Land is scarce and the only way in urbanisation is to go up where more FSI/FAR would mean increasing the supply and bringing the price down, goes an old philosophy of the Indian developers. In reality, nearly all the high rises across the Indian cities are high-end luxury projects and seem to fulfil the aspirational needs of the Richie Rich.
Over the last one year, capital values rose by more than 30-35% in Gurgaon’s residential sector. Developers are now going slow on execution of real estate projects, resulting in a drop in supply of residential apartments in most prime markets. Emerging residential areas are still not able to meet the huge housing demand.
During the economic downturn of 2008, while the other neighbouring and glamorous property market of Bangalore and Hyderabad fell by 24-29 per cent, the Chennai market fell only 8.3 per cent. Limited supply of land and pent-up demand is how NHB’s Residex defines Chennai property market.
Rohan Sharma, Manager – Research & Real Estate Intelligence Service,…
With its focus on budget flats, the four-day MCHI Suburban Property Exhibition 2012 will kick-start at Maxus Mall, Bhayander West, on the Republic Day.
1st of the series Track2Realty Exclusive The never ending debate…
The anticipated demand is likely to exert an upward pressure on property prices especially in markets like NCR, Mumbai and Bangalore where the demand-supply gap is high.
At a time when interest rates on home loans are hovering around 11-14 per cent, realty firm BPTP has joined hands with private sector lender HDFC to finance new purchases of houses at just 5.99 per cent for a limited period till December 31.
CREDAI has opposed the proposed Land Acquisition and Rehabilitation & Resettlement (R&R) Bill, and said with proposed R&R to the farmers the construction industry would become an unviable proposition.
Unitech Ltd reported a 47 per cent fall in its net profit for the second quarter ended September 30 on the back of rising input cost and interest rate hike, among other factors.