Study of recent reports from Cushman, Jones, etc indicates that prices are stabilizing across most micro markets in Q4, with demand now picking-up outside Mumbai and NCR markets (the first to recover)…though caution prevails over unreasonable hikes at this stage - an unreasonable hike could hamper demand and come in way of the recovery of housing segment.
Pune is seeing renewed demand; prices have risen across most pockets, with several locations clocking double-digit growth in Q4 in the mid-segment. Kolkata residential markets bounced back; Rajarhat and EM Bypass outperformed.
In Chennai and Bangalore, price decline arrest came through. With IT/ITes sector showing pick-up signs, employment sentiments turning positive and hiring stepping up, home buyers we are returning.
Commercial REalty - BKC in Mumbai grew 7% and Salt Lake in Kolkata grew 8% (low base)
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