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5-Year Price Surge – Top 7 Cities See 45% Hike, Some Markets Over 90%

Aug 26, 2024 by Sujata 0 Comments #ANAROCK, #Hyderabad, #Mumbai

Mumbai, 26 August 2024: Residential prices have been rising significantly across cities in the last few years, amid buoyant demand and increased new supply. ANAROCK Research has analysed the price trends in the top 3 micro-markets of the top 7 cities, based on maximum new supply seen in the last 5 years.

Among the shortlisted localities, Bengaluru’s Bagaluru recorded the highest price appreciation of 90% between 2019 and H1 2024.

Anuj Puri

”With new supply of approx. 17,065 units in the period, the average residential prices at Bagaluru jumped up from INR 4,300 per sq. ft. in 2019 to approx. INR 8,151 per sq. ft. in H1 2024,” says Anuj Puri, Chairman – ANAROCK Group. “A deeper dive reveals that of the total new supply launched in this micro market since 2019, over 94% was in the price bracket of INR 40 lakh to INR 1.5 Cr – the mid and premium segments. The remaining 6% was in the luxury segment priced >INR 1.5 Cr. Tellingly, there was no new affordable supply in this locality.”

Hyderabad’s Kokapet came close behind with overall price appreciation of 89% in this period. The area saw approx. 12,920 units of new supply in the period, and prices rose from INR 4,750 per sq. ft. in 2019 to INR 9,000 per sq. ft. in H1 2024. A whopping 52% of the new launch share was in the ultra-luxury category priced >INR 2.5 Cr, followed by a cumulative 30% in the mid and premium segments. The remaining 19% supply was in the luxury price bracket of INR 1.5 – 2.5 Cr.

Bengaluru’s Whitefield ranks 3rd, recording an 80% rise in residential prices in the period. The area witnessed saw approx. 18,600 units launched between 2019 and H1 2024 – over 66% was in the mid and premium budget category, and the remaining 34% was in the luxury homes segment. Average prices here increased to INR 8,600 per sq. ft. in H1 2024 from INR 4,765 per sq. ft. in 2019.

NCR’s Dwarka Expressway ranks 4th with a 79% price appreciation. Avg. prices increased from INR 5,359 per sq. ft. in 2019 to over INR 9,600 per sq. ft. in H1 2024.
Bengaluru’s Sarjapur Road clocks in at #5 with a 58% price jump. Avg. prices here rose from INR 5,870 per sq. ft. in 2019 to INR 9,300 per sq. ft. in H1 2024.
Hyderabad’s Bachupally came in 6th with avg. property prices increasing by 57% in the period – from INR 3,690 per sq. ft. in 2019 to over INR 5,800 per sq. ft. in H1 2024.
Hyderabad’s Tellapur ranks 7th with a 53% jump in avg. property prices in this period – from INR 4,819 per sq. ft. in 2019 to INR 7,350 per sq. ft. in H1 2024.
MMR’s Panvel ranks 8th with a 50% price rise in the period – from INR 5,520 per sq. ft. in 2019 to INR 8,300 per sq. ft. in H1 2024.
NCR’s New Gurugram – in the 9th spot – saw avg. property prices rise by 48% – to INR 9,000per sq. ft. in H1 2024 from INR 6,100 per sq. ft. in 2019.
MMR’s Dombivli saw a 40% price rise in this period – from INR 6,625 per sq. ft. in 2019 to INR 9,300 per sq. ft. in H1 2024.

“Housing price growth accelerated after the pandemic, particularly if we consider the last two years,” says Puri. “As per our data, the top 7 cities collectively saw over 44% of price appreciation in the last five years. At a city level, Hyderabad recorded the highest jump of 64% between 2019 and H1 2024, followed by Bengaluru with a 57% increase. The lowest price growth of 25% was seen in Kolkata. NCR and MMR both witnessed a 48% price appreciation each in this period.”

The commonly held notion that high new supply in a market tends to curtail price growth is not entirely true; many of these active residential micro-markets have seen significant price appreciation over the last five years. For instance, Greater Noida West in NCR – which has the 5th highest supply in the region in last five years – saw a whopping 129% price appreciation.

10 Micro-markets for New Supply – MMR’s Dombivli Leads

The past five years have seen a massive infusion of new supply across the top 7 cities – more than 16,32,650 units between 2019 and H1 2024. City-wise, MMR witnessed the highest supply with approx. 5,25,430 units in this period, followed by Pune with over 2,95,550 units. In terms of micro-markets, MMR’s Dombivli remained the most active market in this period, with the highest new supply.

