‘Land, quick approvals necessary for low-cost housing projects’


Government needs to ensure availability of land and speedy approvals for effective implementation of low-cost housing projects, real estate developers’ body NARDECO said on July 23.

“For effective implementation of low-cost housing projects, it is imperative that the government ensures availability of land at subsidised rates, fast approvals, property tax relief, funding support, additional FSI, connectivity to suburbs and creation of special residential zones,” National Real Estate Development Council (NARDECO) President Navin Raheja said in a statement.

Demanding infrastructure status for the sector, he said, “This will help the sector getting government incentives, subsidies and tax benefits. Besides, it will also lead to lower cost of funding and taking loans from financial institutions will become cheaper translating to more supply of affordable houses.”

He further said that upward revision of floor area ratio (FAR), ground coverage and population density norms are required on priority basis.

“In most states, the floor area ratio (FAR) density and ground coverage norms do not support the creation of affordable housing the long approval process is another major problem. In major cities where land cost is high, this is possible only under PPP model,” Raheja added.

Source: The Economic Times, Mumbai

————————————————————————————————————————————————————————————————————

low budget flats in chennai,marg swarnabhoomi, aayush apartments

low budget flats in chennai-marg swarnabhoomi aayush apartments

————————————————————————————————————————————————————————————————————

Advertisements

Residential mart gaining momentum in Chennai


real estate chennaiChennai has witnessed several project launches despite subdued economic conditions. Approximately 26,000 residential units were launched in the city during 2012, signifying an increase of almost 73 per cent over the previous year, according to a survey by Knight Frank India research. This reflects the impact of the improved economic conditions since 2011 and the resultant optimism in the residential market.

An estimated 77,500 units were in varying stages of construction across the city till December 2012. A majority of the residential projects launched are focused in south Chennai, accounting for about 60 per cent of the total units launched in the city. The southern micro-market is followed by west Chennai as the region witnessed the second highest number of new residential launches during 2012.

The northern part of the city accounted for 7 per cent of the total units, an improvement of 17 per cent over the previous year’s share. The central part accounted for a minimal percentage of the total number of new launches in the city. This can be attributed to the dearth of suitable plots for development in the region.

A significant development is the emergence of preference for living in gated township projects promoting the concept of community living. This is one reason which has increased outside developers to opt for integrated township projects in the suburbs and peripheral areas.

On the absorption front, the city witnessed a steady intake in both 2011 and 2012 from 27,500 units in 2011 to 29,000 units in 2012. High absorption was observed in the affordable and mid-end category in locations like OMR that offered an acceptable degree of social infrastructure. However, new launches led to the proportion of unsold under construction units at around 40 per cent up from its previous level of 31 per cent. In many cases, developers resorted to giving away freebies and came up with various schemes to attract buyers during the festive season.

Chennai has been a relatively steady residential property market as compared to what has been witnessed in other metros. While growth momentum may not be sustained, developers are expected to continue executing their projects. Affordable housing projects will continue to rule the roost in areas with social infrastructure lagging and lower capital values.

With improved economic scenario and market sentiments, the city will continue to attract investments from several industries due to its strategic location, availability of skilled manpower and improving infrastructure.

Will I ever own a house?


Marg Swarnabhoomi,Marg Swarnabhoomi Aayush Apartment,Low budget apartments in chennai,low budget flats in chennai

Marg Swarnabhoomi Aayush Apartment starting at 9 Lakhs* – Low budget apartments in chennai

Maniraj, a paper vendor on Velachery Main Road, had a tough time last year when he had to vacate his house. Until then he was paying Rs. 1,200 for a 350 sq.ft dwelling unit near Velachery Lake. The landlord raised the rent to Rs.6,000 and Maniraj and his family of four could not afford it. After great difficulty, he found a 200-sq.ft tenement in one of the labyrinthine lanes. “I now pay Rs. 4,500 per month, which includes electricity charges. This is more than what I spend on food every month,” he lamented.

The condition of my colleague is better, but not much toz rejoice. Two years ago, after a long search, she bought an apartment 20 km away from the city. Anything closer was pricy. As a result, she spends three hours every day to commute between home and office.

