Track2Realty: Real estate in Bihar with most of the cities termed as tier-II and III by many of the developers till late, has bucked all trends of slowdown to soar as one of the most promising real estate market. It is not just the new trend of apartments that is catching fancy of the prosperity that is noticeable in many of the urban areas, but even the land rates still continue to soar.
Bangalore’s luxury residential market seen a major transformation in the recent past, with the Kingfisher Tower setting a new capital values benchmark (northwards of Rs. 30,000/sq.ft) in the super luxury category. The new dynamics being seen now have been referred to as the ‘coming of age’ of Bangalore’s residential market, and I agree with this definition. We are certainly witnessing a remarkable maturing process here.
Interest from international real estate investors in Indian real estate has been limited in 2012. India has witnessed 6% q-o-q growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%, however China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
HCorp Realty Pvt. Ltd. through its subsidiary group company, Blaze Conbuild, offers first-of-its-kind opportunity to own a piece of customised cottage in the lap of Himalayas. The project called Mystic Mountain, is strategically located in the lap of nature in Almora, Uttarakhand. Around 25 km away from Mukteshwar, this is first such project that offers options of individual plots and customised luxury cottages of various sizes.
Greater public and private participation is required in sectors such as railways, ports and power as India looks at investing USD 1 trillion in infrastructure over the next five years, Minister of State for Urban Development Saugata Ray has said.
In Q2 2012, the retail landscape in India was characterized by subdued demand coupled with restrained supply of mall space and largely stable rentals, says a DTZ report. While continued high inflation levels have restrained consumer spending and delayed purchase decisions, the slowdown in economic growth and weak consumer sentiments have resulted in a sense of uncertainity amongst retailers thereby putting expansion plans on hold.
Fitch Ratings says in a new report that the Rating Outlook for the Indian real estate sector continues to be Negative for H212, due to persistent sluggish demand, high construction costs and liquidity pressures.
Industry bodies like NAREDCO can become ideation centers. NAREDCO is actually taking some concrete steps in getting the consumers and developers to connect with the policy makers. Ideally, we need to identify the next line of growth centers. Every city will have its own growth center. That is when we can realise that the consumer is buying what he wants and not what is available.
Jones Lang LaSalle’s REIS findings are in, and a closer look at the 1H12 data reveals relatively subdued activity during the period compared to 1H11. In 1H12, the top seven cities of India together recorded a 35% dip in absorption compared to 1H11. The contraction in demand caused developers to progress more slowly on their projects thereby aligning the supply with demand.
In view of the ever increasing housing shortage in cities and towns, the Union Ministry for Housing & Poverty Alleviation has decided to set up a high-level committee to recommend policy interventions to facilitate creation of rental housing stocks to cater to those who cannot afford to buy houses. The decision comes after several rounds of representation by the industry bodies, CREDAI & NAREDCO.