Dombivli (MMR) ranks first on the list of the most active residential micro-markets in terms of the number of new units launched in this 5-year period. It saw more than 44,990 new unit launched since 2019, with average property prices hovering around INR 9,300 per sq. ft. on built-up area as of H1 2024 – a 40% increase. At least 77% of the new supply was in the INR 40 lakh to INR 1.5 Cr price bracket, and the remaining 23% in the affordable category.
Sarjapur Road (Bengaluru) saw the second highest new supply of approx. 36,150 units, of which 74% was in the mid and premium segments and 18% in the luxury category. Just 8% was affordable housing.
Panvel (MMR) saw 34,400 units added in the period, of which 64% was in the INR 40 lakh to INR 1.5 Cr price bracket, 32% in the affordable segment, and 3% within the INR 1.5 Cr to INR 2.5 Cr price band.
Thane West (MMR) ranks 4th with approx. 34,020 new units added with the average price at INR 13,500 per sq. ft. as of H1 2024 (from INR 10,317 per sq. ft. in 2019) – a 34% price hike. Of the total new supply here, 77% was in the mid and premium segments, 21% in the >INR 1.5 Cr bracket, and just 2% in the affordable category.
Greater Faridabad (NCR) came in 5th with approx. 32,740 units launched in the period. At least 56% was in the affordable category, 24% in the luxury price bracket, and the remaining 20% in the mid and premium segments. Average property rates here rose from INR 3,500 in 2019 to INR 4,700 per sq. ft. in H1 2024 – a 34% jump.
Hinjewadi (Pune) came in 6th with new supply of 25,140 units between 2019 to H1 2024; a whopping 95% was in the mid and premium segments (INR 40 lakh to INR 1.5 Cr), just 4% in the affordable segment, and 1% in the luxury category. The area has seen prices appreciate by 39% in the last five years.
New Gurugram (NCR), clocking in 7th, saw approx. 21,125 units launched in the period – 52% in the affordable category, 29% in the luxury segment, and 19% in the mid and premium segments. Average prices here rose by 48% in the last five years – from INR 6,100 per sq. ft. in 2019 to INR 9,000 per sq. ft. in H1 2024.
Dwarka Expressway (NCR) ranks 8th with approx. 20,250 units launched between 2019 to H1 2024, of which over 55% was in the affordable category priced INR 1.5 Cr bracket.
Whitefield (Bengaluru) ranks 10th with approx. 18,600 units launched, of which 66% was in the mid and premium segments and 34% in the luxury category. There was no new affordable housing supply here.

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NCR – Affordable Housing Sales Share Dips to 24% in H1 2024, Luxury Up to 45%

Jul 31, 2024 by Mansi 0 Comments #ANAROCK, #Anuj Puri, #NCR

New Delhi, 31 July 2024: From epicenter of unscrupulous real estate activities to one of the country’s most vibrant realty markets, NCR has come a long way. The region has seen several notable trend reversals in the past five years. Among them – housing demand is now heavily tilted towards the luxury housing segment.

Latest ANAROCK data indicates that out of NCR’s total housing sales of approx. 32,200 units in H1 2024, an over 45% share was in the luxury segment, and 24% in the affordable segment. Back in 2019, sales of luxury homes were a mere 3% while the affordable sales share stood at 49%.

In terms of overall sales numbers:

Approx. 14,630 luxury units were sold in NCR in H1 2024, against approx. 1,580 units in entire 2019.
Approx. 7,730 units are sold in the affordable segment in H1 2024, against approx. 23,180 units in 2019.

NCR: Housing Sales in H1 2024 & % Share across Budget Segments
City	Total Units sold	< INR 40 Lakh	INR 40 Lakh – INR 1.5 Cr	> INR 1.5 Cr
NCR	32,200	24%	31%	45%
Gurgaon	17,570	27%	14%	59%
Noida + Gr. Noida	8,425	13%	45%	42%
Rest of NCR	6,205	31%	57%	12%

NCR: Housing Sales in 2019 & % Share across Budget Segments
City	Total Units Sold	< INR 40 Lakh	INR 40 Lakh – INR 1.5 Cr	> INR 1.5 Cr
NCR	46,920	49%	47%	3%
Gurgaon	13,250	43%	53%	4%
Noida + Gr. Noida	21,770	44%	52%	4%
Rest of NCR	11,900	66%	33%	1%

Gurugram

Anuj Puri, Chairman – ANAROCK Group, says, “Among all NCR cities, Gurugram has been the most active real estate market in recent years. Millennium City saw approx. 17,570 units sold across different budget segments in H1 2024. Of these, a whopping 59% (approx.10,365 units) were luxury homes, followed by 27% (approx. 4,710 units) in the affordable segment.”

“Back in 2019, Gurugram saw approx. 13,245 units sold, of which 43% or approx. 5,740 units were affordable housing,” says Puri. “The sales share of luxury homes was just 4%, or approx. 470 units.”

Noida & Greater Noida

Noida and Greater Noida together saw approx. 8,425 units sold in H1 2024. Of this, 42% (approx. 3,550) units were luxury homes and just 13% (approx. 1,100) units were in the affordable segment. The highest sales share – 3,770 units or 45% – was in the mid and premium segments priced between INR 40 lakh and INR 1.5 Cr.

In 2019, these two cities together saw the highest sales in NCR – approx. 21,770 units. Of this, 44% (approx. 9,565) units were sold in the affordable segment, and just 4% (approx. 990) units were in the luxury segment. The maximum sales of 11,215 units or 52% were in the mid and premium segments together.

Other Cities

Ghaziabad, Faridabad, Delhi and Bhiwadi together saw approx. 6,205 units sold in H1 2024, of which the luxury segment accounted for 715+ units, while affordable housing saw 1,920 units sold. The maximum sales of approx. 3,570 units were in the mid and premium segments.

