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.
Residents of Pune looking for affordable housing schemes are pretty disappointed with the 2-day property exhibition, Profest 2012, of Confederation of Real Estate Developers’ Association of India (CREDAI) Pune.
One of the main features of the real estate ecosystem is transparency. However, on the contrary, the market is considered as an information-inefficient market, where seller tends to provide less information to the buyer.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
The Maharashtra Chamber of Housing Industry (MCHI) has cried foul over the State government’s decision to hike its Ready Reckoner rates that guide the stamp duty and other levies.
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.
The year 2011 can best be described as a lackluster year for Indian real estate sector. There were several headwinds that prevented the sector from delivering to its full potential.
What is in store for the real estate sector in 2012 remains the biggest question. Knight Frank believes in terms of the residential segment, the deadlock between the buyers and developers should break in favour of buyers.
The real estate sector in Punjab is likely to witness sluggishness in the run up to Assembly elections in the state next month.