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<keyword id="6371902" type="UNKNOWN" weightage="20" keywordseo="home-buyers">Home buyers</keyword> in Delhi, Mumbai, Bengaluru and Chennai are elated over plummeting <keyword id="35507" type="UNKNOWN" weightage="40" keywordseo="property-prices">property prices</keyword>, a trend which has also become a cause of concern for investors. 
 The slowdown of property price appreciation in these top cities has forced the investors to opt out of <keyword id="6354553" type="COMPANY" weightage="40" keywordseo="real-estate">real estate</keyword> market in India. 
 
Property investors are pained over difficult exit and incurred losses. 
 
Presently, in Delhi-NCR property prices have seen minute appreciation around 2 per cent in the last quarter of 2015 against 7 per cent in 2014. 
 
Likewise, in Mumbai also the residential property prices saw an appreciation of 3.3 per cent only. 
 
"A sign of any residential market's increasing maturity is evidenced by gentler price appreciation - a process which has been very much in evidence in the country's financial capital. Fourth quarter price performance in Delhi-NCR, Bengaluru and Chennai is also representation of what happened through the year," said Ramesh Nair, chief operating officer, business and international director at JLL India. 
 
Meanwhile, JLL predicts that the Mumbai residential property prices in 2016 will touch 6%. 
 
The JLL study showed that unlike the pre-global financial crisis times, the market has seen a rather subdued growth in prices over the last couple of years. 
 
"Current market does not offer any incentive to investors, even our usual set of investors are not showing any interest in picking up properties. If annual appreciation is less than 5% and lease rental yield is around 1.5% per annum, then why would they be keen to invest?," ET quoted Yashwant Dalal, president, Estate Agents Association of India, as saying. 
 
However, Pune, Hyderabad and Kolkata have still seen relatively better appreciation in home prices at 5-10%. 
 
(Image: Indiatimes)

Stagnant property prices cheer home buyers, become headache for investors

Hyderabad, Pune, Navi Mumbai, and Ahmedabad are among the top 10 most <a href="http://www.businessinsider.in/searchresult.cms?query=affordable+property">affordable property</a> markets in the country according to JLL India. The other six cities are Kochi, Ghaziabad, Jaipur, Nagpur, Surat and Coimbatore. 
 
"These towns and cities offer a wide spectrum of investable options in <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate">real estate</a> with relatively lower property price levels, providing the incentives for future capital appreciation and healthy returns," JLL India Chairman and Country Head Anuj Puri said. 
 
Puri said Hyderabad is the most affordable cities among all tier 1 cities of India. Even the well-developed <a href="http://www.businessinsider.in/searchresult.cms?query=residential+areas">residential areas</a> there offer properties in the budget range. 
 
JLL said Pune has recorded a healthy growth in the <a href="http://www.businessinsider.in/searchresult.cms?query=affordable+property">affordable housing</a> segment. However, these are on the periphery of the city and offer small 1-2 BHK flats with basic, no-frills amenities. 
 
"While property prices have increasingly become unaffordable in Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs 30-50 lakh," Puri said. 
 
Image Credit: Indiatimes

Considering buying affordable property? Pune,
Hyderabad, Navi Mumbai among best bets!

According to JLL India, <keyword id="6354552" type="COMPANY" weightage="80" keywordseo="hyderabad">Hyderabad</keyword>, <keyword id="2094" type="COMPANY" weightage="80" keywordseo="Pune">Pune</keyword>, <keyword id="57321" type="PERSON" weightage="80" keywordseo="Navi-Mumbai">Navi Mumbai</keyword>, and Ahmedabad are among the 10 affordable <keyword id="6354516" type="ORGANIZATION" weightage="80" keywordseo="property">property</keyword> markets in the country where flats are available within the budget of Rs 30-50 lakh. 
 
The other six cities are Kochi (Kerala), Ghaziabad(Uttar Pradesh), Jaipur (Rajasthan), Nagpur (Maharashtra), Surat (Gujarat) and Coimbatore in Tamil Nadu. 
 In its latest report, property consultant JLL India has listed 10 cities that offer great lower-budget <keyword id="6354553" type="COMPANY" weightage="80" keywordseo="real-estate">real estate</keyword> investment prospects over medium to long term. 
 
"These towns and cities offer a wide spectrum of investable options in real estate with relatively lower property price levels, providing the incentives for future capital appreciation and healthy returns," JLL India Chairman and Country Head Anuj Puri said. 
 