Back in 2019, these cities saw approx. 11,900 units sold, of which the highest share of approx. 7,875 units were in the affordable segment, followed by approx. 3,910 units in the mid and premium segments. Just 115 units sold were luxury homes.

New Supply Dynamics – City-wise

NCR: New Supply in H1 2024 & % Share across Budget Segments
City	New Units Supply	< INR 40 Lakh	INR 40 Lakh – INR 1.5 Cr	> INR 1.5 Cr
NCR	24,300	11%	12%	77%
Gurgaon	15,530	16%	1%	83%
Noida + Gr. Noida	7,320	1%	35%	64%
Rest of NCR	1,450	0%	26%	74%

NCR: New Supply in 2019 & % Share across Budget Segments
City	New Units Supply	< INR 40 Lakh	INR 40 Lakh – INR 1.5 Cr	> INR 1.5 Cr
NCR	35,280	47%	41%	12%
Gurgaon	19,350	53%	33%	14%
Noida + Gr. Noida	7,040	14%	70%	16%
Rest of NCR	8,890	62%	33%	5%

New supply in the region has followed demand, with developers adding more supply in the luxury segment and curtailing it in the affordable segment. Out of approx. 24,300 units launched in NCR in H1 2024 across budget segments, just 2,570 units or 11% were in the affordable segment – a massive 18,600 units, or 77%, were in the luxury segment.

Contrastingly, in 2019, out of approx. 35,280 units launched in the region, over 47% or approx. 16,680 units were in the affordable segment and a mere 12% (approx. 4,230 units) were in the luxury segment.

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COWRKS expands its footprint in India with 4 New Centres in Mumbai & Bengaluru

Jul 18, 2024 by Mansi 0 Comments #ANAROCK, #Bengaluru, #COWRKS, #Mumbai, #Parul Thakur

Mumbai, 18th July 2024: COWRKS, a leading provider of premium workspaces announced its expansion with the opening of new centres in Mumbai and Bengaluru. The new centres are strategically located at Equinox in Mumbai and Ecoworld and Centennial in Bengaluru.

This expansion will add 1.4 lakh sq ft, increasing the brand’s total presence across India to 15 lakh sq ft. With a total of 34 centres nationwide, this growth enhances the brand’s capacity to meet the growing demand for Grade A workspace solutions in key metropolitan areas.

Parul Thakur, Senior Vice President & Business Head, COWRKS says, “The launch of these new centres reflects the growing demand for Grade A flexible office solutions from both startups and large enterprises, which aligns with our strategic goals. This demand is driven by the need for workspaces that offer operational efficiencies, workspace flexibility, employee engagement, and business continuity. At COWRKS, we remain dedicated to ensuring sustainable growth through dynamic workspaces that feature exceptional hospitality and innovative designs, all aimed at supporting the success of our partners.”

The new COWRKS centres feature the latest design language, characterized by modern, open spaces, ample natural light, and biophilic elements. With a focus on collaborative and adaptable design, each centre includes quiet zones for focused work and spaces for larger teams, complemented by expressive art and vibrant colours. Our in-house design team collaborates closely with clients to customize each space, reflecting their brand philosophy and promoting productivity.

COWRKS serves a diverse clientele, catering to top Fortune 500 companies, startups, and prominent unicorns. According to the New Age Flex Workspace Report by Anarock, the increasing demand for flexible office spaces in India, fuelled by evolving work habits has positioned Bengaluru as the leading city in this trend, with a 25% share of the flexible workspaces in India followed by Mumbai with 13%.

Located within Brookfield Properties campuses, COWRKS enhances its workspace offerings with amenities like retail spaces and recreational facilities, elevating the overall premium experience. This approach not only emphasises the importance of catering to employee needs but also enriches the overall employee experience.

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Pune’s Real Estate Boom – Is Now the Perfect Time to Invest?

Jul 10, 2024 by Mansi 0 Comments #Akash Pharande, #ANAROCK, #MMR, #Pune, #Real Estate Boom

akash pharande

by-Akash Pharande, Managing Director – Pharande Spaces

Pune, one of India’s most vibrant real estate markets, has experienced rapid changes over the past few years. Latest data from leading real estate consultancies show a scenario of strong housing price increases and ongoing changes in market dynamics, pointing towards further price hikes in the future.

According to real estate consultants Anarock, Pune and the Mumbai Metropolitan Region (MMR) saw over 50% of the overall housing sales in Q2 2024 among the top seven cities. This is a resounding statement for Pune — a city once considered the laid-back cousin of the financial capital and is now competing in the same league.

Rising Property Prices: A Continuum

Recent data from various leading consultancies clearly show Pune’s trend of rising property prices. There has been a significant 20-23% year-on-year increase compared to Q1 2023. This resilience and rising demand are driving prices higher. Several factors explain Pune’s growing housing prices

– Economic Growth & Employment Opportunities: Pune’s real estate market has improved significantly due to its development into a major IT and manufacturing center. High demand from professionals seeking homes near their workplaces has led to a surge in property values in and around IT parks and manufacturing hubs.

– Infrastructure Development: Ongoing and planned infrastructure improvements such as road extensions, new flyovers, and the Pune Metro are boosting the city’s property values and connectivity. This dynamic is evident across Greater Pune, which includes the Pune Municipal Corporation (PMC) and the infrastructure-driven Pimpri-Chinchwad Municipal Corporation (PCMC).

