It is not slowdown for some of the realtors, while others are feeling the heat. If the signature projects of some of the developers are any indication, market is still good if you don’t have crisis of credibility.
In Mumbai sales registrations for July 2011 are down 31% to 5,047 as against 6,500 in July 2010, pointing to the continuing downtrend, said real estate analysts for Prabhudas Lilladher.
Ever since the National Housing Bank (NHB) started preparing residex – an index for tracking the prices of residential properties in 2007, Chennai has been in the news for steep increase in residential prices.
Oberoi Realty plans to expand its land holdings in key cities as debt-laden rivals struggling with rising costs and slowing sales look to cut assets.
New Delhi-based research firm PE Analytics has drawn up plans to launch Real Estate Price Index in partnership with a leading commodity exchange.
India’s real estate stocks have attractive valuations after plunging 83% from their peak and are likely to rebound within two years, according to Macquarie Group.
The Sensex has always been a barometer of the country’s general economic ‘mood’. The real estate index, on the other hand, is an indicator of the sentiments towards real estate developers.
As the Reserve Bank of India meets to review its monetary policy tomorrow, Thursday, the realty sector is getting panicky that if there is a rate hike the sector may see some more pains in the coming days.
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 and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.