Track2Realty Exclusive-Yearly Analysis: The biggest question for the realty sector today is whether 2013 will help them get out of the vicious circle, which came disguised as the pipeline visibility over the years. Many believe everyone is getting ready with own respective strategy and the year ahead holds promise. Some of the leading companies are already selling their land bank at discounted prices to turn the tide.
Track2Realty Exclusive Yearly Analysis: Residential real estate is defying the conventional wisdom of economics where a constant price hike is not benefitting the real estate companies either. Track2Realty finds with pressure on both the demand and supply side, residential real estate has gone into a vicious cycle of ever increasing cost, falling demand, liquidity crunch and last, but not the least, delay in approvals adding to the woes of the developers.
Track2Realty Exclusive-Yearly Analysis: Many of these cash-strapped developers may find it difficult to get bank loans as well. Bank lending is the single largest source of funding for developers, who require funds primarily for construction finance but also to service debt.
Track2Realty Exclusive: Most of the real estate analysts believe the year 2012 has been pretty disappointing and actually a waste. Anshuman Magazine, CMD of CB Richard Ellis (South Asia), however, feels it was better than expected. He asserts when the global economy is down and the Indian GDP continuously nose diving, any movement is a positive indicator. In an Exclusive Interview with Track2Realty Magazine talks about the learning of the year and sounds cautious with the prospects of the year ahead.
Track2Realty: Real estate sentiment remained fragile through a major part of 2012, as the global economy continued to face strong and persistent headwinds. Economic activity in Europe is seen to be contracting, while growth in the US has been modest.
Track2Realty: Across micro-markets, investor sentiment has been impacted due to inflationary pressures and rising interest rates through the course of 2012, which have only come down marginally with a few policy revisions by the apex bank in the second half of the year.
Track2Realty: MCHI CREDAI has appealed to the Maharashtra Government to slash the ready reckoner rates that form basis for stamp duty.
Track2Realty: India continued to feature in the list of World’s most expensive office markets, with New Delhi (Connaught Place – CBD) moving up from 9th position to 5th position (with an overall occupancy cost of US$ 183.30)according to CBRE Global Research and Consulting’s semi-annual Prime Office Occupancy Costs survey.
Track2Realty: Subdued economic growth on the domestic front and persistent concerns about the economic outlook in USA and Euro Zone moderated business confidence among office space occupiers in 2012. As a result, the major seven cities in India witnessed restrained office space take-up in 2012.
Track2Realty: Provident Housing Limited, a wholly owned subsidiary of Puravankara Projects Limited, is set to launch India’s largest residential township project. This gargantuan project, ‘Provident Sunworth’, is a 6 million square feet project spread over 60 acres , strategically located off Mysore Road near the NICE ring road junction in Bengaluru, within driving distance from Electronics city, Industrial hubs and the IT corridor.