Bengaluru offloads maximum inventory

In spite of its mounting infrastructure woes Bengaluru has witnessed a 32 per cent increase in home sales in the past 12 months. According to a recent report released by ANAROCK Property Consultants the city offloaded maximum residential inventory in the past one year in the country. As  a result of this the unsold housing stock in the city has declined by 25 per cent.  The share of affordable housing has risen dramatically in the last two years, increasing from 16 per cent in 2016 to 25 per cent in 2018. Mid-segment (Rs 40 - 80 lakh budget range) housing continues to dominate Bengaluru’s supply spectrum.

The report studies Bengaluru’s residential real estate trends since 2013, factoring in the city’s evolution in terms of infrastructure development, transport and connectivity. Given the ever-escalating challenges the city faces on these fronts, a marked preference for walk-to-work options by homebuyers has become evident. That said, Bengaluru’s overall market profile retains most of its sheen thanks to its highly favourable confluence of market drivers.  

Anuj Puri, Chairman – ANAROCK Property Consultants says, “Burgeoning commercial activity, a cutting-edge start-up culture and realistic property prices dictated by end-user demand have kept Bengaluru’s real estate market vibrant, and generally more resilient than in other cities. The strong IT/ITeS economic dynamo continues to power most of the city’s residential demand and supply, and housing sales have remained healthy despite all macroeconomic headwinds. Bengaluru’s housing sales increased by 26 per cent in Q3 2018 over the same period last year, the highest amongst all cities. Overall unsold stock declined by 32 per cent and stood at 76,550 units in Q3 2018 in contrast to 1,12,995 units in Q3 2015.

442 plots on offer in Noida’s ‘last’ allotment

As many as 442 plots of sizes varying between 200  and 200 sq m located in 17 sectors of Noida will be allotted by Noida authority soon. The decision has been taken after a recent survey of vacant plots in Noida. The  plots will be priced in accordance with the current circle rates. The plots are located in sectors  12, 31, 33, 39, 47, 48, 49, 51, 52, 55, 70, 72, 93-B,  99, 100, 105 and 122. Interested parties can apply till November 28. According to sources in the authority, this will most likely be the last allotment of plots in the city as there is no more land bank available anymore. 

NHB sanctions Rs 3,500 cr for PNB housing finance arm 

PNB Housing Finance Limited, India’s 5th largest Housing Finance Company by loan assets and second largest by deposits, has obtained re-finance sanction of Rs 3,500 crore from the National Housing Bank (NHB). The funds will be utilised for the specific sector wise disbursements / end uses as per norms of the respective NHB refinance schemes. Sanjaya Gupta, Managing Director, PNB Housing Finance Limited said, “We express our sincere gratitude to the National Housing Bank for their trust and believe in the Company’s robust operations, with fresh sanction of Rs 3,500 crore of long-term funding. This will not only strengthen the liquidity of the company but also help in boosting the economic growth”.  — TNS