The real estate sector has expressed guarded optimism on Supreme Court ruling that terms as “illegal” any sale of immoveable property through power of attorney (POA) unless the case is “genuine”.
Private equity fund Fire Capital’s promoter has tied up with a clutch of US-based realty firms to form a new company that plans to invest Rs.6,000 crore in the next four years on developing 32,000 homes across the country.
The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
The current global scenario might be one of gloom, with markets in the US and in Europe on the brink of a double dip recession, but interest in Indian real estate is still high among global investors
The festivities around Navratra and Diwali are known to cheer up the sentiments of the property market.
While many of the Indian cities are reeling under the apprehension of slowdown with sales nosediving, Pune real estate has defied any such apprehensions.
DTZ Research estimates that US$316bn of capital will be available to invest in global real estate in 2012, a 4 per cent decrease on its previous estimate at the end of 2010.
The Government has asked private real estate developers to participate in creating affordable housing stock and help in making India slum-free.
Union minister for housing and urban poverty alleviation Kumari Selja has said that the Centre is expected to bring the real estate regulator bill in the winter session.
Foreign direct investment (FDI) in the real-estate sector last year was the lowest in four years, but private equity activity gained momentum during the recent months, according to a study by an Indian industry chamber and a global accountancy firm.