Great growth in Chennai
The report, published by real estate consulting firm Anarak, shows that South Indian cities such as Bengaluru, Chennai and Hyderabad have seen significant growth.
Ankara Research Institute has reported that Chennai has performed better than many other North Indian cities, including Delhi.
Commenting on this, Santosh Kumar, Vice President, Anarak, said, “The real estate sector in 2018 is on the upswing. The impact of changes in real estate policy has been diminishing day by day. The real estate sector is currently looking for a rebound. ” said.
Apart from apartments, small business and industrial office sectors have also seen strong growth in South Indian cities such as Bangalore, Chennai and Hyderabad. While these cities have seen a 20% growth in residential sales, the northern and western cities have seen a 15% to 18% growth.
Only 19% of the units sold in South Indian cities are leftovers. But, the Delhi NCR has a lot to offer. Only 28% of the area was not sold.
In South Indian cities, office-related real estate sales are 21 million square feet. In Delhi alone, the segment has sold over 6 million square feet.
