Perspective on the Indian real estate market
Amidst the turbulence of many of the world’s largest economies, particularly in western markets such as the US and European economies, the broader macro economic outlook in Asia is encouraging.
Amidst the turbulence of many of the world’s largest economies, particularly in western markets such as the US and European economies, the broader macro economic outlook in Asia is encouraging.
India has the second largest population in the world and is expected to overtake China by 2025. Fulfilling the housing needs of the Indian population which is growing at 1.41% annually is a tremendous challenge for the government today.
BPTP is buying back Merrill Lynch’s 49% stake in its Crest office building in Gurgaon for Rs.180 crore. The developer has its corporate office in the same building.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
In view of the adverse publicity and shaken customer confidence arising out of significant delays in delivery of projects across the states, there is a strong acceptance of this matter by top management of the developers and investors alike.
Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011 is the latest example.
Though a depreciating rupee has its fall out on all other economic activity, it is rather helping the Indian property market.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.
TATA Housing has announced its plans to expand its presence in the tier-II cities of India, by signing its first PPP venture in the ‘Temple City of India’ – Bhubaneswar, in association with Bhubaneswar Development Authority (BDA).
In the wake of the real estate community under the industry body CREDAI, asking for only self-regulation and no government regulator, the Union Urban Development Minister Kamal Nath has bluntly refused to heed to any such fancy thoughts.