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Nirmal Bang Report
We hosted a call with Mr. Anuj Puri, Chairman Anarock to understand the current scenario in the real estate industry and its future prospects. The speaker endorsed our view that the residential real estate cycle has turned favorable. The key highlights are as follows:
continued strong growth in the sales velocity of the residential sector witnessed over the past year indicates that it is not driven by pent-up demand only,
sharp increase in enquiries shows strong growth in leasing of commercial real estate. Growth is primarily driven by strong hiring in IT/IT enabled services, opening up of the economy and resumption of office in hybrid mode across cities,
retail segment picked up in a phased manner on the back of under-penetration of malls, coupled with a favourable population mix and lack of social gathering space in India,
rentals from retailers revived to pre-Covid-19 levels and collections remained strong (~95%) due to rise in footfalls in malls.
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