Track2Realty Exclusive: With the economy booming in India, the developers are to play an important part as the builders of the nation and are definite to become the most important stakeholders in urban development of the country.
Track2Realty Exclusive: Analysis of East Zone
The transaction activity registered in Kolkata in 2012 was down by 42% during Q1-Q3 2012 compared to the year ago period. The subdued demand is the result of the uncertainty prevailing in both the global as well as domestic markets. Most of the corporates have trimmed their expansion plans and instead looking at consolidation to optimize their real estate usage and bring down the costs.
Track2Realty Exclusive: The Indian real sector has evoked mixed response to the Union Budget 2013-14, though by and large there is optimism within the sector. Here are some of the responses—
Track2Realty: India faces shortage of fresh supply of houses, the Technical Group on the Estimation of Housing Shortage projects the total shortage of dwelling units in urban areas in 2012 to be 18.78 million, said a report by Knight Frank Research.
Track2Realty: 2012 presented the real estate sector with an array of challenges. Valuable lessons were learnt as the real estate markets dealt with the uncertainties surrounding the local and global economic fundamentals. Many of these uncertainties persist in 2013. DTZ is now embarking upon a new journey this year and putting risk back into perspective is the war cry.
Track2Realty Exclusive: West Zone Analysis–The cumulative take-up levels recorded between Q1-Q3 2012 in Mumbai and Pune were the lowest when measured up against transaction activity recorded during similar time frame since 2009. In Mumbai, the first three quarters of 2012 witnessed a total take-up of 2.4 million sq ft which was approximately 44% lower when compared to 2011. Similarly, transaction activity registered in Pune were in 2012 were down by 36% during the same time frame.
Track2Realty-Agencies: DLF aims to cut its net debt by half over the next three years to Rs 10,000-11,000 crore with the help of fresh issue of equity shares, sale of non-core assets and improved cash flows.
Track2Realty Exclusive: Moderation in new supply brought the vacancy down
During 2012, the new supply dropped by a whopping 40% y-o-y to 18 million sq ft, as across many cities, the slow adjustment of supply with the changing demand patterns took effect. Bangalore was the only exception to this, where the new supply rose by a whopping 35% y-o-y, as a number of developments which had been fast tracked in response to the sharp recovery in demand in the city since 2010, got completed during the period.
Track2Realty: DLF lost 2.85% to Rs 246.70 at 11:09 IST on BSE after the company after market hours on Thursday, 14 February 2013, reported weak Q3 December 2012 results at operational level.
Track2Realty: Despite an 83% drop in supply of organised retail space across key cities in the country, 2012 continued to witness an increase in transaction activity and retailer expansion. According to the findings of CBRE’s latest report “Indian Retail Market View H2, 2012”, approximately 2.5 million sq.ft. of fresh retail space entered the market in 2012, mainly concentrated in Bangalore, Kolkata and Pune, as against over 15 million sq.ft. in 2011.