Property prices to remain stable in Mumbai: MCHI
Real estate prices in the metropolis, one of the most expensive realty markets in the country, are expected to remain stable in the near future, a top industry official said today.
Real estate prices in the metropolis, one of the most expensive realty markets in the country, are expected to remain stable in the near future, a top industry official said today.
Sahara Housing Investment Corp. Ltd and Sahara India Real Estate Corp. Ltd, two firms that are part of the diversified Sahara India Pariwar group, continue to raise money from the public, defying a ban on such activity by capital market regulator Securities and Exchange Board of India (SEBI).
Aanya Real Estate and Luxora Realty jointly are coming up with a green initiative in Nagpur, there are row houses, sky villas, cottages, Olympics sports training center, Schools, Hospitals, Praying Center, thus creating a lifestyle living environment in Nagpur and attracting consumers across India.
While the real estate market in India is far from satisfactory, a section of real estate developers are exploring opportunities in neighboring nations including Sri Lanka and Bangladesh as the governments, seeking to boost economic growth, are providing incentives to develop infrastructure.
“Reduction in taxes and flexibility in approval process will provide affordable homes to the masses. If these two elements are addressed by the government, selling price of the homes will be reduced by at least 33%,” said Lalit Kumar Jain, President of CREDAI.
Maharashtra Chamber of Housing Industry has announced ‘Property 2011’ their 18th Real Estate and Housing Finance Exhibition to be held to be held in Mumbai from April 14-17, 2011.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
This week has been a good one for investors in real estate shares, who had seen their investments lose 30%-55% in value over the past six months in the wake of a number of corruption allegations involving the sector.
Stocks of real estate companies suffered widespread losses on the BSE today dragging down the sectoral index by 3.14 per cent on all-round selling by funds on fears of rate hike by RBI to curb inflation.
Real estate developers are trying to change perceptions. A new team of office bearers which took charge at the Confederation of Real Estate Developers’ Associations of India (CREDAI) has announced to work on a set of measures that will help builders deliver projects on time, redress customer grievances and improve governance to change image and perception of the sector.