On Hyderabad, Puri said it is perhaps one of the most it is perhaps one of the most affordable cities among all tier 1 cities of India. Even the well-developed residential localities in Hyderabad, such as Manikonda, Kukatpally, Miyapur and Sainikpuri offer housing properties in the budget range of Rs 30-50 lakh. 
 The report mentioned that Hyderabad's <keyword id="46631" type="UNKNOWN" weightage="80" keywordseo="Realty-market">realty market</keyword> is now set for an upswing after a prolonged slump due to the global recession followed by political turmoil. 
 
About Pune, JLL said the city has recorded good growth in the affordable housing segment over the last couple of years. Such projects are located on the periphery of the city and offer small 1-2 BHK flats with basic, no-frills amenities. 
 "While <keyword id="35507" type="UNKNOWN" weightage="80" keywordseo="property-prices">property prices</keyword> have increasingly become unaffordable in Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs 30-50 lakh," Puri said. 
 
The proposed SEZs at Dronagiri, Ulwe and Kalamboli, and the upcoming international airport at Panvel are expected to help generate employment and boost demand for commercial and residential developments. 
 
On Ghaziabad, JLL said that the city is an emerging residential neighbourhood of NCR which has a very high supply of flats in the budget of Rs 30-50 lakh. 
 
"Well connected via metro and roads to the job markets of Delhi-NCR region, the city caters largely to the mid-segment home buyers. The city has a high supply of ready-to-move-in properties offered by renowned developers," the report sad. 
 
Infrastructural developments such as extension of the Metro Rail and widening of the NH 24 will further boost Ghaziabad's realty market, it added. 
 
On Kochi, JLL said: "Gone are the days when the city's builders focused only on affluent buyers. Today, the Kochi residential real estate market is dominated by affordable housing segment, which accounts to about 60 per cent of the total housing projects in the city." 
 
Image credit: Indiatimes

Pune, Hyderabad, Navi Mumbai and Ahmedabad among 10 affordable property markets in India

When Mumbai-based private property developer <a href="http://www.businessinsider.in/searchresult.cms?query=lodha+group&amp;sortorder=effectivedate">Lodha Group</a> acquired the Canadian embassy building in <a href="http://www.businessinsider.in/searchresult.cms?query=london+mayfair&amp;sortorder=effectivedate">London's Mayfair</a> district for $530 million (Rs 3,300 crore then) in its biggest overseas move in November 2013, industry watchers saw it as a one-off event. 
 
But within three months, India’s largest housing developer by sales, acquired another asset called New Court, located on Carey Street next to the London School of Economics from West End of London Property Unit Trust, giving a glimpse of its strategy of carrying out big-ticket property transactions overseas along with buying land parcels in India. 
 
However, the developer’s peers got a clear sense of its overseas ambitions only when a few months later Abhishek Lodha, managing director, announced plans to become one of the biggest investors in London’s residential property market by spending as much as $5 billion—$3 billion for acquiring new assets and $2 billion for construction—and developing a slate of properties ranging from super-prime to mid-market by 2018 end. 
 
In the process, Lodha plans to take on top London-focused realtors such as Berkeley and Barratt Development in what it describes as the largest foreign direct investment in the UK housing space ever. 
 
Lodha aims to be among the top developers in London by making significant investments using cash flows generated back home in Mumbai where it is it developing several high-profile projects spread over 35 million sq ft in prime areas such as Napean Sea Road, Prabhadevi and Walkeshwar. 
 
Rather than acquiring existing UK developers, the group plans to build a ‘local business’ by significantly expanding the size of its London team which currently has around 25 members. 
 
In fact, its London deals are a continuation of similar transactions it carried out in Mumbai—a few years ago, it bought the US Consulate's Washington House in South Mumbai for Rs 341.82 crore then. 
 Started by Mangal Prabhat Lodha in 1980, family-controlled <keyword id="46877" type="COMPANY" weightage="20" keywordseo="Lodha-group">Lodha group</keyword> has built some of the most prestigious landmarks in Mumbai, including the upcoming 117-storied World One tower, which is touted as world’s tallest residential skyscraper. 
 
