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.
The world’s housing markets moved clearly down during the year to the first quarter of 2012, according to the Global Property Guide’s latest house price indices survey. House prices fell in 24 countries, of the 36 countries for which quarterly house price statistics are available, and rose in only 12 countries.
Chicago-headquartered Hyatt Hotels Group is betting big on the upper-midscale segment in India. Its growth in India is going to be driven by three of its brands — Hyatt Place, Hyatt House and Hyatt Regency. It has already firmed up plans for the first Hyatt Place in the country, likely to be launched at Hampi in Karnataka in June.
Rohan Sharma, Manager – Research & Real Estate Intelligence Service,…
Cumulative take-up across India‟s seven largest cities increased by a modest 8% year-on-year (y-o-y) in 2011.
Hyatt Hotels Corporation has introduced its new Hyatt House extended-stay brand in India, with the signing of a management agreement by a Hyatt affiliate for a hotel in Mumbai.
Red Fort Capital, an India-focussed real estate private equity firm,…