City peripheries lead in housing amid pandemic; Pune tops with most launches, says Anarock

IANSUpdated: Thursday, June 17, 2021, 01:22 PM IST
article-image
Macrotech to invest Rs 2,800 cr in In FY19, the share of new launches in the peripheral locations was around 51 percent of about 2.29 lakh homes launched in 7 cities | proptiger

City peripheral areas are the preferred housing locations for homebuyers, and data released by Anarock Property Consultants showed that as much as 58 per cent of about 1.49 lakh homes launched in FY21 are in the leading seven cities' peripheries.

In FY19, the share of new launches in the peripheral locations was around 51 percent of about 2.29 lakh homes launched in these cities. In FY20, more than 2.07 lakh new units hit these markets and the peripheral areas accounted for a 53 per cent share.

Among these cities, Pune saw the most launches in its peripheral areas -- 76 percent of 29,950 units launched in FY21 -- led by Mulshi, Pirangut, Daund, Chakan, Chikhali, Kamshet, and Undri, among others.

Anuj Puri, Chairman of Anarock Property Consultants said: "Homebuyer preferences changed perceptibly post-the pandemic. The previous 'walk-to-work' concept no longer led home buying decisions - instead, bigger and more affordable properties in greener, less polluted areas found favour, driven by work-from-home and e-schooling compulsions as well as safety concerns. Developers quickly changed track and those with landbanks in the peripheries, and even otherwise, saw it an opportune time to launch new projects there."

New developments in the peripheries reduce the stress on the choked city-centres, and they become increasingly viable with ongoing infrastructure projects such as metros and ring roads which will boost their connectivity to the city centres.

"It is very likely that some of the major office occupiers will soon de-centralize and bring their offices closer to their employees' homes in these peripheries," said Puri.

The report noted that many peripheral micro-markets where demand remained muted before the pandemic are now seeing renewed demand and supply. The previous desire to live in city centres -- closer to workspaces, children's school among others -- has reduced markedly with the advent of WFH and e-schooling options in the post-pandemic world.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Budget 2023: Railway budget to focus on incomplete projects, big push for Make in India

Budget 2023: Railway budget to focus on incomplete projects, big push for Make in India

Maruti Suzuki CFO says, semiconductor shortage continues to impact production

Maruti Suzuki CFO says, semiconductor shortage continues to impact production

Budget 2023: Evolution of the budget briefcase from Gladstone box to iPad

Budget 2023: Evolution of the budget briefcase from Gladstone box to iPad

Shark Tank India Season 2: Sharks invest Rs 34.63 crores invested in so far, Namita Thapar continues...

Shark Tank India Season 2: Sharks invest Rs 34.63 crores invested in so far, Namita Thapar continues...

India has third highest number of startups, says Union Minister G Kishan Reddy

India has third highest number of startups, says Union Minister G Kishan Reddy