MahaRERA is constantly in touch with the concerned collector offices to collect the warrants issued by MahaRERA for compensation to the customers. Due to the pursuit of MahaRERA, the processes of auctions have been started by confiscating the properties of the concerned developers in many places.

In some other places developers are coming forward to pay these compensation amounts or settle the issue of compensation by compromising with the concerned consumers to avoid forfeiture of their property.

Rs 8.73 crore have been paid as compensation by 5 developers in Mumbai city, Mumbai suburbs and Pune for 9 warrants. Rs 8.57 crore for 20 warrants by 11 developers was paid earlier.

MahaRERA has so far issued 1015 warrants for recovery of Rs 623.30 crore. Out of these, MahaRERA has so far been able to recover an amount of Rs 131.32 crores against 180 warrants. MahaRERA is continuously trying to recover the remaining amount.

Among those who deposited money or compromised with customers were Samriddhi Developers in Mumbai city and Wondervalue Realty Pvt. Ltd. Rs 6.46 crore was paid by these developers of which Wondervalue developer has given a compensation of Rs 6.26 crore to a homebuyer.

In Mumbai suburbs too, Reliance Enterprises and Ruchi Priya Developers Pvt. Ltd. have paid compensation of Rs 1.84 crore of which Reliance Enterprises has paid Rs 1.78 crore as compensation to one home buyer

Darode Jog Homes Pvt Ltd in Pune has also paid a compensation of Rs 42.25 lakh to one of the homebuyers.

Also Read: 88 Realty Projects approach MahaRERA to cancel their Registration

The post Rs 8.73 Cr recovered from 5 developers in Mumbai and Pune from 9 warrants of MahaRERA appeared first on Square Feat India.

The Convention will have a diverse range of seminars with a focus on four distinct themes. The conversation will be based on Water Saving, Empowering Real Women in the Real World, Green Building & Sustainability, And Start-ups. It will spark lively debates about how the Real Estate Industry can successfully recycle WasteWater and transition to net zero water waste, as well as how the sector can provide sustainable, energy- and water-efficient solutions. It will also shed light on the essential components of gender integration, how society is moving in the direction of Empowering Women, Gender Pay Equity in the Real Estate Industry and Underrepresentation.

The Convention’s goal is to highlight the contributions and potential of women in real estate while also engaging in meaningful discussion about some crucial issues facing the sector, such as sustainability, environment conscious practices and industry-wide policy frameworks, and innovative technology in Real Estate Development.

The Themes for the Sessions will include: ways to go Jal Bachao Kal Bachao, Empowering Real Women in the Real World, Green Building & Sustainability and Entrepreneurial Mindset: Scale & Growth of Indian Start-up.

The convention will bring together executives from the public and private sectors as well as the management of NAREDCO and NAREDCO Mahi. Shri Parveen Jain, Chairman, NAREDCO; Dr. Niranjan Hiranandani, Vice Chairman, NAREDCO, Shri Rajan Bandelkar, President, NAREDCO; Dr. Ananta S. Raghuvanshi, President, NAREDCO Mahi will grace the occasion. Some well-known dignitaries and keynote speakers who will likely address the gathering are Mr. Gurmit Singh Arora, President, Indian Plumbing Association; Mr. Ramveer Tanwar, Pond Man of India; Mr. Sanjay Dutt, CEO, Tata Housing; Padmashri Popatraoji Pawar; Smt. Sampat Devi, Gulabi Gang and Mr. Kavindra Taliyan, Ex CEO, Atal Incubation Centre, NITI AAYOG and Member Steering Committee, Ministry of Communications. Professionals, service providers, and business owners from all across the country will also have the chance to network and gain from the sessions.

“Over the past decade, the Real Estate Industry has undergone substantial upheaval. The industry has changed from being mostly informal and unorganised to becoming more structured and organised. Some good talent, regardless of gender, has emerged as a result of the sector’s formalisation and consolidation. The entry of large corporations into the sector has also increased opportunities for professional women.This does not negate the fact that there are still areas of the Real Estate market where women find it difficult to get into. Therefore, it will be beneficial to see women in top positions in the Real Estate Sector since they will act as mentors and role models for the subsequent wave of female workers. Furthermore, women have acquired the trust of their peers, bosses, and clients in order to prove their worth in the real estate industry, or any other profession for that matter.” said Dr. Ananta S. Raghuvanshi, President, NAREDCO Mahi.