With apartments inside the city priced between Rs.10, 000 to 15, 000 per sq. ft, and rentals spiraling, it looks only the gentry can live within the city. The middle class must scurry to the suburbs and the poor must slip into the crevices in between.

The mounting complaint is why does Chennai not produce affordable housing?

The government authorities shrug it off and say “it is a market phenomenon.” On the other hand, private players feel that they cannot solve social problems. “It cannot be defined,” the skeptics argue.

Shifting blame and leaving people in the lurch cannot continue. Providing affordable housing is an obligation of the state and it has to find ways to solve it.

Is affordability difficult to define?

After a careful study, the government of India has defined affordability as follows: for lower income group, apartment should not exceed four times the household gross annual income. For the middle-income group, the prices should not exceed five times the gross annual income.

Similarly, the rent should not exceed 30 per cent of the monthly salary for the lower income group. For the middle income, it should not exceed 40 per cent.

In other words, for a middle-income family, which earns Rs. 30,000 a month, any apartment costing more than Rs.18 lakh is unaffordable. At current market prices, this income can only fetch an apartment that is less than 450 sq. ft. The city does not offer many such small-sized apartments.

The condition of the poor is worse. To many who earn about Rs.10, 000 a month, apartments priced more than Rs. 5 lakh is unaffordable, and there is no housing project in the city that takes care of this group.

What is the solution?

Multiple strategies are required. Existing efforts such as reserving 10 per cent of the developed land for affordable housing have not delivered. Apart from reviewing them, new and innovative approaches are needed.

One model that is worth looking at is the concept of Community Land Trust (CLT). In CLTs, a not-for-profit organisation builds houses on subsidized land and gives them at a price much below the prevailing market rate. The condition is that when the buyer resells the apartment, the price has to be below the market rate prevailing then. This ensures that the subsidies are passed on to the subsequent buyers and the prices are kept at affordable levels for a longer period.

This model can be tweaked to suit local conditions. The State government instead of mindlessly monetising its land, can sell or allocate them to cooperatives at subsidised prices to build affordable housing on CLT model.

Successful adoption of this model in many cities across the world should convince skeptics. For example, in Cooper Square land trust project in Manhattan, the rentals are below 30 per cent of the tenant’s monthly income, while in the surrounding area people spend 50 per cent of their salary on rent.

Cities committed to the welfare of its citizens have done better in addressing the housing problem. Chennai has not done enough and it should.

A. Srivathsan is a Deputy Editor with The Hindu. He writes on urban development, architecture and conservation.

marg swarnabhoomi cityscapes

Swarnabhoomi Cityscapes – Plots Starting from 4.99 Lakhs* on ECR.

 

Chennai Real Estate Trends – 2012


The Chennai market has been volatile in the last three quarters.The recent budget will have its impact on pricing due to the increase in the service taxes from 10.3% to 12%. The increase in excise duty across the product categories has led to an increase in the initial input cost, directly impacting the selling price in the market.

The good news, amidst the negative impact of the tax hike is that affordable housing has found its takers due to the increase in the number of people opting for homes in the affordable segment and the National Housing Board in-turn addressing the consumer challenges by promoting the affordable housing segment. The NHB has allotted 5000 crores to promote affordable housing and hence all the Housing and Finance Corporations across the country has lowered the tax rates for homes that come under the affordable housing slot.

This report will analyze the latest real estate trends in the Chennai Market for the last three quarters. Here we go:

Budget & Sq. feet:

In Chennai, Q3 saw a dip in buyer’s budget preferences. But in Q4, the demand has gone up considerably with home loan rates forecasted to go down and inflation coming under control. The budget preferences of the buyers have gone up by about 10% whereas the avg. sq. feet preferences has seen a 12% drop compared to Q2 figures indicating a clear movement towards smaller SKUs. One reason could be that the buyers are going for premium amenities and branded builders even if that means they have to shell out more.

