According to a study by property consultancy ANAROCK, the affordable housing category saw a decline in overall sales to approximately 20 percent of the overall pie in 2023 from over 30 percent in 2022. Developers ping hopes on the interim budget 2024 to get done the necessary revisions in affordable housing criterion.
The real estate sector is in the middle of an upcycle fuelled by demand-supply balance, low inventory, favourable affordability, and gradual price hikes.
The realty firm plans to invest about Rs 300 crore beyond the land cost to develop the ultra-luxury housing project, through its subsidiary ‘Terra Grande’.
Delhi s big-ticket property transactions are affected as the Land and Development Office (L&DO) delays the conversion of leasehold properties into freehold. Around 100 such transactions are on hold, causing distress to industry stakeholders. Elderly, widows, and ailing senior citizens are suffering the most. The government is also facing revenue loss due to halted property transactions and loss of freehold conversion charges and stamp duty payments. The involvement of multiple authorities is affecting Delhi s high-value property market.