Budget flats in focus at MCHI
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.
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.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
IL&FS Investment Managers, India’s only listed private equity fund, has acquired 9.4% shareholding in an Indiabulls’ firm that is developing the 8.3-acre Bharat Mills at Worli in south central Mumbai.
India which is building the world’s second-tallest skyscraper, is catching up with China in an office building boom that may indicate that an economic slowdown is imminent, according to Barclays Capital Research.
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.
John Macomber, Senior Lecturer in real estate, Harvard Business School, says, “I am wary of market timing by residential investors. If you need a home and can afford it, buy a home and hold it.”
Economic growth and real estate performance are two significantly intertwined characteristics. It is widely accepted fact that demand for real estate space is drawn and influenced from economic environment.
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.
Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011 is the latest example.