The Lodha family has built one of India’s leading ‘organised realty firms’ with a focus on high-quality developments made alongside international partners, including the group of US tycoon and possible Republican presidential candidate Donald Trump—it recently signed a pact with Trump’s group to develop luxury residential properties in Mumbai. 
 Lodha’s plan to build and cement its presence in London came amid growing interest from non-UK realty groups in the British capital’s booming property market. Among them was Lodha’s Mumbai-based peer <keyword id="6363556" type="COMPANY" weightage="20" keywordseo="Indiabulls">Indiabulls</keyword> that bought a building in central London’s Hanover Square for £155m in June 2014. The asset, spread across an 87,444 sq ft, was purchased from Scottish Widows Investment Partnership, now part of Aberdeen Asset Management, which put the building up for sale in April through consultancy firm H2SO which is a part of Colliers International. 
 
Indiabulls, led by group chairman Sameer Gehlaut, plans to convert the commercial asset into a residential property, as it seeks to diversify its investments and profit pool across various geographies, especially London which it sees as a safe realty market to invest. 
 
These deals were in addition to a clutch of purchases in Mayfair collectively worth more than £1 billion by Indian high net-worth individuals during the year preceding Indiabulls’ foray into London, according to Wetherell, a realty agent. 
 
In fact, as India is becoming a challenging place to invest on the back of high loan interest rates and expensive metro living conditions, an increasing number of Indians—including businessmen, professional property investors, mid-to-top level company officials and high- net-worth individuals—has been investing in real estate projects abroad, especially London, New York or Singapore. 
 
For instance, Indians purchasing properties in London, New York or Singapore can avail of the considerably lower interest rates existing in those markets. 
 
Also, since property markets are more transparent in those markets than back in India, investors can get 'clean' deals much faster and easier. 
 
Among the overseas realty markets preferred by Indians, London has emerged one of the best bets in recent times. 
 
Of late, the city has demonstrated its status as a mature realty market that has remained stable through economic cycles like the 2008 crisis. Since it has also been attracting investments from across the globe—Europe, Asia and the US—it is known to have been offering some cushion again downfall in any of these markets. 
 
While Lodha and Indiabulls are euphoric about the entry into London, most England-focused property observers are doubtful if they can make it big in one of the most thriving property markets across the globe, considering a couple of constraints. Traditionally a few developers with large land banks have been enjoying market-leadership positions in the British house-building market; either Lodha or Indiabulls has this advantage, as they are just testing waters outside their presence in India. 
 
In the past, lengthy and complicated town planning process has also hampered new players’ plans to make a decisive mark in the UK realty space, especially London. 
 
So one has to wait and see if the ambitious plans to Indian realtors such as Lodha and Indiabulls to make it big in London will fructify. 
 
(Image: Thinkstock)

Indian realtors are making euphoric entries in London but will others follow suit

New Delhi, Dec 12 () Realty firm Godrej Properties on Thursday said it has added four new projects in Mumbai Metropolitan Region (MMR) and Bengaluru comprising 12.7 million sq ft of developable area.
 The company, a real estate arm of business conglomerate Godrej group, said it has added three new projects at Navi Mumbai, Ambernath, and Thane in MMR and one new project in North Bengaluru.
 "These new projects will add approximately 1.18 million square metres (12.70 million sq ft) to its development portfolio," Godrej Properties said in a statement.
 Godrej Properties has entered a joint venture to develop a township project of over 100 acres in the residential market of Navi Mumbai. This project will offer about 7.5 million sq ft of development area and will be built as a residential project with a retail component.
 The second project is a joint venture with Nisarg Nirman Developers to build a land parcel of about 6.4 acres in Ambernath. This project will offer about 1.1 million sq ft of development area and will be developed as a group housing project.
 The third project is an outright purchase of land in Thane. Spread across about 8 acres, this project will offer about 1.1 million sq ft of development area.
 Godrej Properties has formed a JV with the promoters of Universal Builders to develop a affordable housing project in North Bengaluru. This project will have developable area of about 3 million sq ft spread over 22 acre land.
 On adding these four projects in the company's portfolio, Godrej Properties Executive Chairman Pirojsha Godrej said, "This fits well with our strategy of building our presence in the country's leading real estate markets and will add momentum to our plans to grow market share during the period of dislocation the industry is currently facing. We look forward to delivering outstanding projects across these locations".
 Godrej Properties is currently developing residential, commercial and township projects spreading approximately 17.44 million square metres (187.7 million square feet) across 78 projects in 10 cities. MJH ANS
ANS

