Indian commercial property market loses momentum in Q3: RICS
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
The Government will make public the draft Real Estate Regulation and Development Bill, 2011 for comments from stakeholders this week and may subsequently introduce it in the forthcoming winter session of Parliament.
Morgan Stanley Real Estate Investing Managing Director Naresh Naik has resigned to set up a real estate fund house that will invest exclusively in India.
The festival of Diwali has a direct bearing on the property market, and irrespective of the overall macro economic scenario the property transactions around this time of the year have been the maximum.
The much awaited and largely discussed Real Estate (Regulation & Redevelopment) Bill, pending since 2009, is finally been ready and the Government plans to introduce it in the winter session of Parliament after getting Cabinet approval.
Private equity fund Fire Capital’s promoter has tied up with a clutch of US-based realty firms to form a new company that plans to invest Rs.6,000 crore in the next four years on developing 32,000 homes across the country.
The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
The current global scenario might be one of gloom, with markets in the US and in Europe on the brink of a double dip recession, but interest in Indian real estate is still high among global investors
The festivities around Navratra and Diwali are known to cheer up the sentiments of the property market.
While many of the Indian cities are reeling under the apprehension of slowdown with sales nosediving, Pune real estate has defied any such apprehensions.