“Women have been breaking free from the constraints of a patriarchal society in recent years, reaching new heights in a variety of fields, including real estate. The fact that the industry is now much more organised and provides equal opportunity for everyone is one of the major paradigm shifts. Businesses are increasingly considering adopting a more inclusive workplace culture. Additionally, more and more women are ascending to executive roles in the Real Estate Sector, shattering the adage about the “glass ceiling.” Moving forward, we must maintain our focus and create ‘Policy Frameworks’ that can draw a broad workforce to real estate careers. To create a more diverse, equitable, and inclusive workforce, organisations must continue to prioritise Diversity, Equity, and Inclusion (DE&I) efforts.” Stated Rajan Bandelkar, President, NAREDCO.

The skill and ingenuity that Women possess has been well recognized, and women are building their repertoires in the Real Estate and various asset classes, as executives, promoters, architects, designers, developers, realtors, lawyers or consultants, among others.

The main goal of NAREDCO Mahi is to provide women leaders and business owners with a platform that will further enable inclusion, knowledge sharing, mentoring, and networking in order to advance the Real Estate and housing industries by empowering women to participate in the creation of National Policies, Programmes, and Fiscal Reforms. The mission of NAREDCO Mahiis to advance equality of opportunity and professional competence. A new wave of Female Entrepreneurs is emerging in the Real Estate Sector as more and more women actively participate in all facets of Real Estate Development, purchase, and sale.

Also Read: NAREDCO Property Expo at BKC from Sep 30 to Oct 2

The post NAREDCO MAHI ANNOUNCES ITS 2ND NATIONAL CONVENTION appeared first on Square Feat India.

The office segment in India has been one of the fastest to recover from the impact of the pandemic. The recovery has been so phenomenal that India’s Grade A office market across the top seven cities is poised to grow to over 1 billion sq ft in size by 2026, said a JLL paper titled ‘Reimagining, Reinventing and Redefining Real Estate 2030’released today at the National Real Estate Development Council (NAREDCO), Maharashtra’s flagship event, The Real Estate Forum 2022 where JLL associated as a Knowledge Partner.

• Flex market to double its footprint across the top seven cities by 2025 to ~75 million sq ft; to cross the 100 million sq ft mark by 2030
• New supply of office space likely to be green-rated to an extent of 70-75% even as older projects look to upgrade and reduce their carbon footprint
• Mortgage to GDP ratio to touch 20% by 2030

In the post-Covid world, the flex space segment is expected to grow and be a mainstream occupier segment with operator-landlord partnerships creating superior office assets. As a result of the evolution to a more distributed work model, occupiers will look at strategies to not only make their portfolio more agile but also tap into the talent pool from emerging urban centers. The flexible space segment will play a key role in supporting occupiers’ growth strategies given the changing dynamics of portfolio optimization and employee needs. As such, the flex market is expected to double its footprint across the top seven cities by 2025 to ~75 million sq ft and cross the 100 million sq ft mark by 2030.

Karan Singh Sodi, Regional Managing Director, Mumbai & Ahmedabad, JLL said,

“Given the growth dynamics, India’s Grade A office market across the top seven cities is poised to grow to over 1billion sq. ft in size by 2026 and touch 1.2 billion sq ft by 2030. India will continue to remain the leader in technology outsourcing and will build on its gains as the biggest R&D and Global Capability Centre hub across financial services, software development, new technology, artificial intelligence, and machine learning. Also, with the country’s renewed focus on making itself a manufacturing hub, engineering and manufacturing firms will set up large R&D centers here, making its office market the most dynamic in the region. It has already proved itself as the global vaccine hub making it a healthcare and life sciences R&D leader. India may potentially account for over2/3rds of all occupier activity in the Asia Pacific region.”

The office and the residential segments in India have seen a very smart and sustained recovery in the past few quarters. With investor confidence back, as witnessed by the rise in total institutional investments in the Indian real estate segment, we are well poised to grow exponentially in the next few years. What is most heartening to witness is the occupiers’ focus on sustainability and green solutions to help reduce the carbon footprint.

Mr. Sandeep Runwal, President, NAREDCO Maharashtra & MD, Runwal Developers, said, “One of the highlights of the post COVID world has been the recovery of the office segment and this segment is expected to grow to over 1 billion sq ft in size by 2026 across seven cities which includes Delhi, Mumbai, Pune, Chennai, Kolkata, Bangalore, and Hyderabad. It’s an interesting development which we believe is an apt topic to focus on at the NAREDCO Maharashtra flagship event The Real Estate Forum 2022.”

