50 per cent home buyers prefer larger homes
01 Apr 2024
Long Read
The ‘bigger is better’ mantra continues to drive the Indian housing market. The FICCI-ANAROCK Consumer Sentiment Survey (H2 2023) found that the highest homebuyer demand is now for 3BHKs, particularly in Bengaluru, Chennai, Hyderabad and Delhi-NCR, with at least 50 per cent respondents choosing it. 38 per cent respondents favour 2BHKs. In hyper-pricey MMR, 44 per cent of respondents preferred 2BHKs. The demand for 1BHK units is being primarily evident in Western markets of MMR (17 per cent) and Pune (10 per cent). No less than 75 per cent property seekers now want balconies and over 73 per cent survey respondents said that their home buying decision will not be impacted if home loan rates stay below 8.5 per cent.
General elections: Will the housing market create another peak, like 2019, in 2024?
General elections and residential real estate appear closely linked, at least that is what the previous two election years’ data trends indicate. 2014 and 2019, both election years, saw housing sales create new peaks. Anuj Puri, Chairman, ANAROCK Group, says, “A major factor driving the housing market’s phenomenal performance in 2014 and 2019 would have been the decisive election results.” India’s residential real estate sector witnessed a major slowdown between 2016 to 2019 and from 2019 onwards the first green shoots of revival were temporarily dampened by the pandemic in early 2020. Thereafter, against all expectations, the housing market went into overdrive from 2021 and the momentum continues till date. “All signs currently favour the residential market in 2024 and the year can well create another peak in housing sales,” says Puri.
Contact: ANAROCK Group
Tel: 022-42934293
Website: www.anarock.com
Crib to digitise India's multi-billion student housing, co-living market
Crib, a property management app founded by Sunny Garg, Shaifali Jain and Archit Chauhan in 2021, unveiled its latest product, Crib Plus, a pro version of their current tool. Crib invested over $1 million to develop Crib Plus. The new version will cater specifically to the needs of large-scale student housing and co-living brands.
A Colliers report revealed that India’s co-living market is on track to double by 2024. Additionally, a study conducted by Colliers India projected exponential growth in the student housing sector, driven by an anticipated influx of students reaching 31 million by 2036.
Contact: Crib
Email: support@crib.in
Awfis expands its footprint in Bhubaneshwar
Awfis, India’s largest flexible workspace solutions company in India based on total number of centres, has expanded its footprint in Bhubaneshwar by opening its third and the largest centre in the city, spread across almost 0.1 million sq ft strategically located in Odisha Technology Centre, Anand Bazar. The design ethos draws inspiration from Odisha’s heritage, including its classical dance, picturesque beaches and the iconic Sun Temple, a UNESCO World Heritage site and elements such as Pattachitra coconut paintings and hand-painted wall sets. The colour palette of the space takes cues from the natural beauty of Bhubaneshwar’s historical monuments, beaches and verdant mountains.
Contact: Awfis
Website: www.awfis.com
Sunteck West World receives EDGE Green building certification
Sunteck received its EDGE Green building certification from IFC, a member of the World Bank Group for its project ‘Sunteck West World Naigaon’. The project’s design provide substantial environmental benefits including energy savings of 23 per cent, water savings of 34 per cent and embodied energy savings of 38 per cent. By designing a project that meets this exceptional level of environmental performance, the project will have a lasting impact not only on end users, but also on the larger community for years to come.
Contact: Sunteck
Tel: 2261989898
Email: info@sunteckindia.com
Website: www.sunteckindia.com
Foreign investors infuse $4 billion per year in Indian real estate
Colliers launched its latest insights into the year ahead for the Asia Pacific real estate. With IMF’s projected GDP growth rate of 5.7 per cent in 2024, India is one of the fastest-growing economies. “Global investors [US, Canada, Singapore, Hong Kong, South Korea and Japan] have infused $4 billion annually in the last five years,” said Piyush Gupta, MD, Capital Markets, Colliers India. Looking ahead, investors are expected to increase activity in India’s real estate market.
Contact: Colliers
Website: www.colliers.com
Zaramount unveils luxurious living in Goa with its Casa Havana and Casa Vino villas
Zaramount, has launched two extraordinary villa series: Casa Havana and Casa Vino. Nestled along the banks of the enchanting Moira River, with six villas spread across 2,475 sq metres of lush land, Casa Havana presents a symphony of elegance and tranquillity. Each villa boasts five bedrooms and bathrooms and a private swimming pool with Jacuzzi. Each of the five Casa Vino villas is named after a variety of fine wine. Floor-to-ceiling windows invite Goan sunshine, creating a seamless connection between indoor and outdoor spaces. These three-bedroom villas, spread over 1,500 sq metres, represent the future of living. Zaramount’s Casa Havana and Casa Vino villas stand testament to luxury, innovation and community integration.
Contact: Zaramount
Website: www.zaramountllp.com
Sobha initiative:220 underprivileged women-led families get homes for free
Sri Kurumba Educational and Charitable Trust, the Corporate Social Responsibility (CSR) arm of Sobha, is dedicated to giving back to society through education, healthcare, elderly care, women empowerment, housing and green initiatives, all free of charge. Its latest initiative, Griha Sobha 2024, provides free housing benefit to 220 underprivileged women-led families in Palakkad. The trust handed over keys for its first set of 100 homes at no cost to beneficiaries and the foundation stone was laid for another 120 homes.
Contact: Sobha
Tel: 080 46464500
Email: webfeedback@sobha.com
Website: www.sobha.com
Peninsula Land project, Salsette27, achieves the coveted IGBC Platinum Certification
Salsette27, a sought-after residential project managed and marketed by Peninsula Land, has achieved a Platinum Certification from Indian Green Building Council (IGBC) and is one of 10 buildings in Mumbai to achieve this certification. The energy-efficient apartments translate to consuming less power, which means a relatively lower expenditure on electricity and a smaller carbon footprint. The building is also equipped with solar lights and solar water heaters as well as solar-powered waste and sewage treatment plants. An integrated building management system and multiple EV charging for all car parks enhances its appeal for EV owners. Its huge list of sustainability features clearly differentiates it from the rest.
Contact: Peninsula Land
Tel: 22 6622 9300
Website: www.peninsula.co.in
Bengaluru's White Lotus Group targets Rs.12 billion revenue in FY'24
The White Lotus Group unveiled plans for its latest villa projects in the North Bengaluru Area. The company is estimated to generate a revenue potential of Rs.12 billion. The group has pushed boundaries with projects like Aravindaksha, Kalpavriksha, Amaranta, Anora, Ohana and Tamara. It recently secured a substantial funding round of Rs.1.5 billion from Dubai-based Luxe Port Group of Companies, which will fuel its growth plans strengthen its brand presence in Bengaluru and facilitate expansion into other major cities like Hyderabad, Pune and Chennai.
Contact: White Lotus Group
Email: info@whitelotusgroup.in
Website: www.whitelotusgroup.in
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