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Improved affordability and continuing work-from-home will increase demand for residences by an average 5-10% (in terms of area) on-year in India s top six cities this fiscal. But two of these - Mumbai and Pune - could see demand contracting . ....
Residential realty demand seen up 5-10% in FY22, pre-Covid19 levels likely after FY23: Report SECTIONS Share Synopsis Affordability has improved by up to 30% in the six cities during the past five years because of low interest rates, moderate price correction and reduction in stamp duty (especially in Maharashtra in fiscal 2021), showed CRISIL Research’s Minimum Annual Household Threshold Income index. Agencies CRISIL expects a slowdown in new launches this fiscal, and developers to focus on sale of ready or near-complete properties, leading to a gradual reduction in inventory. Improved affordability and continuing work-from-home is expected to increase demand for residences by an average 5-10% (in terms of area) on-year in India’s top six cities in this financial year. However, absolute demand will catch up with pre-pandemic levels only after fiscal 2023, said a ....
Read more about Expect complete recovery in residential realty only in 2024: Crisil on Business Standard. Better affordability, sustained WFH will spike demand in top six cities this fiscal. But Mumbai and Pune may see contraction due to the higher base of last fiscal ....
The demand will contract in Mumbai Metropolitan Region (MMR) and Pune, it said. Improved affordability and continuing work-from-home will increase demand for residences by an average 5-10 per cent (in terms of area) on-year in India s top six cities this fiscal, Crisil said in a statement. Mumbai and Pune could see demand contracting because of a higher base of last financial while the rest should see a rebound on a low base. However, absolute demand will catch up with pre-pandemic levels only after fiscal 2023, Crisil said. The demand in the first half of this fiscal will be impacted by the second wave of the pandemic, but a healthy recovery is expected in the second half. ....