Track2Realty Exclusive: The Indian real sector has evoked mixed response to the Union Budget 2013-14, though by and large there is optimism within the sector. Here are some of the responses—
Track2Realty Exclusive: Vidya Basarkod, President, Sales and Marketing, Jaypee Greens believes though the Indian economy has gone through turbulent phase of slowdown, demand for housing has kept the momentum for residential real estate. In an exclusive interview with Track2Realty she asserts though liquidity has been a concern for both the buyers as well as developers, there are more pressing issues hampering the growth of the sector, like delays in approvals, infrastructure bottlenecks and skilled manpower.
Track2Realty: Indiabulls Real Estate Limited (IBREL) today announced robust growth in sales and earnings for the quarter ended December 31, 2012. The company registered total sales of Rs 1,201 crore, up by 267% from Rs 449 crore achieved in Q3 FY12.
Track2Realty-Agencies: After some neglect in the past several years, the realty industry in India finally saw some reforms that had a direct and indirect impact on its fortunes and which led to the some development of the sector in 2012. The prospect of a revival looks brighter once the central bank keeps it promise of cutting interest rates to spur overall growth.
Track2Realty: India’s urban housing shortage is estimated at nearly 18.78mn households in 2012. By 2050, 900mn people will be added to Indian cities. The rapid pace of urbanization owing to the rural–urban migration is putting a strain on the urban infrastructure in these cities, indicates the KPMG – NAREDCO study on Real Estate and Construction industry, “Bridging the Urban Housing Shortage in India”.
Track2Realty-Agencies: To provide cheaper houses for lower income groups, the Ministry of Housing and Urban Poverty Alleviation (HUPA) is working for the inclusion of affordable housing in the infrastructure list.
Track2Realty: The Punjab Deputy Chief Minister Sukhbir Singh Badal showcased on Saturday, Nov 17, prime urban land under the possession of Punjab Government to 137 international and national Real Estate Developers, who assembled in Mumbai under the aegis of Confederation of Real Estate Developers’ Association of India (CREDAI) in a convention organized by them, Punjab land of opportunities.
Track2Realty: CREDAI has expressed strong resentment to the Union Government’s proposal for compulsory reservation of 35% of dwelling units built for the economically weaker sections (EWS).
Track2Realty: Bangalore’s metamorphosis from ‘Garden City’ to India’s ‘Silicon Valley’ has been remarkable. The tremendous growth of the IT / ITES Industry has revolutionized the residential real estate and retail markets, and triggered massive infrastructure development. The availability of high quality, large office spaces at sub–dollar rental levels (providing lower operational costs), access to a large skilled workforce, the growth of the retail and residential markets and Bangalore’s cosmopolitan culture have worked in the city’s favour, making it a preferred destination.
Track2Realty Exclusive: Young professionals in metro cities are no longer the demand drivers of residential property. More than half of them, as many as 57%, say they would prefer to stay in rented apartment and instead invest in their tier-II and tier III city home town for better appreciation potential. 78% of those working professionals with double-income who have bought a house in metro now want to invest in their home town for second home.