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Listed realtors record total residential sales worth Rs 22, 800 crore in FY19

The top listed developers considered for analysing trends include DLF Ltd., Sobha Ltd., Puravankara Ltd., Prestige Estates, Brigade Enterprises Ltd., Mahindra Lifespace Developers Ltd., Godrej Properties Ltd., Oberoi Realty Ltd. & Kolte Patil developers.

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Representative image

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The risks associated with stalled or delayed housing projects is driving homebuyers to listed real estate developers, leading the top nine listed realtors to record total residential sales of approximately 44 mn sq ft in the financial year 2019 as against 17 million sq ft during the demonetisation period, according to a report by ANAROCK research.

The residential sales value of these realty players in FY2019 was approximately Rs 22, 800 crore, the report said.

Another trend that the report reveals is of top developers recalibrating their project offerings. Their previous hard focus on the premium segments has given way to a greater emphasis on the high-demand affordable and mid-income segments. With more and more listed developers venturing into lower budget segments, the housing market's demand-supply gap has narrowed significantly, the report said.

Many developers who incurred massive debts during the sector's boom period are now looking to reduce their debt burden with rebooted business strategies. They are either selling their assets or their development rights, refinancing loans or speeding up project completions to improve sales, it said.