Godrej Properties adds 4 new projects in Mumbai region, Bengaluru

New Delhi [India], June 13 (ANI): Mumbai and New Delhi are among cities in India that recorded a sharp annual increase in their <keyword id="6354553" type="General" weightage="100" keywordseo="real-estate" source="Orion">real estate</keyword> prices in the first quarter of 2024, according to a report by London-headquartered global property consultancy firm <keyword id="6363605" type="General" weightage="20" keywordseo="Knight-Frank" source="Orion">Knight Frank</keyword>. In case of Bengaluru, the average real estate prices witnessed a modest 4.8 per cent rise in prime residential or luxury homes during the January-March quarter of 2024. According to the report by the property consultant, titled '<keyword id="22041946" type="General" weightage="20" keywordseo="Prime-Global-Cities-Index-Q1-2024" source="Orion">Prime Global Cities Index Q1 2024</keyword>', Mumbai's significant rise on the international index was largely due to the rise in demand in the city. While the demand has been strong for all segments, there has been a rise in the sale of higher value products. Mumbai recorded the third highest year-on-year growth in prime residential prices in Q1-2024, pushing it up the ranking table by three places to 3rd position from its 6th position in Q1-2023. Delhi NCR rose from 17th rank in Q1-2023 to 5th in Q1-2024 with a growth of 10.5 per cent on a yearly basis. However, Bengaluru observed a slight decline in ranking from 16th place in Q1-2024 to 17th rank in Q1-2024, even while it recorded a 4.8 per cent yearly growth in residential prices. India's main cities, notably New Delhi and Mumbai, have witnessed a surge in house prices driven by robust economic growth, with annual GDP growth exceeding 8 per cent in the just concluded financial year 2023-24. Manila, the capital city of Philippines, claimed the top spot in the ranking with a 26.2 per cent annual rise in prices. The growth, as per the Knight Frank report, can be attributed to two key factors: purchasing power, and substantial infrastructure investments within and around the city. Tokyo in Japan jumped 17 places up with 12.5 per cent yearly price growth and ranked 2nd in the index. Despite Japan's overall population decline, Tokyo sustains a net population growth owing to migration from other regions within the country. Shishir Baijal, Chairman and Managing Director at Knight Frank India said, "The strong demand trend for residential properties has been a global phenomenon, led by gateway markets of Asia- Pacific and EMEA (Europe, Middle East, and Africa)." "Like its peers in these regions, the improved rankings of Mumbai and New Delhi on the Prime Global Cities Index was underscored by the resilience in sales growth volume. We expect the momentum of sales to remain stable over the next few quarters as the economic conditions are likely to remain broadly unchanged." The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.

Mumbai, Delhi record real estate price appreciation in double digits; Ranked 3rd and 5th globally

Be it renting or buying, one of the main concerns that a consumer faces is brokerage rate. People avoid going to brokers, especially while renting spaces as they charge a bomb. 
 
There are many Indian cities where a broker charges somewhere between Rs 40,000 and Rs 50,000 in advance as brokerage amount. 
While looking at renting apartments in residential areas, many customers avoid giving away such huge amounts and have to run from pillar to post trying to find a suitable accommodation that doesn’t charge them the earth as brokerage charges. 
 “The residential rental market in India is still largely unorganised. Presence of individual brokers leads to fragmented information regarding the brokerage on renting properties,” said Amit Kumar Agarwal, Founder &amp; CEO, <keyword id="2918623" type="UNKNOWN" weightage="20" keywordseo="nobroker-com">NoBroker.com</keyword>, a brokerage-free property search portal which recently launched its services in Gurgaon. 
 
The market size of residential rental and resale brokerage in top 20 cities in India is a whopping $6.5 billion, which is estimated to grow to $17 billion in next 5 years. 
 
As per the data by NoBroker.com, these are 6 Indian cities where brokerage rates on renting residential properties are very high.

6 Indian cities where brokerage rate is quite high

The developers' body Confederation of <keyword id="414924" type="ORGANIZATION" weightage="20" keywordseo="Real-Estate-Developers-Association-of-India">Real Estate Developers Association of India</keyword> (CREDAI) and JLL India have done a study in Mumbai, which tells that ready-to-move yet unsold flats in the region comprise of 3.5% of total unsold property. The total value of the unsold inventory is over Rs 2,430 crore, suggests an Economic Times report. 
 The report quotes <keyword id="57321" type="PERSON" weightage="20" keywordseo="Navi-Mumbai">Navi Mumbai</keyword> as the most adversely affected part of Mumbai metropolitan. 
 
