REAL ESTATE

CRE Matrix presents the July 2024 Market Research Report - In & Around MMR, highlighting key trends in plotted development. Raigad remains a leader, with a surge in plot launches driven by major projects like Godrej Hillview Estate. Demand is rising, with over 700 units sold in 2023 and an ongoing upward trend in 2024. Average ticket sizes have surged, with plot prices growing from ₹12 lakhs in 2019 to ₹46 lakhs in 2024, and villa prices jumping from ₹128 lakhs to ₹281 lakhs. Infrastructure developments are boosting interest in Thane and Manor-Palghar, making them attractive for investment. While Igatpuri, Karjat, and Lonavala are popular, Kasara is emerging as a new star, with a 14% rise in average PSF rates since 2019. Tap here to download the full report and explore emerging markets like Kasara, Manor, and Karjat.

CRE Matrix presents the MICRO-MARKET INSIGHTS REPORT of Bengaluru (North-West). This bustling macro-market houses 27% of Bengaluru’s population and boasts superior connectivity to key employment hubs and transport nodes. A significant ₹15,804 Cr. investment is underway to further enhance its infrastructure. The PRYM region (Peenya, Rajajinagar, Yeshwanthpur, Malleshwaram) stands out with Bengaluru's lowest AQI of 29, attributed to its extensive green cover. Despite the city’s ₹1 Lakh Cr. productivity loss due to congestion in areas like Outer Ring Road and Whitefield, major companies such as Amazon, H&M, Regus, and Samsung are strategically expanding their real estate portfolios in North-West Bengaluru.

CRE Matrix and CREDAI Hyderabad are pleased to present their Hyderabad Housing Report for July 2024, highlighting remarkable achievements in the city's real estate market. In the first half of 2024, Hyderabad recorded a total home sales value of ₹58,841 Cr, marking the highest yearly sales value in five years. Housing unit sales surged by 148%, with 38,643 units sold compared to H1 CY'19. The ₹5-10 Cr segment saw a 449% increase in sales value, reaching ₹7,427 Cr, while the average value of flats sold rose by 44% to ₹1.5 Cr. Overall, the value of units sold grew by 257%, and the above ₹10 Cr segment experienced a phenomenal 63x growth in sales value, totaling ₹4,861 Cr, all compared to H1 CY'19.

CRE Matrix and Sotheby’s present the Luxury Housing Report for H1 CY’24, revealing unprecedented growth in Mumbai's luxury home market. The city’s primary and secondary luxury home segments reached a record ₹12,300 Cr. in sales, with the secondary segment alone seeing a 37% year-on-year increase to over ₹3,500 Cr. The top 10 localities contributed 80% of these sales, with Worli leading at 31%. Over the 12-month period from H2 CY'23 to H1 CY'24, 1,040 luxury units were sold, marking a historic peak. Notably, 53% of buyers in the >₹10 Cr. segment are aged between 35 and 55.

In the fiscal year 2024, the Mumbai Metropolitan Region (MMR) experienced a notable uptick in sales, marking a nearly 5% increase compared to the previous fiscal year, FY’23. This growth contrasts with a significant 22% decline in the launch of new residential units during the same period. Concurrently, unsold inventory saw a modest rise of 5% by the end of FY’24 in comparison to FY’23. Despite the reduced supply of new units across MMR, the region observed a 4% appreciation in apartment values from FY’23 to FY’24. This trend underscores sustained demand in the market, contributing to the appreciation in property values despite the decrease in available inventory.