Track2Realty: Sentiment around Indian real estate among both domestic and international investors has improved in recent times, following the election of a new government and also on account of an upturn in consumer demand, says theEmerging Trends in Real Estate® Asia Pacific 2015 report, published jointly by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).
Track2Realty Exclusive: FICCI has recently released Real Estate Sentiment Index for Q3-2014. The report is also supported by sensitive data being put forth by one of the world’s leading independent real estate consultancy, Knight Frank. The index or a very formal survey conducted by the joint efforts of these two independent organizations revealed a lot about Indian realty market.
Track2Realty: The daily papers are replete with complaints by buyers who had been led astray or otherwise victimized by fly-by-night developers who specialize in launching small one-off projects and then wash their hands off the project. In a market environment where the exists a high degree of customer awareness with regards to most products, how can this continue to happen?
Track2Realty Exclusive: The critics of Mumbai property market for long blamed it for getting saturated with no new avenue of growth. The peninsular city no doubt has a limitation as far as expanding its boundaries are concerned, yet Mumbai is increasingly challenging its geographical limitations. The expansion of the city, not just vertically but horizontally of late, is enough to silence the critics.
Track2Realty Exclusive: Cities come into existence either by design or by default and the first movers (either the local urban bodies or the private developers) give it a definite outlook & shape in terms of urban planning and overall outlook of the given city. This has been the pattern of urbanisation and rise and growth of the cities across the world with Indian being no exception.
Track2Realty: With BJP controlling the Centre and the two biggest real estate markets in India – Mumbai and Gurgaon – the government has to focus on 3 I’s – Infrastructure, Interest reduction and Income generation. With the BJP’s remarkable show in Maharashtra, the state will give a new lease of life to its infrastructure projects across all sectors.
Track2Realty: The month of October saw the government easing Foreign Direct Investment (FDI) norms to boost India’s construction sector. The announcement is expected to widen the sector’s investor-base by allowing FDI in smaller projects of 20,000 sq. m. instead of 50,000 sq. m. from firms with capitalization of US$5 million instead of US$10 million.
Track2Realty: In a land-locked city like Pune, the importance of water is inescapable. Even at a national and global level, climactic changes as well as other factors are causing water levels to decrease.
Track2Realty Exclusive: To say that the home buyers are coming back to the Mumbai market during the festival season would be stating the obvious. The sentiments driven real estate purchase is already visible with the reported marginal price appreciation of residential real estate across the city. The reports of price appreciation do not just reflect the price trend of the city property market; it does indicate a much larger picture where the recovery of economy and sentiments are all driving the market simultaneously.
Track2Realty: A few years back, Hyderabad was offering the likes of Bangalore stiff competition for attracting office space investments. Today, the formation of a new state, a new government and a stabilized political environment are yet to instill the confidence that is needed to revive Hyderabad’s real estate fortunes.