The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatized, professional organizations funded with public capital and having multiple market and product strategies.
According to the 2011 census, the Mumbai Metropolitan Region has over 23.5 million people. To house this population on the ground floor, assuming a household size of 4 and dwelling units of 900 sq ft per family which are laid wall to wall, we would need 121,384 acres of contiguous land.
In India, investor interest is also seeing a slowdown on account of the lower absorption of new developments and the disparity between investment returns and capital values.
The Supreme Court today admitted Sahara India Real Estate Corporation Limited (SIRECL’s) plea challenging the Securities Appellate Tribunal order directing it to refund around Rs.17,400 crore to investors who had invested in its OFCDs.
Real estate consultants Jones Lang LaSalle in conjunction with law firm Blake Dawson, have launched The Asia Pacific Property Investment Guide 2012, a comprehensive guide to how real estate markets operate across Asia Pacific.
International hospitality major Wyndham Hotel Group has entered into a partnership with Ahmedabad-based Unique Mercantile to develop 35 hotels in India under Howard Johnson brand in the next five years.
Market report has it that commercial realty is continuously going into red. A Report by the Royal Institution of Chartered Surveyors (RICS) suggests Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has welcomed the decision of the Government to approve the Development Plan (DP) for 23 villages of Pune saying it would provide a fillip to growth.
Amidst the turbulence of many of the world’s largest economies, particularly in western markets such as the US and European economies, the broader macro economic outlook in Asia is encouraging.
Global financial uncertainty, shrinking demand, liquidity crunch, repo hike and demand-supply mismatch…all is not well with the commercial real estate in India.