The report “India’s Real Estate Market Outloo 2016” is part of CBRE’s Asia Pacific Markets Outlook Report series. CBRE forecasts that Asia Pacific’s steady economic growth will continue to outpace the rest of the world in 2016.
2015 proved to be a good year for key Indian metros as inflows into real estate by private equity (PE) funds was at a record high. The total investment that the sector got was approximately INR 19,500 crore.
When the going was good the developers did not bother much about the quality of talent; nor did they ever took a conscious call to introspect from the inside of the company and work their way out to create a competitive professional culture.
A homebuyer in Noida wished to sell his newly delivered apartment before the formal registry to the other party. As per the law, there is no transfer charge applicable since the said property has not been registered in the name of the first party itself and stamp duty is yet to be paid. However, he was taken by surprise when the builder asked for Rs. 2 lakh fee in the name of expenses with the Noida Authority.
The builders’ stand is that once the allotment letter is given to the buyers, he has to submit the list to the authority and henceforth there are expenses involved.
With the prices virtually stagnant and the industry being plagued with an ever increasing inventory for sale the market is in a mode of a gradual downward drift. However, even though the city property market has been witness to stagnation, there is still hope in the last quarter of the fiscal year due to underlying factor that while the property prices in the city have increased only nominally, affordability has risen with rising salaries, lower interest rate and lower inflation.
Supertech has launched a housing scheme for serving and retired government employees called Officer’s Enclave in Sector-2, South Of Gurgaon (Sohna), Gurgaon.
Under the UP Government’s scheme to develop sports-centric projects in the state, Supertech Limited has been allotted land to develop sports-centric development, Sports Village, in Knowledge Park, Greater Noida (West). The project is dedicated to the sports enthusiasts who want to learn sports while living there.
At about US$151 per sq. ft. per annum, Delhi’s Central Business District (CBD) of Connaught Place was ranked as the sixth most expensive prime office market in the world, according to CBRE Research’s semi-annual Global Prime Office Occupancy Costs survey.
Private Equity funds, famously known as PEs are invested heavily in the Indian real estate. Even though the sector is emerging only gradually from its slowdown, this could be the golden period of PE investments to invest further, as the opportunities being offered are humungous.
Haryana Government would like to address it as pro-farmer move, the real estate sector would like to hail it as investment friendly and others within the built environment of real estate would like to call it a step that would bring to the market more supply and hence affordability.