– Shift in Housing Segments: Pune’s housing market is now driven by mid-range and premium-to-luxury housing, thanks to higher demand for such options. The higher purchasing and borrowing power of the target clientele supports ongoing price increases.

pune real estate

So – Buy Now or Later?

To answer this very important question, it is necessary to consider some fundamentals. Pune’s strong economic growth draws professionals and families from various industries. The city offers a high livability quotient, better housing affordability, and a superior climate compared to neighboring Mumbai. It also boasts top-grade healthcare and education options and proximity to Mumbai, Maharashtra’s main economic hub.

Pune has delivered an overall residential price appreciation of well over 20% in just one year. Naturally, both end-users and investors find the city very appealing, especially considering its rapid growth since 2020, which saw Pune’s lowest year for housing demand in the last decade due to the COVID-19 pandemic.

Job losses, economic disruption, and the disappearance of construction labour brought building activity to a halt. The lockdowns caused a significant decline in real estate market demand and supply.

But in 2021, the market began to bounce back powerfully. With a 17% year-on-year increase, Pune saw the highest property sales since 2013. Buyer confidence increased steadily. In 2023, the Pune housing market rebounded remarkably. The current year is poised to set new benchmarks.

The writing is clearly on the wall — there is no stopping the Pune housing market, and a wait-and-watch stance can cost buyers dearly. For those who want to buy a home in Pune, either to live here or to reap investment returns, there is a strong argument for acting now. Historical data and current patterns clearly imply that the city’s property values will keep rising.

Given the continuous growth of the city and its expanding economic base, homes bought now will deliver significant value addition over time. Pune is currently second only to Mumbai in new residential launches and sales and is also attracting increasing interest from institutional investors eyeing its commercial real estate market.

This means more workplaces, more jobs, and even higher housing demand driving prices steadily northward. For potential buyers and investors, the message is clear – there is no equity in waiting for a more opportune time in Pune’s thriving housing market.

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NCR Saw 29 Land Deals for Approx. 314 Acres Closed in FY-24

Apr 24, 2024 by Sujata 0 Comments #29 Land, #ANAROCK, #NCR, #Santhosh Kumar

New Delhi, 24 April 2024: Delhi-NCR continues to be a hotspot for real estate transactions across various sectors and as in the previous financial year, land deals have been a significant part of real estate development. ANAROCK data finds that in contrast to the 23 land deals covering approximately 273.9 acres in FY-23, FY-24 witnessed 29 land deals for approx. 314 acres.

“About 26 separate land deals, totaling approx. 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development,” says Santhosh Kumar, Vice Chairman – ANAROCK Group. “At least two land deals, spanning over 7 acres each, were planned specifically for commercial real estate projects. A separate deal involving approximately 8.61 acres was dedicated to an education-related project.”

City-Specific Deals:

Delhi: One deal covering 5 acres was closed for residential development.
Gurugram: Millennium City led the way with 22 deals, totaling 208.22 acres. These included one deal each for educational, residential, and retail purposes, while the remaining 20 deals were exclusively for residential development.
Faridabad: A 15-acre land deal was finalized for residential purposes.
Greater Noida: An 8.9-acre deal was secured for residential development.
Ghaziabad: A substantial 62.5-acre deal was signed for a township project.
Noida: Noida closed three separate deals, covering a combined area of 13.96 acres, for both residential and commercial developments.

Deal in Quarter, 2000-21	Buyer	City	Locality	Approx. Size (acres)	Proposed Development
Q2-2023	Ganga Realty	Gurgaon	Sector 84	8.35	Residential & Retail
Q2-2023	Conscient Infrastructure	Gurgaon	Sector 80	6.6	Residential
Q3-2023	Experion Developers	Gurgaon	Golf Course Road	4	Residential
Q3-2023	Experion Developers	Noida	Sector 145	5	Residential
Q3-2023	Experion Developers	Gurgaon	Sector 48	5.5	Residential
Q3-2023	Experion Developers	Gurgaon	Golf Course Ext Road	4.5	Commercial
Q3-2023	Godrej Properties	Gurgaon	Golf Course Road	7.91	Residential
Q3-2023	Eldeco Group	Gurgaon	Sector-80	8.5	Residential
Q3-2023	Godrej Properties	Gurgaon	Sector-103	14.8	Residential
Q3-2023	Adore Group	Gurgaon	Sector – 77	10.2	Residential
Q4-2023	Eldeco Group	Greater Noida	Greater Noida West	8.9	Residential
Q4-2023	Experion Developers	Gurgaon	Sector-53	6	Residential
Q4-2023	TREVOC	Gurgaon	Sector-56	2	Residential
Q4-2023	Signature Global	Gurgaon	Village Fazilpur	25.75	Residential
Q4-2023	Adore Group	Faridabad	Sector -84	15	Residential
Q4-2023	Oberoi Realty	Gurgaon	Sector-58	14.8	Residential
Q4-2023	BPTP	Gurgaon	Sector-113, Dwarka Expressway	5.24	Residential
Q1-2024	Gulshan Homz	Noida	Sector 129	2.5	Commercial
Q1-2024	DLF Homes Developers	Gurgaon	Golf Course Ext Road	29	Residential
Q1-2024	Deepinder Goyal (individual)	Delhi	Dera Mandi	5	Residential
Q1-2024	Eldeco Group	Gurgaon	Sector – 80	2.7	Residential
Q1-2024	Trehan IRIS	Gurgaon	Sector-80	5.08	Residential
Q1-2024	Conscient Infrastructure	Gurgaon	Sector-80	5.56	Residential
Q1-2024	Ashiana Housing	Gurgaon	Sector-80	10.8	Residential
Q1-2024	TREVOC GROUP	Gurgaon	Golf course Road	2	Residential
Q1-2024	Godrej Properties	Noida	Sector 44	6.46	Residential
Q1-2024	Prestige Group	Ghaziabad	Indirapuram Extension	62.5	Township Project
Q1-2024	Gameskraft Technologies Private Limited	Gurgaon	Balola village	8.61	Educational
Q1-2024	Signature Global	Gurgaon	SPR	20.32	Residential

