones. Real estate developers, in meeting the growing need for managing multiple projects across cities, are also investing in centralised processes to source material and organise manpower and hiring qualified professionals in areas like project management, architecture and engineering.

The residential sector is expected to grow significantly, with the central government aiming to build 20 million affordable houses in urban areas across the country by 2022, under the ambitious Pradhan Mantri Awas Yojana (PMAY) scheme of the Union Ministry of Housing and Urban Affairs. Expected growth in the number of housing units in urban areas will increase the demand for commercial and retail office space.

The current shortage of housing in urban areas is estimated to be ~10 million units. An additional 25 million units of affordable housing are required by 2030 to meet the growth in the country’s urban population.

The growing flow of FDI in Indian real estate is encouraging increased transparency. Developers, in order to attract funding, have revamped their accounting and management systems to meet due diligence standards. Indian real estate is expected to attract a substantial amount of FDI in the next two years with US$ 8 billion capital infusion by FY22.

References: Media Reports, Press releases, Knight Frank India, VCCEdge, JLL Research, CREDAI-JL, Union Budget 2021-22

Note: Conversion rate used in January 2021, Rs. 1 = US$ 0.0137

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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