BHK precedes Sq. feet:

The chart below gives a snapshot of the BHK preferences of property seekers in Chennai. An interesting trend emerging from the analysis is that though consumers’ average sq. feet preferences have come down distinctly, there has been a shift in preference from 2 BHK to 3 BHK units over the past 3 quarters. The trend indicates that the average buyer gives more importance to the BHK specifications of a property than the sq. feet specifications.

Hypothetically, a prospective buyer in Chennai is more likely to choose a 3 BHK/1000 sq. feet flat over a 2 BHK/1200 sq. feet available for the same price.

Locality preferences:

Property seekers were given the flexibility to choose up to 3 localities in a particular city in their order of preference and each locality was rated. The overall (Last 3 quarters) locality preference chart indicates how each locality fared. The Tambaram & GST belt emerge to be the hot zones in Chennai that are in great demand. Apart from its proximity to IT parks & good connectivity, the re-emergence of this region as a viable investment option is due to planned infrastructure projects like satellite city, airport and mono-rail in the pipeline.

Mood in the Market:

The Q3 of 2011-12 was a difficult period with the demand/urge to buy a property remaining weak in most markets due to higher interest rates, inflation and forecasts of a glooming recession. This reflects in the purchase intention of the buyers as well. The percentage of buyers that intended to buy a property within the next 4 months went down in Q3. More buyers decided to wait and watch the market and postpone their buying decision in Q3.

———————————————————————————————————————————————————————

Marg Swarnabhoomi EduCity,marg Educity,marg swarnabhoomi,sam,swarnabhoomi academy of music,MIDAS,marg institute of design and architecture swarnabhoomi,MSICT,Marg Swarnabhoomi Institute of creative technology,MNV School,Marg Navajyothy Vidyalaya school,

Marg Swarnabhoomi EduCity

———————————————————————————————————————————————————————

Article Source:INDIA PROPERTY

Best builders in Chennai Launched low budget flats at marg swarnabhoomi starting from 9 lakhs*


Marg Limited one among the best builders in Chennai Launched low budget flats in Chennai at marg swarnabhoomi starting from 9 lakhs*.

Homes @ Swarnabhoomi:

Homes At Marg Swarnabhoomi

Assured Rental Income , Mar Swarnabhoomi

Assured Rental Income – Mar Swarnabhoomi

Homes At Marg Swarnabhoomi :With Assured Rental Schemes
Four Seasons – Rs 17.82 lacs *
Navratna – Rs.13 lakhs to Rs.55 lakhs *
utsav – Rs.10.80 lakhs to Rs.21 lakhs*
maha utsav – 21.00 lakhs to 29.5 lakhs*
aayush – Rs.9.96 lakhs to Rs.11.8 lakhs* 
================================================================================

four seasons logo , Marg Swarnabhoomi

four seasons logo – Marg Swarnabhoomi

4 Seasons : Tallest apartment complex on ECR @ Rs. 1850/- p. sq.ft. only
– Four Seasons will have 4320 apartments which will be developed in various phases .

– Tallest apartment complex on ECR – Four Seasons will be of max .28 floors . We have launched 26 floors ( Summer block) in phase 1 .The other high rise buildings like Hiranandani Upscale ( 28 floors ) & TVH Oranya bay ( 29 floors ) are located on OMR and not on the East Coast Road .
– 2BHK Rs 18.57 lacs * is the starting price of a 2BHK flat measuring 1004 sq ft
–  Launched on 11.11.11 – this date is considered very auspicious as it comes once in 100 years hence we did the Four Seasons project pooja on 11.11.11
– Only Four Seasons will have (Wooden Floor in Master Bedroom, Foyer, Shear Wall Structure, Podium Car Parking, Main door Carved Teak wood, three side lifts for each blocks, Garbage Chute, Power Backup, etc)

4 SEASONS
Winter Spring Summer Autumn Total
2BHK+2T Blocks 8 2 5 4 19
3BHK+3T Blocks 5 5
2BHK+2T Apartments 1088 272 1072 864 3296
3BHK+3T Apartments 1024 1024
Total Apartments 4320
Assured Rentals
2BHK – Rs. 7,500/- per month
3BHK – Rs. 9,000/- per month