On the one hand, where the property extend went beyond thirty months, the other side stresses on the fact that most of the parts are not yet ready to occupy. The report also suggested that even after providing various discounts and offers, the project could not fetch ample buyers. 
 Navi Mumbai, for instance, has to sell 8.13% <keyword id="1010899" type="UNKNOWN" weightage="20" keywordseo="ready-to-occupy-flats">ready-to-occupy flats</keyword> of total unsold inventory. Mumbai and <keyword id="37647" type="CITY" weightage="20" keywordseo="Thane">Thane</keyword> however are ready to offer possessions with 1.10% and 1.33% respectively of the total inventory. Only 2,600 of the total unsold inventory of 77,460 residential units have been completed in Mumbai as well as Thane and Navi Mumbai. 
 
Of the total unsold inventory, 5,311 units are priced above Rs 5 crore, nearly 17,000 are priced between Rs 2 and Rs 5 crore. Over 35,700 units are priced between Rs 65 lakh and Rs 2 crore, while 19,500 units are priced below Rs 65 lakh. 
 "There is slow absorption due to buyers holding on to their purchase decisions with the expectation of a price correction in this weak market. It also goes on to show how buyers prefer to buy into completed projects. Also, the market has become largely end-user driven and investors no longer park funds in residential <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> as the high returns that it was once known for, have considerably diminished," told Ashutosh Limaye, national director, research, JLL India. 
 
Image: indiatimes

Delayed by 30 months and not ready yet! This is the status quo of ready-to-move residential units in Mumbai.

<keyword id="6358070" type="General" weightage="100" keywordseo="mumbai" source="Orion">Mumbai</keyword>, <keyword id="13749453" type="General" weightage="20" keywordseo="housing-sales-in-mumbai" source="Orion">Housing sales in Mumbai</keyword> are likely to cross Rs 1 lakh crore this calendar year and may breach the Rs 2 lakh crore-mark in 2030 on rising demand, according to a report. Realtors body <keyword id="6404896" type="General" weightage="80" keywordseo="naredco" source="Orion">Naredco</keyword>'s Maharashtra chapter and property consultant JLL India on Friday released a report "Unlocking Opportunities with Infrastructure Development" here. The report noted that Mumbai maintains its position as one of India's largest residential markets, contributing 40 per cent to the total residential sales value in the country. In number of units, the Mumbai market accounts for 25 per cent of total sales volume across seven cities. "The market has witnessed a strong recovery in sales with 2022 surpassing 2018 both in terms of sales value and sales volume," the report said. In 2023, sales of residential units in Mumbai are expected to increase further. "Residential sales value is likely to breach the Rs 1 lakh crore mark." Sales would breach the Rs 2 lakh crore mark in 2030, the consultant estimated. Mumbai witnessed sales of Rs 90,552 crore during the 2022 calendar year and Rs 50,075 crore in the first half of this calendar year. Pre-Covid, the housing sales in Mumbai stood at Rs 60,928 crore in 2019 and Rs 66,820 crore in 2018. Mumbai city has demonstrated a robust recovery in 2022, witnessing an increase in both sales value and volume. "Maharashtra is amid a remarkable transformation driven by the visionary approach of its government towards infrastructure development. The opportunities that lie before us are boundless, and it is our shared responsibility to harness them, for the betterment of the state and the advancement of the real estate sector," Sandeep Runwal, President of NAREDCO Maharashtra and MD of Runwal Developers, said. Karan Singh Sodi, Senior Managing Director, Mumbai, MMR, India, JLL, said individuals have a preference for staying close to office markets. "Owing to this, residential clusters in proximity to office markets have flourished and attracted steep prices whereas those with limited connectivity have trailed," Sodi said. During the past three years, Mumbai's housing market, particularly in the luxury segment, has demonstrated a consistent upward trajectory, Ashwin <keyword id="297510" type="General" weightage="50" keywordseo="chadha" source="Orion">Chadha</keyword>, CEO of India Sotheby's International Realty, said. "The surge in demand has propelled both supply and prices, leading to an anticipated expansion in market size," Chadha said.

