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Time of India
an hour ago
- Business
- Time of India
‘Housing sales in Ahmedabad up 3%, new launches drop 61%'
Ahmedabad: Real estate developers in Ahmedabad are postponing new project launches, leading to a sharp 61% decline in new housing units introduced during the first six months of 2025, according to a report released by the Confederation of Real Estate Developers' Associations of India (CREDAI). Despite this huge drop in new launches, the city's primary housing market showed a 3% uptick in sales and a 7% increase in average property prices. The CREDAI and CRE Matrix Report reveals that Ahmedabad's residential real estate market demonstrated strong financial performance, with the total value of primary units sold increasing by 10% in the first half of 2025 (H1 CY'25) compared to the same period in 2024. The city recorded sales of approximately 25,000 primary units during this period, marking a 3% year-on-year increase, positioning the city's housing sales volume close to that of the National Capital Region (NCR). However, the market showed signs of seasonal fluctuation, with sales declining from 28,122 units sold in the second half of 2024 (H2 CY'24). New unit launches declined from approximately 31,000 units in the first half of 2024 to just 11,000 units in the first half of 2025. The report states that the average ticket size has seen an upward trend of around 7% in the first half of 2025 compared to the first half of 2024. The market share of properties less than Rs 70 lakh has increased by 2 percentage points, increasing from 27% in the first half of 2024 to 29% in the first half of 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pirates Climb Aboard Cargo Ship - Watch What The Captain Did Next Tips and Tricks Undo You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad CREDAI Ahmedabad chairman Chitrak Shah said, "The sentiment was a bit affected, and due to that, many developers deferred new launches, and it can be seen in the report. However, now we see the impact of interest rate reduction, and the next quarter will see more launches in the city because of the festival season and good monsoon and liquidity." Ahmedabad generated Rs 21,849 crore in new house sales during the first half of 2025, representing a substantial increase from Rs 19,806 crore in the same period of 2024. According to the report, the housing market across India's Tier-1 cities witnessed a strong surge in demand in the first half of 2025, with primary housing sales reaching a record Rs 3,60,000 crore, indicating robust market appetite. The report says that NCR led in revenue contribution with a 26% share, followed closely by Mumbai Metropolitan Region (MMR) at 23%. Despite this, new launches have been on a declining trend over the past one-and-a-half years. The number of units sold saw a modest decline of approximately 4%, from 2.67 lakh units in the first half of 2024 to 2.53 lakh units in the first half of 2025. This disparity between revenue and volume growth suggests a significant rise in average ticket size, with the average unit price increasing from Rs 1.24 crore in the first half of 2024 to Rs 1.42 crore in the first half of this year, according to the report.
India Today
21-07-2025
- Business
- India Today
Affordable homes are vanishing. Can you still get a 2BHK for Rs 1 crore?
Home prices in India's biggest cities have shot up sharply, and many aspiring homeowners are wondering whether buying a 2BHK flat under Rs 1 crore is still estate prices across major metros have surged due to strong demand, high construction costs, and a steady flow of luxury housing despite these challenges, there are still some pockets in both Tier-1 and Tier-2 cities where a 2BHK under Rs 1 crore is within SALES SLOW DOWN AS PRICES JUMPAccording to Anarock, housing sales in India's top seven cities dropped by 28% in the first quarter of 2025 compared to the same period last year. About 93,280 homes were sold in Q1 2025, down from 130,170 a year earlier. This fall comes amid rising prices and global uncertainties that have slowed the market's earlier strong price rise has been steep. Anarock data shows that average residential prices in the top seven cities increased by 10% to 34% in Q1 2025, mainly due to high demand and new launches in the premium segment. NCR and Bengaluru saw the biggest price jumps—more than 34% and 20%, respectively.A separate report by CREDAI, Colliers, and Lises Foras said that during the October–December quarter of 2024, housing prices rose by an average of 10% across eight major cities. Delhi-NCR alone recorded a 31% rise during this NCR, MMR, BENGALURU SEE BIGGEST PRICE SURGESPropTiger data for Q4 2024 shows Delhi NCR with an average price of Rs 8,105 per sq ft, up 49% from a year remains the most expensive market at Rs 12,600 per sq ft, up 18% year-on-year. Bengaluru's average price stands at Rs 7,536 per sq ft, rising 12% over the same period. (Source: PropTiger Research/Global Property Guide) advertisementHOW FAR CAN RS 1 CRORE STRETCH IN 2025?Santhosh Kumar, Vice Chairman of ANAROCK Group, said that finding a 2BHK for under Rs 1 crore in prime city locations is nearly impossible. However, buyers can still get decent homes in the peripheral or emerging parts of Tier-1 