It may be momentary down because of rising interest rate, macro economic hue, affordability issues borne out of demand-supply mismatch and overall market sentiments, but forecast for the residential real estate is definitely robust.
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.
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.
When we launched Track2Realty as India’s 1st e newspaper in January 2011, there were many questions before us—Is there a room for another news venture for the sector?
The year 2011 can best be described as a lackluster year for Indian real estate sector. There were several headwinds that prevented the sector from delivering to its full potential.
GMR Group is set to participate in the modernisation of airports in Brazil, Group Chairman, G.M. Rao has said.
Prabhudas Lilladher (PL) India has come out with report on Real estate`s sector. According to the report sales registrations for the month of November 2011 are down 20% YoY to 4,060 levels.
Pragnya Advisors, the private equity (PE) fund focussed on real estate, has entered into two deals in Colombo and Rajahmundry, Andhra Pradesh for an investment of $100 million second fund.
Diversified Indian conglomerate Piramal Group plans to lend up to $193 million to real estate projects in the current fiscal year to March as it focuses on building its newly launched financial arm, its Chairman said.
While the real estate market looks subdued with the sector weathering a host of issues, this is not a good news either. DLF’s Chairman K P Singh is out of the top ten list of Forbes.