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101+ Land Deals for Approx. 2,989 Acres Closed in FY-24 Across Indian Cities

Apr 22, 2024 by Sujata 0 Comments #ANAROCK, #Anuj Puri, #Land Deals, #Mumbai

Mumbai, 22 April 2024: The residential segment continues to drive the Indian real estate market, which also reflects in the land deals it is generating. Amid all-time high residential demand, several large and listed developers and other entities continued to snap up land. Other than residential, commercial, retail, industrial and logistics & warehousing are also driving prime land deals in key locations across India.

ANAROCK data indicates that various developers and entities sealed approx. 101 separate land deals in fiscal year 2023-24, cumulatively accounting for nearly 2,989 acres across the country. In contrast, FY-2022-23 saw 88 land deals for approx. 1,886 acres closed across various cities.

approx

“Interestingly, out of the total land deals in FY-24, over 83 deals for about 1,135 acres were closed in the top 7 cities alone”, says Anuj Puri, Chairman – ANAROCK Group. “The remaining 18 deals, accounting for over 1,853 acres, were sealed in various tier 2 and 3 cities like Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat. Tier 2 & 3 cities have once again emerged as redoubtable growth engines, thanks to their rapidly improving infrastructure and growth opportunities.”

Among land deals in the top 7 cities, NCR topped out with 29 deals for 313+ acres, followed by MMR with 19 deals for approx. 157+ acres. Notably, in terms of total land area, Bengaluru saw 14 deals for 490+ acres transacted – the highest among all top 7 cities.

The number of deals in FY 2024 has risen significantly – from 88 deals for 1,886+ acres in FY23 to approx. 101 deals for 2,989+ acres in the current financial year. In terms of total area, around 58% more land has been purchased in the FY 2024 as compared to FY 23.

“At approx. 4.93 lakh units, residential sales across the top 7 cities have created a new peak in FY2024,” adds Puri. “In particular, large and listed developers have seen very high sales, and it makes sense for them to buy land across prominent urban micro-markets. Resultantly, the previous financial year saw some very prominent land deals taking place.”

Proposed Developments

Of the total land deals in FY-24, around 80 separate deals for approx. 2,252 acres are for proposed residential, plotted development & township projects. In the residential category, deals were closed in Pune, Bengaluru, MMR, Hyderabad, NCR, Chennai, Mysuru, Ayodhya, and Jaipur.
Deals for proposed plotted development projects were sealed in cities like Sonipat, Nagpur, Surat and Ahmedabad, while township projects are slated in Ahmedabad, Bengaluru, Thane, Ludhiana and Ghaziabad.
Commercial and retail together saw 4 separate deals for over 42 acres closed. Of these, 3 were for commercial developments – one each in Gurugram, Noida and Mumbai – and one retail deal was closed in Thane.
At least 79 acres in 4 separate deals have been earmarked for mixed-use developments in cities including Pune, Mumbai and Ludhiana.
Approx. 164 acres in 5 separate deals were closed for industrial, IT park, and logistics park in Gujarat, Chennai, Navi Mumbai, Nagpur, and Cuttack.

Proposed Developments	Area (acres)	No. of Deals	City
Commercial	31	3	Gurugram, Noida & Mumbai
Industrial	38	1	Gujarat
IT Park	11	2	Chennai & Navi Mumbai
Logistic Park	115	2	Nagpur & Cuttack
Manufacturing	411.75	3	Bengaluru, Gujarat & Andhra Pradesh
Mixed-Use	79	4	Pune, Mumbai & Ludhiana
Plotted Development	481.5	4	Sonipat, Nagpur, Surat & Ahmedabad
Residential	606.13	70	Pune, Bengaluru, MMR, Hyderabad, NCR, Chennai, Mysuru, Ayodhya, Jaipur,
Retail	11	1	Thane
Township Project	1164.33	6	Ahmedabad, Bengaluru, Thane, Ludhiana & Ghaziabad
Educational	8.61	1	Gurugram
Not yet Decided	31.52	4	Kolkata, Chennai, Karnala Village (Maharashtra)

The top developers who bought land parcels for various developments in FY24 include Godrej Properties, Eldeco Group, Adani Realty, Signature Global, Oberoi Realty, DLF India, Prestige Group, K Raheja Corp, and Brigade Group, among others.

