India's real estate sector limps back to life: Anarock Property Consultants report

A report by Anarock Property Consultants — Is the real estate market seeing an upward surge — revealed that positive consumer sentiments and favourable policies has helped the Indian real estate sector coming back on track. It says that the year 2018 started on a positive note with the first quarter recording a quarter-on-quarter increase in housing sales. With nearly 1,800 unit sales added across the top seven cities, the month of April alone saw a 25 per cent increase in absorption across the top seven cities as against March. The report also states that the maximum focus was on affordable housing.

The report further states that, new housing supply stock increased by 6 per cent in this one month alone, with developers actively tapping into the reviving demand and adding around 15,200 units in April 2018. Anarock data indicates that the new housing supply infusion was highest in NCR, followed closely by Hyderabad, Bengaluru, and the Mumbai Metropolitan Region (MMR). NCR saw a whopping 59 per cent increase in its new housing stock in April as against the previous month. Simultaneously, Bangalore and MMR – which dominated the market with maximum new stock in March — saw a drop in the supply infusion in April.

According to the report, NCR was ahead on the sales front with a 153 per cent increase in April as against the preceding month, while MMR witnessed a 29 per cent increase. Of the total new supply in April, nearly 43 per cent was in the affordable housing category.