The Union Budget 2012-13 has left the Indian real estate sector grope with the indecision yet again and everyone is wondering whether the Finance Minister’s offer is glass half full or half empty for them.
The office market is likely to observe steady demand, especially in prime locations in leading cities like NCR, Mumbai and Bengaluru.
Realtors who are in the business of developing SME clusters believe in recent years, the metro cities have also seen a good increase in SMEs, which have catapulted themselves into mid- to large sizes within 3 to four years.
Replicating global trends, the Indian economy is looking towards an impending slowdown in growth due to decline in consumption expenditure, repeated hikes in interest rates and consistently high inflation.
While many of the Indian cities are reeling under the apprehension of slowdown with sales nosediving, Pune real estate has defied any such apprehensions.
The world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
In an effort to enhance professionalism in the industry, RICS has launched its Red Book of Valuation Standards and Global real estate agency and brokerage standards at the recently concluded real estate conference in Mumbai.
Come budget and the real estate sector, like any other industry, comes out with its own wish list. Unfortunately, while other organised industry get a patient hearing through their industry bodies, the Finance minister seem to be hardly entertaining the sector representatives till recently.
SARE Homes (South Asian Real Estate) is launching “Green ParC – II”, the fourth phase of its 65-acre integrated township called “Crescent ParC” in sector 92, Gurgaon. This township is strategically located on the Gurgaon growth corridor, on the arterial 60-meter wide road, approximately 40 minutes from the IGI Airport and in close proximity to the Dwarka & KMP expressways, and the industrial hub of IMT, Manesar.
The Information Technology sector has a special significance for India, because India’s competence in this sector has made it a net exporter of IT services. It was the fastest growing sector of the nineties and continues to fast-track careers, spending power, local economies and real estate growth even today.