cities. He mentioned the below locations where people could find 2BHK homes under Rs 1 Bengaluru, buyers can look at Devanahalli, Bagalur, or Electronic City, where smaller developers still offer budget-friendly options. In Hyderabad, Narsingi and Kokapet are among the few remaining areas where Rs 1 crore can fetch a compact offers possibilities in Hinjewadi and Wagholi, and in Delhi NCR, buyers may consider Sohna, New Gurgaon, Greater Noida West, and Raj Nagar the MMR, areas like Mira Road, Naigaon, Dombivli, Panvel, and parts of Borivali are still affordable. For those considering Kolkata, options exist in New Town, Rajarhat, and EM Bypass. In Chennai, localities like OMR, Tambaram, Pallavaram, and Perambur still offer homes within Gupta, Director at RPS Group, said, 'In Tier-1 cities, good 2BHKs below Rs 1 crore are still available in upcoming corridors where infrastructure bridges the gap with distance disadvantages. In Delhi-NCR, such apartments are available in localities such as Dwarka Expressway and Noida Sector 150, though commuting times can be long.'TIER-2 CITIES OFFER SPACE, VALUE AND BETTER QUALITY OF LIFEIf buyers are willing to look beyond metros, Tier-2 cities offer better choices. Kumar said cities like Ahmedabad, Lucknow, Jaipur, and Coimbatore are emerging as attractive alternatives. These homes are not just more spacious but often located in central areas and supported by better infrastructure than many metro added, 'Tier-2 cities give you returns that are a lot better. In Indore's Vijay Nagar and Super Corridor, you can get a 1,200–1,400 sq ft 2BHK with a clubhouse. Prices in such areas have appreciated by 27% annually.'In Coimbatore, localities like Vadavalli and Saravanampatty offer proximity to IT zones, while Nagpur's Wardha Road offers premium 2BHKs starting around Rs 65 HARD HAS IT BECOME FOR FIRST-TIME BUYERS?Home prices across India's top seven cities rose 59% between 2021 and 2025, according to ANAROCK. Delhi NCR alone saw an 89% rise in the same period. This has made Rs 1 crore a tight budget in most large must weigh multiple factors, size, location, developer reputation, and commute. Those working from home or without school-going children may consider homes in far-out suburbs. But infrastructure becomes key in such cases. 'If roads or connectivity aren't developed now, there is no certainty they ever will be,' warned also pointed out that today's budget homes may have 25% smaller carpet areas, delayed infrastructure, and fewer social amenities like hospitals and schools within HAPPENING ON THE SUPPLY SIDE?As per ANAROCK, of the 1.99 lakh units launched across India's top seven cities in the first half of 2025, over 65,000 units were priced below Rs 1 crore. That's a lower share than before, but demand remains strong. Developers are still launching homes in this price bracket, especially in city the share of mid-segment homes has fallen from 36% to 32% in 2025, while luxury homes have risen to 41%, said Gupta. He added that buyers must also factor in registration charges and taxes, which can account for 5–8% of the home SHOULD BUYERS DO NOW?advertisementKumar said, 'It is unlikely that supply in this price bracket will disappear. But buyers must accept trade-offs—either on the size, the builder or the location.'If you're buying your first home, experts advise purchasing near your place of work in a Tier-1 city if possible, even if it means compromising on amenities or opting for a resale it's for investment, however, Tier-2 cities might offer better returns and lower maintenance costs. For example, Gupta noted that monthly maintenance in Nagpur is nearly 46% lower than in the challenges, 2BHK homes under Rs 1 crore are still available across India, if buyers are willing to look in the right places, explore upcoming locations, and compromise on size or brand. For some, Tier-2 cities may now offer a better blend of affordability and lifestyle than over-heated metro markets.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a financial advisor before making any actual investment.)- Ends
News18
19-07-2025
- Business
- News18
New Super Chennai website aims to make the city a global frontrunner
Chennai, Jul 19 (PTI) A new website, 'Super Chennai', supported by real estate body CREDAI and various entrepreneurs, has been launched here with the aim of positioning the city as a global frontrunner. The website will offer real-time updates and comprehensive information about the city. This initiative follows the unveiling of the 'Super Chennai' logo earlier this year by Tamil Nadu Chief Minister M K Stalin at CREDAI's annual exposition, FAIRPRO 2025. The launch of the website is a significant step in the 'digital first" vision, creating a participatory platform designed to showcase Chennai not just as a metropolitan area, but as a future-ready global city, a release on said on Saturday. Super Chennai brings together community voices, real-time city updates, and cultural narratives into one unified digital space. The initiative is backed by CREDAI Chennai and has been developed with inputs from technologists, entrepreneurs and artists among others, it said. Commenting on the launch, CREDAI Chennai chapter President A Mohamed Ali said, 'Chennai has always been a city of builders – of homes, institutions, and