Sustainability is the key to the future

India’s commercial Grade A office stock across the top seven cities has a 42% green-certification penetration. The penetration of green-certified buildings is likely to cross the 50% mark overall over the next decade. In fact, new supply is likely to be greenrated to an extent of 70-75% even as older projects look to upgrade and reduce their carbon footprint. With occupiers driving the green agenda and willing to pay a premium for such green buildings, affirmative action on net zero carbon pledges by occupiers will push the commercial office segment towards setting aggressive sustainability and net-zero carbon targets.

India’s listed REITs would be one of the leading markets in the Asia Pacific

The market capitalisation of listed REITs which stood at USD 8 billion currently is expected to grow manifold with the specialized REITs market developing in the next few years. This will also lead to increased retail participation. Consolidation of rent yielding assets across segments Institutional investments in rent yielding assets across segments will increase leading to higher consolidation of assets. Portfolio deals will become prominent.

Urban logistics grows on the back of e-commerce

The rise of e-commerce and the ‘within-15-minutes delivery’ has been the powerful engine for the growth of the urban logistics and in-city logistics story. Multi-story warehouses would also act as the next step in logistics for effective utilization of land at the last mile delivery locations as well as peripheral logistics. On-demand warehousing offers flexibility and agility to direct-to-consumer sellers to avail of order fulfillment or warehousing services as and when required. With an omnichannel focus, customers expect new alternatives such as buying online and pickup in-store or shipping from the store.

Also Read: Platform funds gain prominence with USD 1.9 billion announced during Q1 2022

The post India’s Grade A office market is likely to touch 1.2 billion sq ft by 2030 appeared first on Square Feat India.

Housing demand (searches) in Mumbai grew 15.2% while supply (listings) grew 3.8% QoQ, revealed Magicbricks PropIndex Report Q1’ 2022. The report further observed that in Mumbai, smaller-sized 1 and 2 BHK apartments dominated the homebuyers’ preference and cumulatively accounted for 69% of the demand and 73% of the supply, during the period. The demand and supply for 2 BHK configurations accounted for 40% and 42%, respectively.

Navi Mumbai exhibited a similar trend with demand for 2 BHKs accounting for 48% of the total demand and 46% of the total supply in Q1 2022. In Thane, smaller configuration homes continued to dominate the housing market with 1 and 2BHK units comprising 78% of the total demand and supply, and 2 BHK constituting a demand share of 43%.
The report further identifies Malad and Kandivali as the residential hotspots in Mumbai during the quarter. While the overall upsurge in housing demand and supply in Mumbai was majorly driven by regulatory initiatives like the reduction of construction premium charges by half; western suburb localities such as Andheri, Borivali-Dahisar, Goregaon, and regions beyond Mira Road witnessed the highest demand and supply during the quarter due to proximity to commercial office spaces, affordable pricing, and construction of the metro line.

Speaking from the demand perspective in the region, Shraddha Kedia-Agarwal, Director, Transcon Developers said, “The Malad-Kandivali location is one of Mumbai’s popular suburbs that enjoy excellent connectivity and a robust social infrastructure. The suburbs’ skyline has completely transformed with several high-rises that offer stunning views of the natural and splendid surroundings in the region. The location also enjoys excellent connectivity to Bandra-Worli Sea Link, Western Express Highway along with both domestic and international airports. With Metro rail being partially operational, and other infrastructural developments like the GMLR and the coastal road in progress, it is definitely emerging as a prominent realty destination.”

New Panvel, Kharghar, Airoli, Taloja, Vashi, Kamothe, and Nerul were observed to be the most preferred localities in Navi Mumbai due to their connectivity to the rest of MMR. In Thane, localities such as Ghodbunder road and Dombivali continued to be the preferred micro-markets supported by factors such as connectivity, good amenities, and better access to employment hubs.

Rajat Rastogi – Executive Director, Runwal Group said, “The Thane-Dombivli location is the fastest growing micro-market in the Mumbai MMR region, the locality has witnessed considerable growth in residential real estate. Due to the upcoming infrastructure and connectivity with Mumbai & Navi Mumbai; it is fast becoming the preferred choice of first time home buyers. Also, the Work-from-Home concept allowed the potential home-buyers to opt for bigger homes in this region whilst staying close to the city.”

