Worsening the situation at a frightful angle is the global pandemic attack, which led governments to struggle with the new lockdown measures and brought big shifts in the stock markets. Its aftermath will be one of the biggest business challenges of our time – “will employees re-enter the office space?” Workers are concerned about the disinfection strategies being used by commercial complexes.
Projects worth INR 4,64,300 crore for a total of 575,900 units are already significantly behind schedule. These 5,75,900 units have been stuck since 2013 or before. However, what is even more disturbing than these staggering number is the fact that in many of the states RERA has been diluted to the extent that it allows the erring developers with the existing projects to get away with the fault lines.
Access to land is a critical factor for economic growth and poverty reduction. For government, industry, and citizens to be able to use this asset effectively and to minimise disputes, it is important to have access to reliable land and property records. Digitizing these land records is critical for ensuring India’s economic growth, as accessible, high quality records not only helps increase the visibility and availability of land for large-scale investment opportunities, but at an individual level, also makes it possible for the public to transact land and use it for seeking credit in a dispute-free environment.
It is single women and not the married ones who are the real demand drivers of the housing market in India. Contrary to the general perception that marriage is a catalyst for women to look up to house ownership, it is the single women across the cities of India that are more attracted to the property. The choices of single women are as much goaded by the safety of their own roof over head as with the investment horizon.
SOBHA Limited claims to have achieved best ever quarterly sales volume of 1.13 million square feet of Super Built up Area valued at INR 8.88 billion, with an average price realization of INR 7,830 per square feet during Q3-21. Sales volume, total sales value and Sobha share of sales value during Q3-21 were up by 27% ,29% , 28% respectively as compared to Q2-21.
There is no denying that the world has changed for the real estate in this part of the market. Of course, there are acceptances with degree varying, denials and even reluctance to adapt to the new normal. However, what can’t be argued is the fact that the market forces are clearly signaling the paradigm shift from the existing denial & resistance to change.
Union Budget every year is the time when all the stakeholders of the Indian economy look up to the Finance Minister with optimism. Track2Realty noted that across the industries the wants & needs of the demand & supply side are not as juxtaposed as with the real estate. While the developers lobby hard to get the best deal out of the Union Budget, the buyers have their own set of choices and concerns. The Finance Minister is expected to walk a tightrope to balance the concerns of various stakeholders.
Budget after budget the industry voices across the built environment of the Indian real estate echo the causes & concerns of the supply side – builders. On the eve of the Union Budget 2021-22, it is imperative to address the issues that affect the demand side – buyers. Failing to address the buyers issues, would be detrimental to the revival of the sector which, in turn, is critically linked to the revival of the economy at large.
In the financial sector, housing finance is relatively a new concept as the government took interest in the last two decades to diminish the housing problem in India. However, the participation of banks and financial institutions in the housing credit sector has swelled and the sector itself has evolved over the years, fuelled also by the concurrent evolution in government regulations in the sector and real estate industry as a whole.
While the COVID-19 has by and large dented the confidence level of the real estate developers, Aditya Kushwaha, CEO & Director of Axis Ecorp believes there are silver lining for the players who are forward looking in their approach. In an exclusive interview with Track2Realty, Kushwaha asserts that the Work From Home trend would shift the focus from top metro cities to open spaces in and around the tourist destinations. He therefore urges the government to look at the Holiday Home segment as a priority sector.