The Indian real estate sector is witnessing one of the most interesting times ever recorded in the history.one of the Indian Real Estate Intelligence Service has ascertained and pitched the top 10 trends of the Indian Residential segment under the real estate sector.
The demand curve of Delhi -NCR is slowing down, this demand curve is stable in all other cities because of the new lunches in the upcoming residential corridors which are able to grasp the attention of the buyers and investors. While in the past Delhi-NCR has contributed to about one-third of the total new launches, with the marking slowdown of demand its total share of net absorption has resulted in a drop in percentage from 40 to 36 by the first quarter of 2014.
There has been a recurring high and lows in the supply graph of the real estate residential segment with the launches of various projects within this category. Concept homes and affordable housing has given rise to many residential corridors. Various new launched are made keeping the affordability factor in mind. These launches are majorly in the regions of Greater Noida and NH-8(Delhi-NCR), Western Suburbs and Thane (Mumbai), Also the Southern Indian region Whitefield and Hosur Road (Bangalore) and other southern regions of Chennai.
There has been a massive increase in the capital values across all cities. The new launches made at a higher price have resulted in the rise in price of some existing projects. On the pan India basis the prices have recorded a hike les then 2 percent quarter by quarter. This has been the case for the past three quarters. Lower floor prices have been one of the major reasons for cities like Kolkata and Pune under the tier II category to show immense growth. Chennai has the same story.
Expansion and Infrastructure
Builders and developers are looking for newer corridors in almost all locations. Bangalore is one of the best examples of this expansion where areas like Hennar Road are being touched when it comes to expansion. Also such projects reaching to the undiscovered areas are also low-price projects and also affordable to the buyers. The rising factor of such residential projects launched in the vicinity of such healthy infrastructure has resulted in to various developments. The upcoming projects are well-planned and positioned. The better connectivity to the metros and the newly constructed highways are a plus point rending better infrastructure to the upcoming projects.
Variety full Project Launches
A number of projects launched these days are based on a concept of three-bedroom-hall-kitchen. Various developers have launched many projects under the studio apartment segment. These projects are low-budgeted and also attract a lot of buyers. The Macroeconomic conditions are also of no effect as the luxury projects and service apartments are coming up and such projects are seeking great attention of the buyers.
The vacancy rate has increased with the increase in apartment units. There has been a massive increase in the cities like Pune Hyderabad and Bangalore. The market is seeing massive expansion.
Sentiments across Channels
The sentiments of the buyers remain weak as the interest rates are increasing and on the other hand the residential price is also seeking hikes. Due this rising increase the investors have become cautious about their investments and they are targeting only selected projects. Long hopes of better real estate condition are clinging with the newly elected government. The sentiments of the developers are neutral as they await some positive wave in this sector with improvements and flexibility also they are looking forward to a policy change to streamline their process. The low-ticket project launches are still on their target list.
Regions like Mumbai, Bangalore, Chennai and Pune are undergoing rental hikes all across the residential sector. The prices and rental structure of the various high end properties in Delhi NCR underwent a correction substantially. Areas of Hyderabad and Kolkata have seen a rental and price stagnation for a longer time.