A high rental growth was seen mostly in South cities like Bengaluru, Chennai and Hyderabad where y-o-y change ranged between 8-17% at some locations. In H1 2017, Bengaluru and Hyderabad both witnessed single digit vacancy levels hovering between 8-9% due to a dearth of quality Grade A stock, thus leading to increased rental values in some micro markets.
Independent study has pointed out that Noida’s 14 lakh population generates nearly 660 tones of waste daily. However, the 40-year-old city still does not have a landfill site to dispose its municipal solid waste, which instead is dumped on roadsides and in vacant spaces. The large chunk of this waste is, of late, being dumped along the Noida Expressway.
Ready to move apartments are even bringing the fence sitting buyers back to the market now. With many ready to move and near completion projects available in the Mumbai market, the prospective homebuyers are now coming forward for the standing inventory with more confidence.
Reports of price correction, more often than not, seem to conceal more than it reveal on the pulse of the property barometer. The answer as to whether this is the right time to buy is not a simple yes or no, but it depends on a number of factors like whether a buyer is looking for first or second house, for living or investment, if investment then it is for the long run or short run etc.
In a business that lacked the critical element of trust and transparency, forget brand equity, the entry of corporate conglomerates was widely perceived to be change of business outlook for the sector. The collective consciousness accepted the promise that the corporate giants would change the brand perception of the sector in no time. This load of trust & opportunity goaded many corporate houses into the non-core expertise area of real estate.
In residential space, the speculators can go to North India and invest in a pre-launch and make money in one year or two years. For mid to long-term investors the commercial spaces and retail work much better. But if one is looking at the real long term then one should better invest in land; nothing else can give as much returns as the land.
Bhiwadi, as a matter of fact, has been the first town to conceptualise what is the most need-based housing in India. Facts speak for themselves. There are 98 million people over 55 with a steady growth of 3.5 per cent per annum. In terms of market numbers, in an analysis of 135 urban cities with a total population of 223 million and 52 million households, as many as 12.8 million families have senior citizens.
Amidst all the misleading claims and marketing exaggerations, location mapping is the most glaring one. Generally maps are not to scale and give the wrong perception of the location of the project. For example, the brochure will say 10 minutes from the airport or commercial district; it does not state distance in kilometres.
Largely viewed in the collective consciousness as the most affordable market of Delhi-NCR, probably the authorities did no justice to this market by positioning it as yet another micro market to supplement Noida and Greater Noida. More than the controversies and the litigations, the positioning of the market has been a challenge.
The expectation of an overnight change is because the Act is a result of years of expectations on part of the buyers. The developers, on their part, are also changing their business strategy overnight to play it safe with the new regulatory regime.