Ahmedabad stands out as a city that weathered the market slowdown most smartly and the property market of the city was the first in the country that showed signs of recovery by June 2009 itself. Since then realty in Ahmedabad is back and booming, with nearly 35% appreciation.
The office market is likely to observe steady demand, especially in prime locations in leading cities like NCR, Mumbai and Bengaluru.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.
Recently an acquaintance – a fund manager by profession – relocated to India to set-up a domestic PE fund here. He had invested in a Mumbai residential property strategically located close to the primary business district and an international school for his kid.
Rohan Sharma, Manager – Research & Real Estate Intelligence Service,…
Hyatt Hotels Corporation has introduced its new Hyatt House extended-stay brand in India, with the signing of a management agreement by a Hyatt affiliate for a hotel in Mumbai.
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.
A Knight Frank report suggests revenues of real estate companies have dropped by 19 per cent and profits have declined by 70 per cent, over the past four financial years, since 2007-08.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.