4Seasons-Marg swarnabhoomi

4Seasons-Marg swarnabhoomi

four seasons ,marg swarnabhoomi

four seasons – marg swarnabhoomi

marg swarnabhoomi - Four Seasons Apartment - view towards winter block from autumn

marg swarnabhoomi – Four Seasons Apartment – view towards winter block from autumn

marg swarnabhoomi - Four Seasons Apartments - sea view n lake view

marg swarnabhoomi – Four Seasons Apartments – sea view n lake view

Four Seasons - Marg Swarnabhoomi - LAYOUT PLAN

Four Seasons – Marg Swarnabhoomi – LAYOUT PLAN

================================================================================
Aayush:aayush  logo , Marg Swarnabhoomiaayush logo – Marg Swarnabhoomi
The Total land extent will be 3.3 acres where we will develop 576 apartments.

The project offers you 2 BHK apartments ranging between 660 Sqft to 762 Sqft and the cost will vary between Rs.9.57 lakhs to Rs.11.04 lakhs offered at a price of Rs.1450/ per sq ft.

Facilities: Security, Club House, Space for ATM, Childrens Play Area, Reserved/Visiters Car Park, Convineo, Swimming Pool, Pharmacy, Multi-Purpose Hall, 100% Power backup.
Assured Rentals
2BHK – Rs. 4,000/- per month
 

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

================================================================================

Maha Utsav:maha utsav logo  Marg Swarnabhoomimaha utsav logo – Marg Swarnabhoomi
An apartment with 3 sides Ventilation is a “Dream to own” & one with no common walls is “A Luxury”.
Premium Apartments:
392 Apartments in Maha Utsav is launched with both the Unique Feature.
Offer 2BHK, 3BHK+2T & 3BHK+3T types of Apartment.
Area ranges from 1114 Sqft to 1566 Sqft.
Price ranges from 18.38 lakhs to 25.83* for Premium & Penta-Duplex at 40.12 to 56.36* lakhs @ Rs.1650 per Sqft
Economical Apartment:
324 Apartments in Maha Utsav is launched with Economical Feature.
Offer 2BHK, 3BHK+2T & 3BHK+3T types of Apartment.
Area ranges from 752 Sqft to 867 Sqft.
Price ranges from 12.22 lakhs to 14.08 lakhs* @ Rs.1625 per Sqft
Apartment will be hand over by June 2013
                                                                                                                                                  
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Jogging track, Car Wash Bay, Senior Citizen Park Open/Close/Visitors Car Park, Convineo, Acupuncture walkway, Yogo Platform, Swimming Pool, Multi-Purpose Hall, 100% Power backup.
Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK to Penta-Duplex- Rs. 7,000/ to Rs 8,000/- per month
PAYMENT SCHEDULE & Floor Plans (Click to download)
Pricing List for block A & B
Pricing List for C, D & F  

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

================================================================================
Utsav:utsav logo, Marg Swarnabhoomi utsav logo- Marg Swarnabhoomi
The Total land extent will be 18 acres where we will develop 720 apartments in 2 phases.
Phase 1 will have 320 apartments which will be completed and handed over by June 2012.
Phase 2 will have 400 apartments which will be completed for handed over by Dec 2012
The construction has already started & is progressing as per schedule.
The project offers you 2 BHK, 2BHK Plus & 3 BHK apartments ranging between 628 Sqft and 1232 Sqft and the cost will vary between Rs.10.36 lakhs to Rs.20.14* lakhs offered at a price of Rs.1650/ per sq ft.
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Jogging track, Car Wash Bay, Senior Citizen Park, Open/Close/Visitors Car Park, Convineo, Acupuncture walkway, Yogo Platform, Swimming Pool, Basket Ball Court, Cricket Net, Shuttle Court, Yoga Platform, Pavilion, Skating Rink, Pharmacy, Dry Cleaning, Multi-Purpose Hall, 100% Power backup.Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK – Rs. 7,000/- per monthPAYMENT SCHEDULE (Click to download)

Pricing List for 2 BHK
Pricing List for 2 BHK Plus
Pricing List for 3 BHK
Navratna:navratna logo, Marg Swarnabhoominavratna logo – Marg Swarnabhoomi

