An overcautious year ahead for real estate sector-II
The office market is likely to observe steady demand, especially in prime locations in leading cities like NCR, Mumbai and Bengaluru.
The office market is likely to observe steady demand, especially in prime locations in leading cities like NCR, Mumbai and Bengaluru.
Netscribes, a knowledge consulting solutions company, announces the launch of its report Facilities Management Services Market in India 2012.
It seems the euphoria within the realty sector over the proposed income tax exemption limit on housing loans from Rs. 1.5 lakhs to 3 lakhs has faded even before the union Budget 2012-13 is formally presented.
Residential property buyer sentiments in Hyderabad have improved considerably over the last three quarters. There has been a gradual but certain increase in residential demand and absorption. That said, the market is still a long way from touching the 2007- 2008 levels.
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.
Small & Medium Enterprises (SMEs) have come a long way from being seen as mere start-ups. Track2Realty finds that in terms of growth rate they are catalyst to the economic activity and a key demand driver of office space absorption.
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.
Equinox Realty,an arm of oli-to-steel conglomerate Essar Group,plans to sell a minority stake in its biggest commercial asset in Mumbai to raise between 7.5 billion rupees and 10 billion rupees, sources close to the development said.
Manesar was envisaged as a model township encompassing residential real estate as well as commercial office and industrial establishments. Hence, it was appropriately christened as IMT (Integrated Manesar Township).
After a sharp recovery in the first one-and-a-half months of the calendar year — the Bombay Stock Exchange (BSE) Realty Index gained over 50 per cent, real estate stocks seem to have lost steam.