When the Reserve Bank of India (RBI) was to announce its annual monetary policy for 2012-13 on 17th April, there were widespread concerns of slowing economy, rising inflation, trade deficit of 4 per cent of GDP and drying FDI too emerging as a grace concerns
In addition to professionalism, enacting laws to enforce high standards of disclosure, transparency and corporate governance within the realty sector are also needed in order to minimize investor risk. Specifically with consumer interests in mind, there must be a redressal or complaint handling mechanism that provides much needed recourse against customer grievances.
Greater emphasis needs to be awarded to project delivery in light of the human, physical and monetary resources that are lost as a consequence of such delays. Even in the most robust economy, the challenges involved in construction and delivery of projects are enormous. There are common worries focused on timeliness, costs, performance and delivery. Stakeholders involved across the development process are often insufficiently coordinated to deliver a finished product within budget and on time.
The emergence of the secondary and tertiary cities led to an aggressive increase in hotel development and provided avenues for expansion of hotel brands, which were previously dependent on new opportunities in just the five main cities.
With the real estate industry reeling under an unprecedented crisis, top developers from across the country will meet in Pune for a two-day CREDAI conclave starting Wednesday to brainstorm and find solutions to revive the sector that contributes 6.5% to the GDP.
Amidst cut-throat the hospitality vertical of Indian real estate has done well with hotels across the budget segment witnessing upward movement. Track2Realty exp0lores the emerging trends and also addresses the game changers that has influenced in the past and promises to do so in the year ahead.
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
The rate at which economy is growing our urban centers shall add at least 100 million people by year 2020 merely on the account of urbanization. To provide housing to so many people India needs to invest a trillion dollars over the next 10 years. This is equivalent to 80 times our education budget allocation for year 2011-12.
The Economic Survey, while recognising the importance of the services sector (it accounts for 59 per cent of gross domestic product), has raised concern over the second largest economic activity–housing & real estate. Three months after the government rolled back its decision to allow 51 per cent foreign direct investment (FDI) in multi-brand retail, the survey referred to it as a major challenge before the sector.