This is the 1st residential enclave of Marg Swarnabhoomi and it is one the best real estate you can get. The Total land extent will be 9 acres.
Navratna phase1 with 300 apartments sold out & Navratna phase2 with 280 apartments will be completed and handed over by May 2011.
The apartment offers a choice of 1BHK, 2BHK, 3BHK, 4BHK & Pent House ranging between 656 Sqft to 3040 Sqft.
The apartments cost ranges from Rs.13 lakhs to Rs.55 lakhs worked at Rs.1650/ rate per Sqft.
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Car Wash Bay, Senior Citizen Park, Open/Close/Visiters Car Park, Convineo, Swimming Pool, Pharmacy, Dry Cleaning, Multi-Purpose Hall, 100% Power backup.Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK to Penta-Duplex – Rs. 7,000/ to Rs 8,000/- per monthPAYMENT SCHEDULE (Click to download)

Navratna - Marg Swarnabhoomi
Navratna – Marg Swarnabhoomi

Navratna Apartments - Marg Swarnabhoomi

Navratna Apartments – Marg Swarnabhoomi

Visit:http://www.margswarnabhoomi.com/

Chennai Residential Real Estate Market 2012


DEMAND, SUPPLY AND PRICING

In contrast to what was been witnessed in many of the more volatile cities over the last couple of years, Chennai�s residential property market saw steady growth in terms of pricing, demand and supply. Chennai�s residential property market is predominantly end user driven, and this fact did a lot to sustain consistent absorption throughout 2011. The absence of overt speculation has also ensured that developer has move pricing of homes in a stable and gradual manner. Unnatural spiking has therefore been successfully kept at bay.

We expect interest rates to decrease over the course of 2012, and this will result in greater demand for homes in Chennai in 2012.

Increased job security in the city has definitely helped the market to maintain buoyancy and a positive outlook. Over the last 12 months, it became increasingly evident that Chennai�s residential real estate market is significantly dependent on the IT/ITES sector. With employment stability in this sector looking a lot better now than it did in 2010, demand for homes has now reached a comfortable and dependable growth trajectory from which developers are taking their market cues.

CONFIGURATIONS IN DEMAND

The preferred size for 3BHK flats in Chennai has increased from 1200-1300 square feet during the recession to 1400-1500 square feet in the revival phase. The preference for 2BHK sizes has also increased from 850-950 square feet to about 1100-1200 square feet. Again, the main reason for this upgrade in preferences is increased budgets made possible by improvement in the performance of the IT / ITES sector. This is a welcome trend which is enabling architects, planners and developers to come up with better quality dwelling units. Affordable housing units continue to rule the roost in areas where social infrastructure lags and capital values are therefore lower.

We expect overall demand for residential properties in Chennai to increase once the interest rates stabilizes from their current peak. There is a very healthy demand in both the primary and secondary markets, since supply is scarce in both owing to the severe lack of land within the city. Land pricing has, in fact, surpassed the buying capacity of developers and this has put pressure on their ability to come up with viable residential products. Lack of supply and exorbitant pricing are causing both the end users and investor segments to take a closer look at suburbs with decent infrastructure.

Suburban Demand Drivers:

  • Positive market sentiments
  • Possible softening of interest rates
  • Increased job security
  • Unaffordable property rates in the central city

Year 2011 saw residential property pricing in Chennai moving up in a phased and rational manner, which helped in sustaining the momentum. Prices rose by between 8-30% in different areas, but these rises took place in small compartments and in proportion to the actual sales in particular locations and projects. We expect a similar trend to prevail in the year 2012.

Expected Price Movement For 2012:

  •  OMR – 15-30%
  • GST – 10-15%
  • City � 20%
  • NH-4 – 5-8%

AREAS TO WATCH

Madhya Kailash � Sholinagnallur

This stretch is witnessing a clear supply-demand mismatch, with demand outstripping supply. With new employment being generated in this corridor and corresponding absorption of IT space, this area and its peripheries are witnessing extremely healthy demand for residential property. Its proximity to the city adds to the appeal of this area, which will see good appreciation over the coming years. Encouragingly (and in contrast to other parts of OMR) all completed projects here are fully occupied.

