Realty sector wants industry status in Union Budget
Property consultants and real estate developers have demanded industry status to the realty sector in the forthcoming Budget.
Property consultants and real estate developers have demanded industry status to the realty sector in the forthcoming Budget.
Mumbai continues to be the costliest property market in India but the sales graph show this value has started taking its toll on the volume. Property registration in India’s biggest real estate market continued its slide and in September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
RBI’s latest notification says that stamp duty, registration and other charges should be excluded while calculating the value of a property. This is expected to have a short-term impact and is unlikely to turn out to be a show stopper.
The Information Technology sector has a special significance for India, because India’s competence in this sector has made it a net exporter of IT services. It was the fastest growing sector of the nineties and continues to fast-track careers, spending power, local economies and real estate growth even today.
Rohan Sharma, Manager – Research & Real Estate Intelligence Service,…
The last few months have seen a lot of mid-sized office and mixed-use buildings in Mumbai going under the hammer. Not very surprising, considering the wave of real estate redevelopment that has swept the city. What is so unusual about these buildings is the fact that they are going to be redeveloped into stand-alone retail formats.
Judging by feedback obtained from a cross-section of Indian retail players, it emerges that most retailers perceived 2011 to be a flat year.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
Bengaluru’s hotels market has evolved over the last decade, growing in tandem with the city’s emergence as a significant commercial destination largely driven by the IT/ITeS sector.
The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatized, professional organizations funded with public capital and having multiple market and product strategies.