It has been strangely characteristic for the real estate and construction industry in India to remain unregulated and unrecognized, even though it is one of the largest employers and contributors to national growth.
It is a highly disappointing budget. The Finance Minister has miserably failed in highlighting the importance the role of Housing in economy, employment generation, apart from the very need of housing. The announcements on ECB for affordable housing is a minor respite but still meaningless.
It has been a difficult market to be in as a developer. Rising interest rates have impacted the customer interest in new properties moderating the flow of new funds and in addition to that high inflation and rising commodity prices have increased substantially the delivery cost for existing projects.
Rohan Sharma, Manager – Research & Real Estate Intelligence Service,…
A recent industry report shows that FDI in 2010-11 was the lowest in the last four years. According to the FICCI-Ernst & Young real estate report, the FDI in the sector declined to 6 per cent of the total direct investment coming to India in 2010-11.
Will 2011 carry forward gloom in the realty market? That is the question on everybody’s lips today and the sector seems to be only praying that the worst has been left behind in 2011.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has said that the draft Real Estate Bill should not penalise only the developer for time overruns but instead cover the liability of all stakeholders, including government agencies and urban local bodies.
Amrapali Group is negotiating to raise about Rs.220 crore from private equity (PE) firms to fund the construction of two of its large residential projects in Noida.
RICS launched a revolutionary concrete panel based mass housing concept – known as ‘India Concept House (ICH)’ in partnership with Sam Circle Venture and its partners, KieranTimberlake and ProjectWell.
RICS has released its research report ‘Real Estate and Construction Professionals in India by 2020’.