Housing sales in Mumbai likely to cross Rs 1 lakh cr this year: Naredco-JLL

This year <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> players in India will have a reason to smile. Studies indicate that NRI property buyers’ investment is expected to surge by 35% against 18% in the last fiscal year. 
	 “NRIs feel confident about the new government of India and waiting for an investment-friendly market in various fields” said D S Rawat, secretary general of <keyword id="6355988" type="CITY" weightage="20" keywordseo="Assocham">ASSOCHAM</keyword> in a report. According to a survey conducted by the industry body, where 850 real estate developers were questioned, there has been a substantial increase in number of enquiries from NRIs. The survey was carried out in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun and Chennai among others. 
	 Rawat attributed this rise to the revival of global economies. “People are more optimistic and looking for property to invest in. Both small and big developers are foc<keyword id="6354458" type="COUNTRY" weightage="20" keywordseo="US">us</keyword>ing the NRI base in the US, <keyword id="6354868" type="COUNTRY" weightage="20" keywordseo="UK">UK</keyword> and Asia Pacific Region this year. ” 
	 According to the findings of the survey, NRI property buyers have shown inclination towards high-end residential and commercial properties in the country. A large number of enquiries are coming from Indians residing primarily in the Middle East, the US, <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword>, Australia, UK, Canada and South Africa. 
	 
	In terms of the most preferred city, Bangalore has topped the charts followed by Ahmedabad, Pune, Goa and Chennai. Surprisingly, Delhi is among the least preferred real estate markets. 
	 
	“Bangalore tops in terms of investment from Non Resident Indians (NRIs) who are considering settling down in India in coming years. The major factors that drive NRIs to invest in Bangalore’s property market is the booming IT sector. On the other hand, Ahmedabad has continued to be the most stable market in terms of demand and absorption of both residential and commercial spaces. NRI’s consider Ahemdabad as a safe place to invest in, with lenient government regulations regarding property investments by NRIs. While Pune takes the 3rd place with 30.5%, Chennai at 28% per cent assumes 4th position and Goa is at 5th position with 23%. While in Delhi, only 21% NRIs are interested in property purchase,” the study disclosed. 
	 
	In order to woo the cash-rich NRI clientele, real estate players have not only organised property shows and exhibitions, but have also expanded their existing distribution chains and entering into strategic partnerships to encourage investments in the Indian property market. 
	 
	 NRI Investments In India’s Real Estate Market To Surge By 35%NRI property buyers’ investment is expected to surge by 35% against 18% in the last fiscal year.“NRIs feel confident about the new government of India and waiting for an investment-friendly market in various fields” said D S Rawat, secretary general of ASSOCHAM in a report. 
	 
	According to a survey conducted by the industry body, where 850 real estate developers were questioned, there has been a substantial increase in number of enquiries from NRIs. The survey was carried out in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun and Chennai among others.Rawat attributed this rise to the revival of global economies. “People are more optimistic and looking for property to invest in. Both small and big developers are focusing the NRI base in the US, UK and Asia Pacific Region this year. ” 
	 
	NRI property buyers have shown inclination towards high-end residential and commercial properties in the country. A large number of enquiries are coming from Indians residing primarily in the Middle East, the US, Singapore, Australia, UK, Canada and South Africa.Ahmedabad, Pune, Goa and Chennai. Surprisingly, Delhi is among the least preferred real estate markets.NRIs) who are considering settling down in India in coming years. The major factors that drive NRIs to invest in Bangalore’s property market is the booming IT sector. 
	 
	On the other hand, Ahmedabad has continued to be the most stable market in terms of demand and absorption of both residential and commercial spaces. NRI’s consider Ahemdabad as a safe place to invest in, with lenient government regulations regarding property investments by NRIs. While Pune takes the 3rd

NRI Investments In India’s Real Estate Market To Surge By 35%

BJP’s <keyword id="244459" type="PERSON" weightage="20" keywordseo="Parag-Shah">Parag Shah</keyword> won the Haryana vidhan sabha elections from the Ghatkopar East consituency with 53319 margin. He is the richest candidate to be contesting <keyword id="13126" type="LOCATION" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> state elections from the Ghatkopar East assembly. He declared assets worth ₹500.6 crore. His movable assets are worth ₹422 crore and immovable assets are worth ₹78 crore as per an <a href="https://timesofindia.indiatimes.com/city/mumbai/with-rs-500-crore-bjps-parag-shah-is-maharashtras-richest-contestant/articleshow/71450164.cms">affidavit submitted on Friday</a>. The properties are jointly owned by him and his wife. Shah is a real estate developer who owns and manages two construction companies. One of them is MAN InfraConstruction (MICL), a seven-year-old company which builds premium residential properties in Mumbai suburbs. He himself lives in a 5,710-sq ft bungalow in Thane, valued at ₹15 crore. Parag and his wife Mansi own 10 properties, jewellery worth ₹2.6 crore and a Ferrari California worth ₹2.45 crore. They also have shares which are valued at ₹299 crore. According to his IT returns, his annual income for 2018-2019 is at ₹13.7 crore. Whereas, his wife earned ₹11.4 crore during the same time. Shah’s political career began in two years back when he contested Mumbai civic election. Back then, he claimed to have assets worth ₹690 crore.