Top Land Deals Across Cities
Deal in Quarter	Buyer	City	Approx. Size (in Acres)	Proposed Development
Q1-FY2024	ESR India	Sanand (Gujarat)	38	Industrial
Q1-FY2024	Birla Estates	Bengaluru	28.6	Residential
Q1-FY2024	Foxconn	Bengaluru	300	Manufacturing
Q1-FY2024	K Raheja Corp	Mumbai	4	Residential
Q2-FY2024	Prestige Group	Mumbai	2.3	Residential
Q2-FY2024	Godrej Properties	Gurgaon	7.91	Residential
Q2-FY2024	Arvind Smartspace	Ahmedabad	204	Township Project
Q2-FY2024	UK’s Malhotra group	Ludhiana	300	Township Project
Q3-FY2024	Eldeco Group	Greater Noida	8.9	Residential
Q3-FY2024	Greenscape IT Park	Navi Mumbai	4	IT Park
Q3-FY2024	ESR India	Nagpur	58	Logistic Park
Q3-FY2024	Mahindra Lifespaces	Pune	5.38	Residential
Q4-FY2024	DLF Homes Developers	Gurgaon	29	Residential
Q4-FY2024	Lodha	Ayodhya	51	Residential
Q4-FY2024	Brigade Group	Chennai	16	Residential & Hospitality
Q4-FY2024	Signature Global	Gurgaon	20.32	Residential

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Retail’s Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways

Mar 4, 2024 by Sujata 0 Comments #Abhishek Bansal, #Amazon (US and India), #Amazon (US and India) and Vivek Somareddy, #ANAROCK, #Anujj Puri, #APAC International Stores, #Ashwin Khasgiwala, #Avjit Mitra, #Avnish Anand - CaratLane; Avnish Kumar, #Being Human Clothing; Sanjay Vakharia, #bigbasket, #bigbasket; Johnson Verghese, #Bijou Kurien, #Celio Future Fashion; Gautam Saraogi, #CEO, #CEO & Co-founder, #CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC), #Chairman, #Co-Founder & CEO, #Croma, #Darpan Mehta, #David Macadam, #Dhiraj Agarwal, #Dhishoom Cinemas., #Director, #Emerging Markets, #Executive Director, #Forum Malls; Rajneesh Mahajan, #Fossil India; Nissan Joseph, #Founder & MD, #Go Fashion (India) Ltd (Go Colors);, #Hari Menon, #Infiniti Retail; Hari Menon, #Inorbit Mall; Sagar Daryani, #Inorbit Malls and Shibu Phillips, #International Council of Shopping Centres (ICSC), #Lalit Agarwal, #Lalit Agarwal - V-Mart Retail; Sagar Daryani, #Lulu group. While on the brands side were Manish Kapoor, #MD & CEO, #Metro Brands; Rajneesh Mahajan, #Middle East Council of Shopping Centres (MECSC), #Neeru's; Sanjay Vakharia, #Nexus Malls; Muhammed Ali, #Pacific Group; Dalip Sehgal, #Parul Gulati, #Pepe Jeans; Rajesh Jain, #Rajesh Jain, #Reliance Retail Limited, #Retailers Association of India (RAI), #Seller Experience and Global Trade, #Shopping Malls, #Sports & Leisure Apparel (Lacoste India), #Sports & Leisure Apparel Ltd; Sanjeev Rao, #Spykar Lifestyles;, #Spykar; P Jayakumar - Apollo Pharmacy; Rajiv Nair - Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, #Trent, #Tushar Dhingra, #V-Mart Retail, #VP, #Wow! Momo Foods, #Wow! Momo Foods; Venkatesalu P

March 4, 2024, Mumbai: The Retail Leadership Summit 2024 (RLS 2024), organised by the Retailers Association of India (RAI), took place on February 28 and 29 at the Hotel Westin Powai Lake, Mumbai. This annual event brings together the brightest minds in retail to explore forward-thinking strategies within the industry.

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 2

Welcoming the audience at RLS 2024, Kumar Rajagopalan, Chief Executive Officer, Retailers Association of India (RAI), said, “In 2023, the retail industry witnessed a tale of two halves: robust growth initially, followed by a plateau. This reflects the criticality of aligning with market dynamics and consumer needs. We’re observing a transformative shift, with retailers blending digital and physical experiences to create seamless consumer journeys. The key to future success lies in harnessing the power of omnichannel strategies and understanding the evolving consumer preference for convenience and trust. As we move forward, embracing innovation and agile responses to market trends will be pivotal in shaping the retail landscape.”

Setting the tone for the summit, Bijou Kurien, Chairman, Retailers Association of India (RAI), expressed, “The retail industry in India is poised for significant growth in the year ahead. Driven by an 8%+ growth in GDP in Q3 FY’24 and based on steady investment by the Government and Private sector, consumption is bound to grow. The combination of online commerce coupled with offline expansion, driven by a more technology savvy consumer with greater aspirations would herald significant changes in retail structure, and channel strategy. Retailers and brands are gearing up for aggressive growth, particularly eyeing tier 2 cities for deeper market penetration. This strategic focus not only indicates a broadening of access for consumers but also signifies a shift towards tapping into the burgeoning demand in emerging urban centres. This optimistic outlook underscores the sector’s resilience and its pivotal role in the broader economic landscape of India.”