Velachery

Velachery is seeing consistent growth, because it is one of the few areas which are seeing holistic and self-sustaining development. With malls and other social infrastructure improving, Velachery is definitely next in line for good appreciation. In fact, near-lying areas such as Medavakkam, Pallikarnai, Pallavaram�Thoriapakkam, the 200 FT. MMRD Road and Rajakilpakkam are already experiencing the positive fallout effect of Velachery�s growth as a residential property destination. These areas are also witnessing good absorption and capital appreciation. There is also significant demand for homes in Porur along the NH4 corridor up to Urapakkam on the GST Road.

Source:moneycontrol

Mid-income housing segments a boon to developers


The Mid-income housing (housing in 40-75 lac budgets) segment has not suffered as much as the luxury segment (read housing over 100 lac budget) in the current realty sector slowdown. In fact the middle-income housing segment is helping realtors compensate the fall in demand from luxury segments. As per industry estimates, sales of mid-income and affordable housing category have dropped only 5-15% over the last one year, as compared with over 60% drop for luxury apartments. The overall drop in home sales can be attributed to the speculators and investors, who have gone out of the market and high-priced apartments are not selling as much as those in the mid-in­come category.

Developers became very cautious after the economic slow down in 2008-09 and started launching affordable housing projects. The viability of these projects became doubtful due to rising cost of labor and raw material forcing developers to look at either mid-segment or luxury housing. Land cost which is a significant cost of the project went up post the 2009 era. Many developers had bought land at high prices, launched luxury housing projects and later on during the sluggish phase (starring mid 2011) they found it difficult to liquidate the stocks. This lead to increased expense but lower revenue and many developers relied on high interest loan to balance their working capital.

———————————————————————————————————————————————————————-

Marg Swarnabhoomi,homes at marg swarnabhoomi,chennai flats,flats chennai,builder chennai,chennai flats for sale,aayush, aayush apartments, apartment, apartment in chennai, apartment in chennai for sale, Apartments, apartments for sale, Apartments for Sale Chennai, Apartments for Sale in Chennai, apartments in Chennai, budget apartments in chennai, budget flat in chennai, budget flats in chennai, budget flats in omr, budget homes in chennai, budget plots in chennai, Builders Chennai, cheap apartments in chennai, cheap flats for sale in chennai, cheap flats in chennai for sale, Chennai apartments, chennai apartments for sale, Chennai Apartments/Flats, chennai flats, chennai flats for sale, Chennai Properties, flat in chennai, flats for sale, Flats for sale Chennai, flats for sale in chennai, flats in chennai, GATED COMMUNITY, happy home, Lifestyle apartments, Lifestyle apartments builders, low budget apartments in chennai, low budget flat in chennai, low budget flats in chennai, low budget flats in Chennai at MARG Aayush, low budget homes in chennai, low budget houses in chennai, luxury apartments, Luxury Home Builders, Luxury Home Builders Chennai, luxury villas, Marg Aayush Apartments, marg swarnabhoomi, marg swarnabhoomi flats, New Home Builders Chennai, Properties Sale Chennai, Property Developers, Real estate in Chennai, Residential Apartments builders in Chennai, Residential Apartments Chennai, Tamil Nadu,navratna apartments,aayush apartments,utsav apartments,maha utsav apartments,four seasons apartments

Homes @ Marg Swarnabhoomi

———————————————————————————————————————————————————————-

A recent study conducted by a leading private sector bank points out that property prices have run up across the country in the last couple of years. In some pockets, price rise has been more than usual. There is an unsold inventory of 40 months in the Mumbai Metropolitan Region and 23 months in the National Capital Region. There are certain pockets were home sales is healthy in the affordable and mid-income category where as there is a stack of unsold inventory in luxury segment. It also points out that the development is happening in the outskirts of cities.Delhi-NCR is still the top city followed by Chennai, Mumbai, Pune, Bangalore andHyderabad.There is also good growth in tier-II and III towns because property prices are still low.