Unsold, vacant, no takers…these words aptly sum up the story for real estate developers into malls in India. Even though retailers are spreading their wings once again after the slowdown, the absorption of malls remains sluggish, leading to high vacancies.
While real-estate and property advertising in India has been mostly lacklustre, a new campaign by Mumbai-based realty developer Oberoi Realty has broken the mould.
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.
When the leading real estate company DLF sold 1250 flats within 2 hours of launch in 2009, there were many eyebrows raised. After all, in a market that was weathering crisis of confidence and liquidity it was hard to believe in the first place.
SFS Homes, a noted builder from the south Indian state of Kerala, is in Qatar to promote its latest projects at Thiruvananthapuram, Kochi, and Guruvayoor.
Ashiana Housing strengthening its Facility Management arm, has launched resale and rental services for Ashianaites.
Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.
The vision of owning a house is slowly getting clearer for buyers as residential real estate prices are beginning to see the promised correction on the back of hardening interest rates and poor transaction volumes.
With the reasonable expectation of a roof over the head not very long ago, the real estate boom in the last decade has scaled up the liberty of choice for the average home buyers. While the aspirations of even the middle and lower middle income with moderate budgets have gone up, there are very many residential projects launched in recent times that seem to fill the gap with the promise of faster deliveries, hi-tech amenities, luxurious lifestyle, lush green surroundings within the affordable range of 20-40 lakhs.
Realty firm Ansal API is looking at a fund infusion of about Rs 500 crore from a host of private equity investors, including IL&FS Investment Managers and Red Fort Capital, for its ongoing construction work in north India.