futures. Super Chennai is the digital layer of that some spirit. It reflects what we stand for as a city: pride, progress and participation." To build on this momentum, the Super Chennai team would embark on a national campaign in order to showcase Chennai as one of India's most vibrant destinations. Through a mix of digital outreach, media partnerships, and on-ground activations, the campaign would highlight the city's unique blend of cultural richness, economic opportunity and future-ready spirit, he said. At the launch of the website, Super Chennai Managing Director Ranjeeth D Rathod said, 'This is not just a website or a tech platform. It is a tribute to our city – its spirit, struggles and extraordinary potential. Super Chennai is where every resident can find themselves and feel proud of belonging here." Silicon Valley-based technology company Pointcast has partnered with Super Chennai initiative, which would provide real-time updates on the mobile for everything an individual needs to know. Commemorating the launch of the Super Chennai website, noted entrepreneur and Co-Founder of Naturals Salon C K Kumaravel was honoured with the 'Icon of the Month' award for his outstanding contribution to women's entrepreneurship and for promoting inclusive growth. With a focus on community driven content, hyperlocal relevance and civic pride, Super Chennai is designed to grow with the city. PTI VIJ ROH view comments First Published: July 19, 2025, 12:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
19-07-2025
- Business
- Time of India
New 'Super Chennai' website aims to make the city a global frontrunner
Chennai gets a digital boost with the launch of 'Super Chennai'. The website aims to showcase the city as a global leader. CREDAI and entrepreneurs support this initiative. It offers real-time updates and city information. The platform promotes community voices and cultural narratives. A national campaign will highlight Chennai's unique blend of culture and opportunity. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A new website, ' Super Chennai ', supported by real estate body CREDAI and various entrepreneurs, has been launched here with the aim of positioning the city as a global frontrunner . The website will offer real-time updates and comprehensive information about the initiative follows the unveiling of the 'Super Chennai' logo earlier this year by Tamil Nadu Chief Minister M K Stalin at CREDAI's annual exposition, FAIRPRO launch of the website is a significant step in the "digital first" vision, creating a participatory platform designed to showcase Chennai not just as a metropolitan area, but as a future-ready global city, a release on said on Chennai brings together community voices, real-time city updates, and cultural narratives into one unified digital space. The initiative is backed by CREDAI Chennai and has been developed with inputs from technologists, entrepreneurs and artists among others, it on the launch, CREDAI Chennai chapter President A Mohamed Ali said, "Chennai has always been a city of builders - of homes, institutions, and futures. Super Chennai is the digital layer of that some spirit. It reflects what we stand for as a city: pride, progress and participation." To build on this momentum, the Super Chennai team would embark on a national campaign in order to showcase Chennai as one of India's most vibrant a mix of digital outreach, media partnerships, and on-ground activations, the campaign would highlight the city's unique blend of cultural richness, economic opportunity and future-ready spirit, he the launch of the website, Super Chennai Managing Director Ranjeeth D Rathod said, "This is not just a website or a tech platform. It is a tribute to our city - its spirit, struggles and extraordinary potential. Super Chennai is where every resident can find themselves and feel proud of belonging here." Silicon Valley-based technology company Pointcast has partnered with Super Chennai initiative, which would provide real-time updates on the mobile for everything an individual needs to the launch of the Super Chennai website , noted entrepreneur and Co-Founder of Naturals Salon C K Kumaravel was honoured with the 'Icon of the Month' award for his outstanding contribution to women's entrepreneurship and for promoting inclusive a focus on community driven content, hyperlocal relevance and civic pride, Super Chennai is designed to grow with the city. PTI
The Hindu
17-07-2025
- Business
- The Hindu
Rise of real estate development in North Chennai
