Multiple Challenges for HFCs Still in Play: The housing finance sector has been facing challenges, which have led to a contraction in spreads, a rise in funding cost and an increased spotlight on their asset-liability mismatches. Such mismatches have resulted in constrained financing from both market-based sources (CPs and NCDs) and banks for many players.
Further liberalization in FDI policies – 51% FDI in multi-brand retail and 100% FDI in single-brand retail under the automatic route (against the previous 49%) – has attracted major global PE funds to double their investments in the Indian retail sector.
Most of the analysts who track the local property market maintain that the emerging market realities and the economy of the region has changed the way people look at the housing. This change has been pretty fast in the last over a decade. It is a paradigm shift in the housing market of the city.
Bhumika Group is also developing a shopping mall, high-street retail and office space and serviced apartments in the first phase. The company is giving retail space in shopping malls on lease, while office space, high-street retail and service apartments are on sale model.
JLL India has announced key leadership appointments at strategic positions in its Chennai business. Siva Krishnan has been appointed Managing Director, Chennai; Kanchana Krishnan has joined as Head – Markets and Retail, Chennai and Jerry Kingsley has stepped up as Head – Capital Markets, South India and Head – Sri Lanka.
According to a World Bank report, India received USD 79 billion in remittances in 2018 – with a sizeable portion going into real estate. NRI investments into Indian real estate are led Indian expatriates from UAE, USA, UK, and Canada. In terms of Indian cities, Bengaluru, Mumbai, Pune, Hyderabad, Chennai and Delhi-NCR currently attract the lion’s share of NRI investments.
Once completed, Jewar International Airport will not only ease traffic at Delhi’s IGI Airport but also create multiple job opportunities and give decent impetus to the property market in Noida, Greater Noida and Yamuna Expressway. These markets have been reeling under tremendous pressure over the last three to four years, and require a fresh injection of opportunity and intent to overcome this slump.
Delhi-NCR has until now witnessed a similar trend, Bangalore and Hyderabad are fast catching up on this trend as well The study also indicates that tenants are moving from traditional Central Business Districts (CBDs) like Connaught Place in Delhi and Nariman Point in Mumbai to emerging alternate new business districts in Gurgaon and Bandra Kurla Complex, respectively. As a result, with rising vacancies, rentals across CBDs have been witnessing a decline.
The Axis RERA Fund has invested in Akshaya’s ‘Orlando’, a unique township project. The upcoming project is located in Kelambakkam, on the Old Mahabalipuram Road (‘OMR’) – Chennai’s famed IT corridor, which is home to some of India’s biggest IT campuses.
Fintech is transforming the conventional face of financial services in the country at a rapid pace. Indian customers are becoming more tech-savvy, aware and are accordingly seeking products and services which are up to date and are tailor made specific to their needs. Compared to banks Fintech firms clearly have an edge in terms of product delivery and customization.