It seems the Union Finance Minister Arun Jaitley has failed to address the struggling and ailing real estate sector from the standpoint of both the homebuyers as well as the developers. However, what is all the more interesting is the fact that the developers are not overtly complaining. It is only the homebuyers who are sulking while the developers are trying best to put up a brave face.
A budget bonanza is a wish that businesses across the sectors dream about and real estate is no exception. Real estate, as a matter of fact, has to its claim being the key contributor of GDP and job market, besides accelerating a number of allied industries through backward and forward linkages.
A friendly budget is always on the wish list of everyone. Across the industries the stakeholders, including the consumers, have more or less the same expectations with the Finance Minister to call it a friendly budget. But in the context of the Indian real estate a friendly budget for the sector does not necessarily mean a homebuyer friendly budget.
With an investment of INR 600 crores, Provident Park Square at Judicial Layout, Kanakapura Road, Bangalore, is a mixed development project which caters to the needs of the new age home buyer.
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.
India witnessed a growth of 85% in property investments in the first nine months of 2017, compared to the same period last year, says Colliers International’s recently released report titled ‘Of High Growth, Low Real Rates and Black Swans’.
The report highlights the need for new urban centers in the country, and shortlists 45 potential mega-cities such as Nagpur, Lucknow, Jaipur, Kochi and Bhopal, among others.
It is not just about the way the Indian builders operate with media, more often than not, being forced to be a cheer leader, rather the subject itself does not excite the largest contributors in this space – the youth. The kind of creative avenue that they have while writing on various others subjects, like travel to food and fashion to lifestyle is something that the brick & mortar business does not provide them. After all, the bloggers would not necessarily enjoy travelling to project site as the look & feel of most of the projects is identical.
Mumbai has been the undisputed financial capital of India. The emergence of other business destinations, like Bangalore, Gurgaon or Pune could not take the sheen out of the city, even in the wake of infrastructure deficit and other urban problems plaguing the peninsular city. Now the Mumbai city is poised to elevate itself to the next level of business destination. The MMRDA (Mumbai Metropolitan Regional Development Authority) plans to make Mumbai a major global financial hub.
The penetration of basic personal packages of insurance like health or home is dismally low. Health Insurance is less than 10 per cent of the people who can afford it. Home insurance is still less at hardly 1 per cent. So, there is scope for personal lines of insurance especially the retail lines of business to grow exponentially.