Bottom Line: After regulator, rate cut is another confidence booster…
Brotin Banerjee, MD & CEO of Tata Housing believes more…
Bottom Line: There will be property revaluation in India post…
Bottom Line: The global investor survey conducted among CBRE clients…
CREDAI to support the academy by providing high quality training…
Finance Ministry officials maintain that budget wish list of developers…
“I am reading these newspaper reports about the real estate sector demanding so many things with the Union Budget. Most of these demands are for their financial health than understanding the market from common homebuyers’ perspective like us. Do we matter at all in this eco system where neither the government nor the developers understand what keeps us away from the property market,” says Shweta Sanyal, an advertising professional in Mumbai.
With the prices virtually stagnant and the industry being plagued with an ever increasing inventory for sale the market is in a mode of a gradual downward drift. However, even though the city property market has been witness to stagnation, there is still hope in the last quarter of the fiscal year due to underlying factor that while the property prices in the city have increased only nominally, affordability has risen with rising salaries, lower interest rate and lower inflation.
There had suddenly been a deafening silence when the RBI Governor Dr Raghuram Rajan recently asked the real estate developers to reduce the home prices. However, the economist in Rajan was not making a faux pass. He could rather see a supply side of bubble in the making. Therefore, he came harsh on the sector.
In many ways, the year 2015 was a defining one for the residential real estate segment in India. This was the period when the market began to evolve, along with customer expectations as well as market dynamics.