North Chennai plays a protagonist in Tamil films such as Pudhupettai, Polladhavan, and Vada Chennai. From Madhavaram, Tiruvottiyur, Ennore, and Manali to Kolathur, Royapuram, Perambur, Purasawalkam, and Tondiarpet, they have all been showcased for their notoriety, featuring cramped living conditions and a lack of infrastructure. However, there has noticeable plot twist in the last three years. Long-time residents here are now seeking improved housing options, while local traders who were once confined to compact living spaces are now upgrading to larger and more luxurious homes. Recognising the untapped potential here, developers are queuing up to put up their projects here. And not just that, in the last three years, north Chennai has experienced a notable increase in property prices. Developers say that people in this zone are now looking at properties priced anywhere between ₹80 lakh up to a few crore. According to CREDAI (Confederation of Real Estate Developers Associations of India) Chennai, real estate values have appreciated significantly over the last two years in north Chennai, with land prices rising by 30% to 60% across key locations. In particular, Madhavaram, Perambur, and Minjur have seen notable growth. Rental values have also increased by 15% to 20%, driven by rising demand from working families, migrants, and improved connectivity to the city's commercial hubs, says CREDAI, the apex body of private real estate developers in India. Another set of data that was collated by V.S. Sridhar, executive managing director, Tamil Nadu and Kerala, and Head GCC Advisory-Operations, Cushman & Wakefield, shows that between 2022 and the first-half of 2025, north Chennai saw close to 7,000 residential units launched across key localities. Madhavaram leads the pack. 'Madhavaram led with 2,390 units, followed closely by Perambur with 2,349 units. Tiruvottiyur recorded 687 units, while Kolathur and Villivakkam contributed 319 and 299 units, respectively,' says Sridhar. 'Other areas like Tondiarpet, Royapuram, and smaller localities added modest numbers.' The first half of 2025 has already seen a healthy momentum with nearly 1,400 units being launched, indicating that the second half will witness steady activity, he adds. Recently, G Square acquired 62.38 acres of land to develop 1,091 ready-to-construct villa plots spread across key micro-markets, including Red Hills, Puzhal, and Karanodai, entailing investments to the tune of ₹230 crore. Casagrand is also evaluating some projects in the North Chennai area. Diptakirti Chaudhuri, chief marketing officer of Casagrand, says that localities such as Madhavaram, Perambur, and Kolathur are witnessing a wave of premium gated communities and high-rise apartment projects. 'Casagrand's offerings in these prime pockets are priced between ₹7,000 to ₹9,000 per In contrast, certain locations in north Chennai have already crossed ₹15,000 per surpassing average prices in the OMR belt,' he says. Sanjay Chugh, director and city head, Chennai, Anarock Property Consultants Private Limited, says areas such as Minjur, Moolakadai, and Avadi are drawing attention due to proximity to proposed economic hubs like the TIDEL Park at Pattabiram and upcoming metro extensions. 'Perambur continues to attract mid-segment buyers,' he shares. Commercial development While residential developments have been on the rise, the region is also witnessing commercial growth, which includes IT parks, retail hubs and logistics centers. 'Looking ahead, the submarket is expected to see an additional two MSF [million square feet] of supply from developers such as Voora and Purvika Kwality Group, to meet the rising demand for good quality office spaces,' Sridhar says. Chugh points out that the Tamil Nadu government's warehouse policy would be a game-changer for north Chennai. He says, 'With the Tamil Nadu Warehousing Policy expected to be unveiled by late 2025, industry players are eyeing streamlined approvals, single-window clearances, and zoning clarity for cold storage, logistics parks, and multi-modal hubs. For hubs like Ennore and Manali — already gaining traction due to port proximity and NDR's FTWZ [Free Trade Warehousing Zone] — this policy could catalyse large-scale investments and infrastructure-grade leasing.' He also highlights that the NDR Group, which is strengthening the region's logistics backbone with over 7,00,000 Free Trade Warehousing Zone (FTWZ) in Ennore, is now reshaping the retail landscape with a ₹200-crore shopping mall in Madhavaram. The challenges Despite all this, developers feel that a lot needs to be changed as the region continues to grapple with long-standing urban and environmental challenges that threaten to cap its true potential. They state that chronic flooding during monsoons — largely due to inadequate stormwater infrastructure and encroachments on key water bodies such as the Buckingham Canal and Otteri Nullah — remains a seasonal crisis. Layered over this are the effects of unregulated urbanisation, which has led to rampant solid waste mismanagement and groundwater contamination, especially around industrial hubs like Ennore, Manali, and Kodungaiyur. Developers suggest that immediate steps should focus on reviving the Kosasthalaiyar River Basin through desilting, rejuvenation, and encroachment clearance. This would provide long-term flood resilience. In parallel, scaling up the Integrated Stormwater Drainage (ISWD) system using climate-adaptive designs could bring relief to the flood-prone wards. A developer shares that in these dense, mixed-use neighbourhoods, residents regularly face the harsh realities of fly ash emissions, sewage overflows, and airborne industrial pollutants, posing serious public health and ecological risks. While state-led initiatives such as the North Chennai Development Scheme aim to address these issues, progress has been uneven, often slowed by fragmented execution and ageing civic systems. For private developers and institutional investors, this lack of consistency continues to be a barrier to long-term commitment.
