When the Reserve bank of India was announcing the CRR rate cut by 50 base points, the house wife Sugnadha Dubey, glued to TV news channels, couldn’t resist the temptation to call up her husband to know whether the EMI burden on this middle class home owner is going to ease out from next month. With no background of the world of financial jargon, her husband could only assure her with a wishful thinking.
Bangalore-based property firm Century Real Estate Holdings is reportedly setting up a venture capital fund with a corpus of around Rs.100 crore.
Judging by feedback obtained from a cross-section of Indian retail players, it emerges that most retailers perceived 2011 to be a flat year.
IL&FS Investment Managers, India’s only listed private equity fund, has acquired 9.4% shareholding in an Indiabulls’ firm that is developing the 8.3-acre Bharat Mills at Worli in south central Mumbai.
In all markets around the globe, challenging market conditions – whilst painful at the time – do have a beneficial long-term impact on the market in that they sort out the ‘wheat from the chaff’.
John Macomber, Senior Lecturer in real estate, Harvard Business School, says, “I am wary of market timing by residential investors. If you need a home and can afford it, buy a home and hold it.”
The anticipated demand is likely to exert an upward pressure on property prices especially in markets like NCR, Mumbai and Bangalore where the demand-supply gap is high.
Lodha Developers have appointed the yoo design brand under the Creative Direction of Philippe Starck, to design a new residential development at New Cuffe Parade, Mumbai.
The year 2011 can best be described as a lackluster year for Indian real estate sector. There were several headwinds that prevented the sector from delivering to its full potential.
Through the course of 2010, the realty sector evened out into a level playing field, with enough traction in the market to hold investor interest, with several on-going projects being delivered and others being launched.