Highlights of RLS 2024 included presentations and knowledge reports by RAI-Boston Consulting Group report titled ‘Unlocking the $2Tn retail opportunity by 2030: An activist agenda’, RAI-Deloitte report titled ‘Future of Retail: Profitable Growth through Technology and AI’, RAI-KPMG report titled ‘Achieving seamless commerce in India’ and PWC report titled ‘How India shops online: Consumer preferences in the metropolises and tier-1, 2, 3, 4 cities’. Furthermore, Best Retail Workplaces 2024 report by RAI – Great Place To Work was unveiled and the respective teams were felicitated.

The Summit saw the participation retail leaders, as well as top names in the retail service provider space. Retail stalwarts speaking at the summit included Hari Menon, CEO & Co-Founder, bigbasket, Lalit Agarwal – V-Mart Retail; Sagar Daryani, Co-Founder & CEO, Wow! Momo Foods, Avnish Anand – CaratLane; Avnish Kumar, Director, Neeru’s; Sanjay Vakharia, CEO, Spykar; P Jayakumar – Apollo Pharmacy; Rajiv Nair – Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, CEO, Celio Future Fashion; Gautam Saraogi, CEO, Go Fashion (India) Ltd (Go Colors); among many others.

Speaking during the panel discussion on RLS 2024, Lalit Agarwal, Founder & MD, V-Mart Retail, discussed creating experiences in retail that resonate deeply with customers, especially budget-conscious customers, to make them feel smart and stylish within their means. He emphasised on emotional connection through personalised service and storytelling, making customers feel valued and understood. Lalit Agarwal advocates for building strong brand connections that extend beyond the store, through all interactions, including advertisements. This approach aims to turn customers into authentic influencers, leveraging word-of-mouth for brand promotion. The key is continuous engagement and storytelling, which ensures customer loyalty and organic growth.

Noting the importance of strategy differences across retail categories, Rajesh Jain, MD & CEO, Sports & Leisure Apparel (Lacoste India), highlighted the approach in the premium fashion segment, emphasising a uniform customer experience across online and offline channels without price differentiation except during season-end sales. He said that this strategy aims to cultivate customer habits and preferences for purchasing channels, whether for convenience online or the experience in-store. By maintaining consistent pricing and service, customers understand the brand’s value proposition, reducing their expectation for discounts and fostering brand loyalty.

Furthermore, Darpan Mehta, Director Tax, APAC International Stores, Amazon (US and India) and Vivek Somareddy, VP, Emerging Markets, Seller Experience and Global Trade, Amazon (US and India) made a presentation on “Unlocking Mechanisms and Working Capital for Business Expansion”.

Additionally, the second day of RLS 2024 featured a keynote speech by David Macadam, CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC). This was succeeded by a dynamic panel discussion titled ‘Mahasangram: Retail and Retail Real Estate,’ bringing together prominent figures from both retail real estate and retail industries for an engaging exchange of ideas.

Mall Developers participating in the discussion were Abhishek Bansal, Executive Director, Pacific Group; Dalip Sehgal, CEO, Nexus Malls; Muhammed Ali, CEO, Forum Malls; Rajneesh Mahajan, CEO, Inorbit Malls and Shibu Phillips, Director, Shopping Malls, Lulu group. While on the brands side were Manish Kapoor, MD & CEO, Pepe Jeans; Rajesh Jain, MD & CEO, Sports & Leisure Apparel Ltd; Sanjeev Rao, CEO, Being Human Clothing; Sanjay Vakharia, CEO, Spykar Lifestyles; and Tushar Dhingra, Co-founder & CEO, Dhishoom Cinemas.

In his keynote address at the summit before the Mahasangram Session, David Macadam, CEO, Middle East Council of Shopping Centres (MECSC), International Council of Shopping Centres (ICSC), shared insights on the evolution of experiential retail and e-commerce. He discussed the challenges and opportunities within the retail industry, emphasizing the importance of adapting to consumer demands for experiential and sustainable shopping experiences. Macadam highlighted the significant role of AI and technology in retail, the impact of mixed-use developments, and strategies for business development. He advocated for embracing change, prioritizing customer experience, and leveraging strategic partnerships to navigate the retail landscape successfully.

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 3

Day 2 of RLS 2024 also had a dedicated D2C segment that saw participation of leaders of top D2C brands namely, Dhiraj Agarwal, Founder, Campus Sutra; Sneh Jain, Managing Director, The Baker’s Dozen; Harsh Lal, Co-Founder, The Souled Store. A scintillating Fireside chat with Parul Gulati, Actor & Founder of Nish Hair (featured on Shark Tank India). This segment explored the unconventional strategies that has enable these brands to achieve immense success in a short frame of time.

Parallelly to RLS 2024 was an extensive session of ‘Retail Store Design’ that saw participation of top retailers and brands deliberating on topics such as ‘Future of Retail Design: Exploring Emerging Trends and Technologies’, ‘Balancing Design and Functionality in Retail Spaces’, a captivating Fireside Chat and a Masterclass on ‘The art of curating memorable and meaning customer journey’.