BJP’s Parag Shah, the richest candidate in Maharashtra, wins with more than half the vote share in Ghatkopar East

The real-estate sector had a neutral year last year with demonetization affecting it on the worse side. 
 
According to experts, there is a high possibility of prices softening in sub-markets which have seen a lot of housing supply in recent years, which means some unheard upcoming areas are seeing traction like never before. 
 Based on the data collected by 99acres we have encapsulated the performance of the real estate market in Delhi - <keyword id="53426" type="CITY" weightage="20" keywordseo="NCR">NCR</keyword>, Mumbai, and Bangalore for the year 2016. 
 
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Mumbai 
 
The city recorded a 20 percent YoY rise in sales volume in H1 2016. The affordable and mid-income housing segments drove maximum demand, especially in the micro-markets of Thane and <keyword id="57321" type="PERSON" weightage="20" keywordseo="Navi-Mumbai">Navi Mumbai</keyword>, while the premium sector remained subdued. 
 
• Bagging several big-ticket transactions in the year, Worli emerged as the new luxury housing destination in Mumbai. The locality recorded a YoY price appreciation of four percent. 
• Navi Mumbai emerged as a popular destination amongst end-users. The region clocked a rise in property registrations between April-October 2016. Registrations, however, dipped by a whopping 45 percent, immediately after demonetization. 
 
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Delhi-NCR 
 
• Developers restrained new residential launches in Delhi NCR, due to an inventory overhang and delays in obtaining construction approvals and clearances. New launches in the city, thus, dipped by 20-30 percent YoY. 
• By the end of H1 2016, Delhi NCR had about 2 lakh housing units still unsold. • Gurgaon and <keyword id="6356788" type="COMPANY" weightage="20" keywordseo="Greater-Noida">Greater Noida</keyword> collectively witnessed about 80 percent of the overall sales reported in Delhi NCR. Property rates in the region have decelerated by approximately five percent YoY. 
• By September 2016, nearly 25,000 housing units were handed over by developers in Noida and Greater Noida. 
• Gurgaon’s cosmopolitan status and a growth-conducive environment continued to attract private equity firms. The region alone clocked investments over $1 billion across residential, commercial and land categories. 
• The end of 2016 saw demonetisation severely hitting property inquiries and transactions across primary and resale markets in Delhi NCR. Sales volume dropped as an immediate aftermath of the move since buyers deferred purchase decisions anticipating the correction in property prices. 
 
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<keyword id="6354321" type="CITY" weightage="100" keywordseo="Bengaluru">Bengaluru</keyword> 
 
The city recorded approximately 21,800 new unit launches by the end of Q3 2016. 
 • <keyword id="129841" type="CITY" weightage="20" keywordseo="Hebbal">Hebbal</keyword> and <keyword id="636752" type="UNKNOWN" weightage="20" keywordseo="Thanisandra-Road">Thanisandra Road</keyword> in the North and <keyword id="4058012" type="UNKNOWN" weightage="20" keywordseo="panathur-varthur-road">Panathur-Varthur Road</keyword> in the East led the influx of new residential supply in the city. 
• More than 90 percent of the new project launches were reportedly made in the mid-segment category to cater to the active buyer base. 
• Sales volumes augmented by 5-6 percent during the festive season. Availability of ready-to-move-in apartments in affordable price brackets turned out to be an ideal combination for fence-sitters. • The rental market witnessed only a marginal hike in the year as supply superseded demand in localities near employment hubs. • Demand for plotted developments augmented near metro corridors due to higher Floor Space Index (<keyword id="6364765" type="ORGANIZATION" weightage="20" keywordseo="FSI">FSI</keyword>) being approved for projects falling within 500 m of the metro.

You Searched For "residential property in Mumbai" and got 12 results

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