According to a Bloomberg report, in another sign of recovery in India’s real estate market, Apollo Global Management plans to provide USD 1 billion debt funding to developers in the country this year. Both the housing and commercial realty markets are witnessing strong performance this year. housing sale is jumping about 40 percent year-on-year and office space leasing 25 per cent jump in March 2022 quarter.
Apollo Global Management Partner Nipun Sawhney said the funding this year is higher than the USD 750 million that Apollo gave to Indian developers last year. According to the report, “Around 70 per cent of this year’s loan will go to home builders and the rest to commercial developers.”
The private equity company, which began lending to Indian property developers in 2017, opened its Mumbai office in 2008 and currently manages approximately USD 513 billion in assets globally.
Current Residential Market Demand Scenario
According to a report by real estate consulting firm CBRE South Asia, housing sales grew nearly 13 per cent quarter-on-quarter to over 70,000 units in the March 2022 quarter and sales jumped nearly 40 per cent year-on-year. base.
CBRE said, “The share of affordable/budget segment in sales remained stable at 27 per cent in Q1 2022, while in Q4 2021. Sales in the high category reached 23 per cent in Q1 2022 as against 16 per cent. In Q4 2022, mid- The end segment segment declined to 41 per cent this quarter. The premium and luxury housing segment also saw a marginal increase in sales on a quarterly basis.”
New unit launches in the March 2022 quarter grew by almost 30 per cent to cross the 60,000-unit mark. It said that with shares of 43 per cent and 30 per cent, mid-end and high-end categories dominate new launches in the country.
India Ratings and Research It has also stated that “Amidst the impact of the pandemic, industry issues and favorable government policies, the Indian real estate sector expects a strong end-user demand in FY13. Steady performance and quick revival in FY12 have probably helped the sector to gain buyer’s confidence.”
Current Office Space Leasing Demand Scenario
Space leasing jumped 25 per cent year-on-year to 10.8 million square feet (MSF) during January-March 2022, according to a report by real estate consultancy firm Knight Frank Office. Bengaluru was the leading market with total leasing of 3.5 msf, followed by NCR with 2.3 msf.
The report said that during the January-March 2022 quarter, fares have increased steadily or sequentially. “Even on a year-on-year basis, rents have remained stable or increased in five out of eight markets. Bengaluru saw the highest growth in rental values in the first quarter of 2022 with a year-on-year increase of 4 per cent.
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