Ready-to-move-in house supply to increase by 2020

A recent report released by real estate consultancy firm Anarock states that nearly 2.75 lakh ready-to-move-in houses will be available in the market by the end of 2020 in the top seven real estate markets of the country.  The top seven real estate markets are NCR, Mumbai Metropolitan Region (MMR), Pune, Hyderabad, Chennai, Bengaluru and Kolkata. It further adds that the highest number of these units (68,070) will be delivered in the National Capital Region (NCR), while the least number will be available in Chennai. The reason for the increase in the delivery of ready-to-move-in flats is because overdue projects are attracting penalty by the real estate regulatory authority (RERA).

As per the report, nearly 13.1 lakh housing units, launched between 2014 and Q3 of 2019, are in various stages of construction in the top seven cities of the country and nearly 21% of such units are to be delivered by the end of next year. The report further states that nearly 41% of these houses (1.13 lakh) are in the affordable housing category (priced at less than Rs 40 lakh), 33% ( 90,770 units) are in the bracket of Rs 40 to Rs 80 lakh and 16% are in the range of Rs 80 lakh to Rs 1.5 crore. The remaining 10% units fall in the ultra-luxury segment.

According to Anuj Puri, chairman Anarock Property Consutants, the developers are aware that ready- to-move-in homes are in great demand and, as such, they are working overtime to complete the projects in time. “Most buyers are focused on the affordable and mid-range segments (priced below Rs 80 lakh) and will have ample choice once this ready inventory hits the market by the end of next year. An overwhelming 74% or approximately 2.04 lakh units fall in these two segments,” he said.

×
×

Post Your Comment


"Content that powers your Business. News that keeps you informed."

Surfaces Reporter is one of India's leading media in Print & Digital Telecast for News on Interiors & Architecture Projects, Products, Building Materials, and the Business of Design! Since 2011, it serves as a referral for designers & architects to know about inspiring projects and source new products. If you have a Product or Project worth publishing in Surfaces Reporter, please email us hello@surfacesreporter.com or you can also submit your project online.

Like Surfaces Reporter on Facebook | Follow us on Twitter and Instagram | Subscribe to our magazine | Sign Up for the FREE Surfaces Reporter Magazine Newsletter

Bugatti Forays into Residential Real Estate with Opulent Skyscraper in Dubai | Bugatti Residences

The development will consist of 171 apartments, named Riviera Mansions, and 11 luxurious penthouses known as Sky Mansion Penthouses.

Read more

Women Earn 30-40% Lesser Than The Men In Indian Construction & Real Estate Industry: A Report

A report released by the World Trade Center and Consulting firm Primus Partners on the current status of Indian women in the construction and real estate industry suggests that informal women construction workers in India earn 30-40 per cent less than their male counterparts.

Read more

Budget 2023-24: Reactions from Corporate and Real Estate Experts

Post-budget reactions from real estate and building industry veterans on the major Budget announcements.

Read more

Why is the Demand for Affordable Housing Down - Anarock Report and Budget 2023-24

SURFACES REPORTER #newscatchup - Mumbai, 30 January 2023: Indias residential real estate sector looks hopefully to Budget 2023-24 to boost the countrys flagging affordable housing segment.

Read more


This is alt