The report predicts an onward trajectory for 2022 due to external stimuli such as digitization of land records, and increased allocation of INR 48,000 crores under PM Awas Yojna and PM Gati Shakti that are expected to further strengthen infrastructure and boost investments in the real estate sector.

Also Read: Kalpataru launches residential project, in Baner, Pune

The post Residential demand in Mumbai increases 15.2 percent appeared first on Square Feat India.

By Varun Singh

Activity in India’s residential real estate segment has seen a further increase in the first three months of the year 2022 as record low home loan interest rates fuel consumer enthusiasm along with government-sponsored subsidy programmes.

According to a report by online real estate portal PropTiger.com, which is part of REA India that also owns Housing.com & Makaan.com, home sales and new launch numbers have shown a year-on-year growth in the period between January and March, 2022.

The report by the Gurgaon-headquartered company shows 70,623 units were sold in Q12022 as compared to 66,176 units sold in Q12021, registering 7% YoY growth. The improvement in terms of new supply was significantly higher, with a YoY growth of 50% in new launches during the same period. A total of 79,532 units were launched in Q1 2022 as compared to 53,037 units in Q1 2021.

The markets covered in the quarterly report, titled Real Insight Residential – January-March 2022, include Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region, Delhi-National Capital Region and Pune.

“India’s housing sector is again emerging as a bright spot in the country’s economy, helping it spring out of the pandemic-induced slowdown. With further normalization of activity in the months to follow, we expect greater positive changes,” said Dhruv Agarwala, Group CEO, PropTiger.com, Housing.com & Makaan.com.

79% sales in Q1 reported in under-construction segment

In a quarter during which the demand for housing units priced in the range of Rs 45-75 lakh was the highest, Mumbai and Pune had the biggest share in housing sales, with their combined share standing at 56% in the overall sales.

Even though the recent joint consumer survey conducted by the group company of REA India, Housing.com and Industry body NAREDCO, found that 57 per cent of potential homebuyers would prefer to buy a ready-to-move-in (RTMI) property, 79% of the sales during the quarter ended in March was seen in the under-construction category, mainly because of the price advantage this segment offers over the ready to move in segment.

Half the cities show decline in launches

The MMR market did the heavy lifting in terms of new supply in the quarter ended March 31, demonstrating a 246% increase YoY. The stellar performance by this market was mainly responsible for an overall good performance of the housing market on this parameter as four of the eight markets covered in the analysis showed a decrease in new launches. Cities where new launches showed a decline during the March quarter include Ahmedabad, Chennai, Delhi-NCR and Kolkata.

Property prices climb too

As expected, housing price growth also accelerated during the quarter, with every market covered in the analysis showing an upwards movement in average rates of new properties. Most of this increase in rates can be attributed to the hike in prices of building materials.

The sharpest uptick in property prices was registered in Chennai, where average rate of properties has undergone a 9% appreciation in the past one year, the report shows. Pune and Ahmedabad followed this southern market closely in terms of price increase, with both markets witnessing an 8% rise in their average property rates.

Agarwala is of the opinion that house ownership may become pricier with various government-funded subsidy schemes coming to an end in March this year. This price appreciation would be further compounded by rising home loan rates if the RBI were to hike the benchmark lending rate, which may well be on the cards given inflationary pressures.  So far, the country’s central bank has maintained the repo rate— to which home loan interest rates in India are linked— at 4%.

Housing inventory increases marginally amid higher supply numbers

As activity in housing supply picked up pace, housing inventory swelled slightly, at an annual rate of 4%. Builders in India are sitting on an unsold stock consisting of 7,35,852 units as on March 31, 2022. This number stood at 7,05,344 units at the end of March 2021. With an individual share of 35% and 16%, respectively, Mumbai and Pune continue to contribute the most to this national housing inventory.

However, inventory overhang— the estimated period builders are likely to take to sell off their unsold stock— has declined to 42 months as against 47 months a year ago, primarily because of higher demand for housing.  Delhi NCR has the highest inventory overhang while Bangalore and Kolkata have the lowest.

Also Read: Stamp Duty extension to boost Real Estate

The post Residential real estate continues growth momentum in Q1 appeared first on Square Feat India.

By Varun Singh

This is one of the biggest realty deal concerning a parcel of land that took place in the year 2021

A land measuring 14371.56 square meters was bought by Oberoi Constructions Ltd in Bhandup.

