{"id":19819,"date":"2013-07-03T16:50:25","date_gmt":"2013-07-03T11:20:25","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=19819"},"modified":"2020-06-15T04:00:05","modified_gmt":"2020-06-14T22:30:05","slug":"residential-real-estate-india-june-2013","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/residential-real-estate-india-june-2013\/","title":{"rendered":"Residential Real Estate India: June 2013"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-19820\" alt=\"real-estate\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/07\/pune-buildings.jpg\" width=\"300\" height=\"250\" \/>The Indian economy has been observing major setbacks with falling GDP of the nation and Rupee value in the global market for the past few years. The economic growth of the country is strongly connected to the real estate market and the slowdown in the economic growth can have cascading effect on the real estate market of the country.The economic set back has highly affected the residential real estate market. Purchase decisions of residential buyers majorly depend on affordability, economic condition and income conditions etc. On the other hand, property buyers of commercial, retail sector will not be majorly affected by the economical condition. Residential market conditions can vary in every city as economic and affordability conditions change city by city.The major movements in the market are observed in the tier I and tier II cities like Mumbai, Bangalore, Chennai, Hydearabad, Pune and NCR region. The residential market is often divergent for each city and market rates are highly fluctuating in these cities.When compared to the weighted average prices of these cities, it was observed that the cities having sea adjacent to them have the highest weighted average price like Chennai and Mumbai.<\/p>\n<ul>\n<li>Chennai and Mumbai have average weighted prices of Rs 4500 per sq ft and Rs 5900 per sq ft respectively.<\/li>\n<li>Mumbai is the most congested city in the country so the property prices are very high.<\/li>\n<li>Mumbai city has a weighted average price of Rs 14,400 per sq ft and it gets reduced to Rs 5900 per sq ft when complete Metropolitan region is considered including areas like Thane, Vasai, Virar and Navi Mumbai etc.<\/li>\n<li>Bangalore has weighted average price of Rs 3660 per sq ft<\/li>\n<li>Pune has weighted average price of Rs 4100 per sq ft as it is the most sought after residential destination in India after Mumbai, Bangalore and NCR region<\/li>\n<li>Hyderabad has weighted average price of Rs 3450 per sq ft<\/li>\n<li>The NCR region has a second highest weighted average price after Mumbai of Rs 4700 per sq ft<\/li>\n<li>The NCR region has vast availability of the land parcels, but the prices in Gurgaon are very high which resulted in higher weighted average price of the region.<\/li>\n<\/ul>\n<p>The Bangalore residential market is the most affordable residential market which has about 77 percent of the total under construction units falling below the Rs 5 million. Chennai has 78 per cent and Hyderabad has 51 percent under construction units which are below Rs 5 million. Mumbai stood lowest in this segment with only 48 percent of the total under construction units below the Rs 5 million.Mumbai, Bangalore and NCR are the most expensive real estate markets of the country. Mumbai has the most expensive residential real estate market with 29 percent of the total under construction units exceeding the 10 million mark. Whereas Bangalore and NCR markets witnessed 11 percent and 5 per cent units which exceeded the 10 million mark.Bangalore, Chennai and Pune residential markets are in better health compared to the Hyderabad, Mumbai and NCR markets. Cities like Mumbai, Bangalore and Hyderabad are running out of available land and as a result these cities are expanding on their fringes. Pune, Chennai are the most favorite cities amongst the property buyers and investors. Tier II and Tier III cities like Secunderabad, Lucknow, and Nashik are also emerging as a prospective residential destination of India.<span style=\"left:100%;display:inline-block;position:fixed\"><a href=\"http:\/\/rusbankinfo.ru\/\">\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a><a href=\"http:\/\/rusbankinfo.ru\/credits.html\">\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian economy has been observing major setbacks with falling GDP of the nation and Rupee value in the global market for the past few years. The economic growth of the country is strongly connected to the real estate market and the slowdown in the economic growth can have cascading effect on the real estate [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19819","post","type-post","status-publish","format-standard","hentry","category-prop-trendz"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Residential Real Estate India: June 2013<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/residential-real-estate-india-june-2013\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Residential Real Estate India: June 2013\" \/>\n<meta property=\"og:description\" content=\"The Indian economy has been observing major setbacks with falling GDP of the nation and Rupee value in the global market for the past few years. 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