Replicating global trends, the Indian economy is looking towards an impending slowdown in growth due to decline in consumption expenditure, repeated hikes in interest rates and consistently high inflation.
During the economic downturn of 2008, while the other neighbouring and glamorous property market of Bangalore and Hyderabad fell by 24-29 per cent, the Chennai market fell only 8.3 per cent. Limited supply of land and pent-up demand is how NHB’s Residex defines Chennai property market.
In an effort to enhance professionalism in the industry, RICS has launched its Red Book of Valuation Standards and Global real estate agency and brokerage standards at the recently concluded real estate conference in Mumbai.
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.
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
With slowdown signs looming large over the Indian economy, the effect on the job market and its subsequent effect on office space is getting visible now.
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”.
Retail chains across the country are signing up for space in a big way, after a long pause that had followed the economic downturn.
The Royal Institution of Chartered Surveyors (RICS), which set up its India operations nearly three years ago, has now formed a new world region ‘RICS South Asia’ as it looks to strengthen its presence in the Asian subcontinent.
The Indian arm of CB Richard Ellis (CBRE), the global real estate consultancy giant, has poached two top real estate fund managers from another global financial major, Credit Suisse.