Retail set for a strong and steady 2012
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
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.
Anything said on the contribution of K P Singh to the evolution of Indian real estate would be stating the obvious.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has said that the draft Real Estate Bill should not penalise only the developer for time overruns but instead cover the liability of all stakeholders, including government agencies and urban local bodies.
The Maharashtra Chamber of Housing Industry (MCHI) has thanked the Maharashtra Chief Minister for his assurance that the Ready Reckoner rates for real estate industry may not be increased in the New Year.