SARE Homes (South Asian Real Estate) is launching “Green ParC – II”, the fourth phase of its 65-acre integrated township called “Crescent ParC” in sector 92, Gurgaon. This township is strategically located on the Gurgaon growth corridor, on the arterial 60-meter wide road, approximately 40 minutes from the IGI Airport and in close proximity to the Dwarka & KMP expressways, and the industrial hub of IMT, Manesar.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
With the US and European debt crisis affecting sentiments across the world, the Indian real estate sector is likely to see a gloomy phase in the next 12 months.
Despite strong growth potential for real estate in Tamil Nadu, the price per square foot is set to rise in the next two three months as the industry is reeling under a crisis.
Real estate traditionally has always had the perception of being a sector where ‘land & buildings’ was the language required and ‘people skills’ were of no great relevance. But, now, even big Real estate players are soon beginning to understand the importance of effective ‘client servicing’, enhanced ‘team productivity’ and professional ‘managerial skills’.
The housing and real estate sector in India witnessed foreign direct investment (FDI) of $2.8 billion in the fiscal year (April-March) 2009-10, according to Indian Department of Industrial Policy and Promotion. The statistics made available to the media at the India Home property exhibition, which concluded in Dubai on Sunday, revealed that total NRI FDI inflows through the period April-December 2009-10 stood at $320.05 million.
From being the governance wild child to maturing into a market influencer, India’s real-estate sector has transformed in the past decade, with a paradigm shift from family owned businesses to corporates along with a few companies listing on stock exchanges. The change began with the government opening doors to Foreign Direct Investment (FDI) in 2005 and then welcoming the next wave of stability as corporate houses brought image restoration for the sector. Led by corporate entities, realty companies soon adopted corporate governance wherein transparency began to trickle down into the system as a norm slowly.
Track2Realty Exclusive: The current economic environment is indeed one of the most challenging in recent history. The headwinds of inflation, interest rates, construction costs, and subdued consumer demand have constrained real-estate growth in many micro-markets across the country. Economic volatility aside, I am optimistic about long-term real-estate sector prospects. My optimism is founded in irrefutable realities – the rapid urbanization of India, burgeoning segment of upwardly mobile Indians, limited availability of urban residential housing and unabated aspiration of home ownership.
Foreign direct investment (FDI) in the real-estate sector last year was the lowest in four years, but private equity activity gained momentum during the recent months, according to a study by an Indian industry chamber and a global accountancy firm.
Track2Realty: CommonFloor.com has received USD 30 million in a new round of funding from their existing investor, Tiger Global. The current round of funding comes within months after it raised Rs 64 crores in last round from Tiger Global and Accel India.