A growing number of senior living projects are coming up in tier-2 cities on account of availability of affordable land parcels, presence of social amenities, and improving health services standards.

Bangalore dominated the flexible space stock with 7.8 million sq. ft., followed by Delhi-NCR and Mumbai, with 6.7 million sq ft and 4.6 million sq ft, respectively.

The Supreme Court in September last year had upheld the Constitutional validity of Aadhaar, making it a legal proof of identity and address for over 1.2 billion holders.

“We are clearly seeing the emergence of strong, organized players whose strengths are amplified, rather than diminished, by the newly regulated market environment. Even the most conservative industry estimates indicate a staggering number of developers in the top cities who have been either wiped off the map, or have merged with organized developers after DeMo and RERA.”

While New Delhi and Mumbai have moved up by one and two places, respectively, from 10th and 30th ranks in the previous quarter, Bengaluru has slipped five places to 20th rank in September quarter.

"While housing sales in overall residential market recorded a decline in Q2 FY20, the housing sales value of India's top 9 listed developers remained steady during the quarter," said Anuj Puri, Chairman, Anarock.

The industry body also asked the state government to reduce stamp duty substantially up to September 2020, to exhaust unsold inventory and bring down the same to 1% for affordable homes.

Good connectivity, proximity to offices make this area in Kolkata attractive to buyers. The locality has many renowned schools, hospitals, shopping malls and other recreational places. The nearest railway station is 16 km away.

Environment Pollution (Prevention and Control) Authority, or EPCA, had last Tuesday imposed construction ban till Monday when further decision will be taken depending on the situation. Even if the ban is lifted soon, reorganising labour will be a difficult task and several projects in the NCR will have to push their deadline further, developers said.

In 2016-17, the new launches by these nine listed players in top seven cities comprised 5 per cent share of the overall launches, this share increased to 10 per cent as on 2018-19 and will increase steadily.

Estimates by the finance ministry showed that constructing the entire stock of houses in 1,600 projects, many of which are in standstill state, will require over Rs 50,000 crore and this number could go up. Not all of them will be commercially viable.

A JV or development management agreement puts a large developer in the driver’s seat as the new entrant gains control of the new entity. Additionally, the established developer’s track record and ability to maintain cash flows help bolster project execution and marketing.