The advisory board of RLS 2024 includes Anujj Puri, ANAROCK, Ashwin Khasgiwala, Reliance Retail Limited; Avjit Mitra, Croma, Infiniti Retail; Hari Menon, bigbasket; Johnson Verghese, Fossil India; Nissan Joseph, Metro Brands; Rajneesh Mahajan, Inorbit Mall; Sagar Daryani, Wow! Momo Foods; Venkatesalu P, Trent.

The first day of RLS 2024 came to a close with the grand felicitation of the crème de la crème of the retail industry with India’s Retail Champions Award 2024 and the Retail Start-up Awards 2024, both evaluated by eminent personalities from the industry as the Jury.

Winners of India’s Retail Champions Awards 2024 were:

Categories	Name of the Company	Name of the Brand
Apparel & Lifestyle	The Souled Store	The Souled Store
Apparel & Lifestyle	Raymond Lifestyle	Ethnix
Apparel & Lifestyle	Spykar Lifestyle Pvt Ltd	Spykar
Apparel & Lifestyle	Brand Concepts Ltd	BAGLINE, House of Luxury Bags
Beauty	Himalaya Wellness Company	Himalaya Wellness
Wellness	Wellness Forever	Wellness Forever
Wellness	Apollo Pharmacy Limited	Apollo Pharmacy
Consumer Durables & IT (CDIT)	Vijay Sales (India) Private Limited	Vijay Sales
Consumer Durables & IT (CDIT)	Infiniti Retail Ltd	Croma
D2C	Cleardekho Eyewear Pvt Ltd	ClearDekho
Department store	Shoppers Stop Limited	Shoppers Stop
Food & General Retail (Large format over 5,000 sq. ft)	LULU Group International	LULU HYPER MARKET
Food & General Retail (Small format below 5,000 sq. ft)	Reliance Retail Limited	Reliance Fresh Signature
Footwear	Metro brands Ltd	Footwear
Footwear	Liberty shoes Ltd.	Footwear
Home Decor / Home Improvement	Godrej & Boyce Mfg Co Ltd	Godrej Interio
Jewellery	Reliance Jewels (Reliance Retail)	Reliance Jewels
Restaurant & QSR	Apsara Ice Creams LLP	Apsara Ice Creams
Restaurant & QSR	Dindigul Thalappakatti	Dindigul Thalappakatti
Speciality Retail	Ample Technologies Private Limited	Monobrand Stoes of Apple, ASICS, UA and Bose. Apple Store brand name “Imagine”
Success Story of 2024	Trent	Zudio

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myHQ by ANAROCK Partners With Awfis to add 100+ New Coworking Centers for On-Demand Day Passes

Dec 26, 2023 by Sujata 0 Comments #ANAROCK, #Awfis, #myHQ, #Sumit Lakhani, #Utkarsh Kawatra

Mumbai, 26 December 2023 – myHQ by ANAROCK, India’s leading platform for flexible workspace solutions, has entered a strategic partnership with Awfis, the country’s largest provider of agile office spaces, to give on-demand access to Awfis’s 100+ centers across the country.

Utkarsh

Utkarsh Kawatra, Senior Director – myHQ by ANAROCK, says, “Under this collaboration, myHQ user base of 100,000 individuals, will now have seamless access to Awfis centers to book on-demand seats and meeting rooms across the country via the myHQ app. Our on-demand solutions are one of the most popular options for professionals who need to get work done in an enabled corporate setting on a short-term or occasional basis. They can book individually or together, a single seat or a meeting room, whatever they need.”

This unique collaboration will leverage the hugely increased post-pandemic pace of the Indian coworking industry. As per myHQ research, since 2017, an astonishing 25 mn. sq.ft. of coworking spaces have penetrated the top 7 cities of the country.

“Today, coworking represents a 21% share of the country’s entire commercial office space sector,” says Kawatra. “In Q3 2023, the top 7 cities have absorbed 10.5 million square feet of office space, of which coworking accounts for a approx. 20% share. The most vibrant coworking hubs in India are currently NCR, Pune, and Bengaluru – but the flex workspace trend is rapidly penetrating even Tier 2 and Tier 3 cities and towns.”

Sumit

Description automatically generated Sumit Lakhani, Deputy CEO – Awfis, says, “We are excited to collaborate with myHQ for our mobility solutions. For us, this becomes another key source of helping a wider audience base experience our services. Our products have been carefully designed keeping in mind the evolving preferences of the new-age workforce and our pricing strategy ensures that people get elevated workspace experience in key micro-markets across cities at a very competitive price. This partnership aligns with our goal to maximize our reach to individuals and corporates across the country.”

Post the Covid-19 pandemic, 70% of Indian companies have adopted various iterations of flexible work models. Coworking spaces have thus become the go-to option for firms and their employees to accommodate their dynamic work approach. More than 50% of startups and fledgling firms with smaller teams find coworking an exceptionally cost-effective solution for hybrid work.

Coworking centers have become a very attractive proposition for businesses, especially startups and companies with smaller teams. The myHQ SaaS platform has already enabled such firms, as well as large corporates who have added flexible work to their traditional office approach, access to 1000+ centers across India.

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