According to sale certificate accessed by SquareFeatIndia provided by Zapkey.com, the land is located in Bhandup West.

The industrial land along with machinery was sold by the Debt Recovery Tribunal No 1, Mumbai.

The land was purchased by Oberoi Constructions for a total amount of ₹115.54 crore.

According to documents the ready reckoner rate of the land is ₹119 crore.

The land is located on the Mumbai-Agra road in Bhandup West.

The documentation in regards to this deal was carried out on November 24, 2021 while the next day it was registered.

A stamp duty of ₹5.96 crore was paid for the registration of the land deal.

The Tribunal according to a report conducted the e-auction on September 15 for recovery of debt from Industrial & Agricultural Engineering Company (Mumbai) Pvt Ltd.

Also Read: Sushant & Ankita had bought 2 different flats in 2013

The post Oberoi buys Bhandup Land for ₹115 Crore appeared first on Square Feat India.

By Varun Singh

With the new culture of work-from-home and online education post Covid, there has been an increased need for larger homes, especially for families with working couples.

As per Knight Frank India, about 83% of sales concentrated in Mumbai in the up to 1,000 sq. ft housing segment, indicating the continuing demand for larger homes in 2021. The up to 500 sq. ft segment contributed to 42% of the total registrations in 2021, followed by 500-1,000 sq. ft, which accounted for 41%. The 1,000-2,000 sq. ft segment contributed 13% of housing sales.

Highlighting the trend, Navin Makhija – Managing Director, The Wadhwa Group said, “The world resurrecting to the pandemic of Covid-19 has made people realized the importance of a well-planned, well-designed, and well-ventilated home during the pandemic more than ever before. There is an increase in demand for larger homes with the prevalent work-from-home culture and families spending more personal time at home, wherein the units with extra space/study room/decks emerged as the best-performing category. People now want to have a separate place inside the house for various tasks such as office work, online schooling and recreational activities. Demand for larger homes has risen ever since the pandemic where people can relax and work while with keeping themselves fit and enjoy life with their loved ones in new ways. Developers too are gearing up for this new trend and conceptualizing their product in innovative ways to meet the consumer demand. For first-time buyers who are moving from rental accommodation to owning but still want in the middle of the city are preferring spacious 1&2 bhks and additional study room / balcony is an added advantage.”

Reiterating the same, Pritam Chivukula – Co-Founder & Director, Tridhaatu Realty and Hon. Secretary, CREDAI MCHI said, “The increased affordability together with the pandemic encouraged the need for bigger homes which fueled rapid increase in the potential home buyers in the Mumbai region. The market experienced an increased demand for two and three BHK homes in the city in the year 2021. The pandemic has brought forth the concept of “work from home” in a larger way thereby highlighting the need for larger homes with planned spaces. With the home loan interest rates at an all-time low, the gap between rents and EMI too diminished considerably. This has led to the transition from rented to owned apartments. The next largest segment is the “upgrade” set of buyers who have understood and accepted the need for larger living spaces. Projects which offer larger open and green spaces along with lifestyle amenities also saw a better demand and it will only continue going forward.”

According to Anarock Property Consultants, in the past two years, demand has been skewed towards homes that are large enough to accommodate the new WFH and e-schooling realities. The average sizes of new unit launches have risen by 26 per cent.

There was a high demand for larger houses and as a result, mid-segment (units priced between Rs 40 lakh-`Rs 80 lakh) and high-end (units priced between Rs 80 lakh- Rs 1.5 crore) did well. Altogether, around 65 per cent of the supply between January-September came in these segments.

Commenting from the demand perspective, Sandeep Runwal, President, NAREDCO Maharashtra and Managing Director, Runwal Group said, “Owing to the pandemic, homebuyers have grasped the significance of living in larger homes that offer healthy lifestyle amenities, safe and secured environment. There is a clear trend of demand for mid-size and larger homes by the current Mumbai home buyer. Initially, this trend was ascribed to the stamp duty exemption accorded by the Maharashtra Government. However, the fact that this direction has continued despite the State Government withdrawing the stamp duty concession points to its longevity and permanence. Apart from the low-interest rates, the consumers’ realization of owning a home along with key policy measures has been the growth drivers for the real estate sector in the past year. Additionally, work from home and school from home policy has increased the demand for larger homes and we expect this strong demand to continue this year as well.”

