Does it any way suggest that Kolkata has come up to luxury landscape and ultra luxury property pyramid due to lower ticket size. Conservative industry estimate, on the contrary, suggests that the city has been witness to 20% rise in sale of luxury properties amidst the overall slowdown.
The entry of corporate giants into the real estate space is all set to take the Noida growth story to the next level. Already, Godrej Properties and Tata Housing have entered into Noida market through a joint development model. The market buzz has it that a couple of more corporate giants are to soon announce their Noida entry.
An analysis by Track2Realty vis-à-vis the volume of office space consumption per household – not only in India but also internationally in London, Singapore, New York, Tokyo etc concludes that there is equilibrium when the office space consumption is around 60-65 sq feet per household. In India it is rather surprising that the ratio per household even in a city like Mumbai is 25 sq feet. Kolkata has a dismal only 14-15 sq feet office space per household. In Delhi-NCR it is again 20-25 sq feet per household.
It is noteworthy that Supertech has not only hit by the dissatisfied homebuyers but also been at the receiving end of government agencies and the law for two of its most ambitious projects, Emerald Court and Czar.
The hopes of middle class homebuyers have dashed and they blame the Finance Minister for presenting an election-oriented budget. Many even question the direction of the government where the focus has suddenly shifted towards the rural and farm sector in the last full budget presented by this government.
The Consumer Confidence Report 20:20 finds that the developers who have been focused on the buyers with quality projects and meaningful dialogue have been rated higher by the consumers at a pan-India level.
The fact of the matter is that in the absence of any regulation that defines the standard measurement of super built-up area, built-up area and carpet area, every developer defines it as per his convenience. There is no scientific methodology that defines what is an ideal loading percentage.
Track2Realty lists down the assessment by Colliers International that will drive the Asia property market in 2018. Here are the Top trends that is expected to be in the headlines.
The fact of the matter is that any prospective buyer in Noida who does not have budget constraints would be tempted to buy an apartment along this stretch. Most of the projects that have come up in the last six to seven years are premium category projects with ultra modern amenities and facilities. Among the newly developed locations, the habitation has hence been faster in this region.
What would hurt both the buyers as well as the builders is the fact that the property buying and selling would continue to be at standstill. The job market is not picking in any given industry and it would hurt the overall business.