The Anarock report highlighted that the luxury and ultra-luxury segment fared well as the net worth of the target group for luxury offerings was not severely impacted by the Covid-19 pandemic. These homebuyers pro-actively closed deals to take advantage of market conditions.

Also Read: Home Prices To Go Up Or To Remain The Same?

The post Homebuyers preferred larger homes in 2021 appeared first on Square Feat India.

By Varun Singh

Continuing to reap dividends from the post-pandemic surge in demand for branded homes, the top 9 stock exchange-listed developers raked in INR 14,883 Cr of revenue bookings in H1 FY22 – a sharp uptick from INR 9,483 Cr in the same period of the previous fiscal.

Even as the second COVID-19 wave wreaked economic havoc during Q1FY 22, these players effectively clocked a 57% annual growth in their overall residential booking revenues in H1 FY22.

• With cumulative revenue bookings of approx. INR 14,883 Cr in H1 FY22 against INR 9,483 Cr in H1 FY21, listed players performed well despite 2nd COVID-19 wave
• 18.46 Mn sq. ft. of residential area sold by these players in H1 FY22 against 13.28 mn sq. ft. in the year-ago period – yearly growth of 39%
• Total residential area sold in H1 FY22 surpassed corresponding pre-COVID-19 period when approx. 17.2 mn sq. ft. area was sold

Anuj Puri, Chairman – ANAROCK Group, says, “In terms of area, these 9 listed developers sold approx. 18.46 mn sq. ft. of housing space in H1 FY22, again in remarkable contrast to approx. 13.28 mn sq. ft. in the corresponding period a year ago. Amounting to an annual growth of 39%, the total residential area sold in H1 FY22 has also surpassed that of the corresponding pre-COVID-19 H1 period (FY20 period), when approx. 17.2 Mn sq. ft. area was sold.”

The top listed developers analysed are Sobha Ltd., Puravankara Ltd., Prestige Estates, Brigade Enterprises Ltd., Mahindra LifeSpaces Developers Ltd., Godrej Properties Ltd., Oberoi Realty Ltd., Kolte-Patil Developers, and Macrotech Developers (previously Lodha Group). ANAROCK has collated data as per investor presentations of each of the companies.

Driven by homebuyers’ increasing preference for branded homes, the listed developers have once again out-performed the market. Notably, these players have also reconfigured their supply pipeline to deliver projects in the affordable, mid-segment and premium segments. The ongoing low interest rate regime and homebuyers’ desire to avoid construction-related risks also played a role.

“Less than a decade ago, a largely speculator-driven housing market saw unnatural demand chasing the wrong kind of supply,” says Puri. “Today, these players are unleashing right-priced, right-sized supply clearly aimed at organic end-user demand. This is the result of intensive market research before pressing the ‘commit’ button and is one of the most notable features of the reinvented Indian housing market.”

Quarterly Trends

As expected during H1 FY22, the residential market’s second-quarter performance was significantly better than the first. For the Indian economy at large, the second pandemic wave in April and May of this fiscal year was far more devastating than the first wave in 2020 that had a major dampening impact on residential activity. Nevertheless, in terms of activity, the second wave quarter fared slightly better than the first.

Quarterly Performance – Key Highlights:

• The top 9 listed players collectively sold homes worth INR 10,669 CR in Q2 of FY22 (July to September). Their booking revenue in this given quarter rose by a staggering 89% against the same period in the last fiscal (Q2 FY21), when it was INR 5,645 Cr.
• The total area sold by these developers in Q2 FY22 also saw an 83% growth – from approx. 7.38 mn sq. ft. in Q2 FY21 to nearly 13.47 mn sq. ft. in Q2 FY22.
• As for the first quarter of FY22 (when the second pandemic wave was at its worst), the top 9 listed players sold approx. 4.99 mn sq. ft., while a year ago in Q1 FY21, the area sold was more at 5.9 mn sq. ft. 
• While in the first quarter of FY22, the total area sold by these top 9 developers saw a yearly drop of 15% compared to Q1 FY21, their booking revenue was 10% more than the preceding period – approx. INR 4,214 Cr in Q1 FY22 against INR 3,838 Cr in Q1 FY21. This may indicate higher sales in the mid to premium categories.

Also Read: Listed builders beat slowdown make sales worth Rs 228 Bn in FY2019.

The post Listed Developers Are Selling more Homes appeared first on Square Feat India.