The Information Technology sector has a special significance for India, because India’s competence in this sector has made it a net exporter of IT services. It was the fastest growing sector of the nineties and continues to fast-track careers, spending power, local economies and real estate growth even today.
High real estate costs, lack of any tax incentive and bureaucratic hurdles are huge problems for the growth of the hospitality industry that is one of the country’s top job earners, a survey has revealed.
When the Reserve bank of India was announcing the CRR rate cut by 50 base points, the house wife Sugnadha Dubey, glued to TV news channels, couldn’t resist the temptation to call up her husband to know whether the EMI burden on this middle class home owner is going to ease out from next month. With no background of the world of financial jargon, her husband could only assure her with a wishful thinking.
Mumbai’s residential home sales dropped to a three-year low in the quarter ended December as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt.
Real estate developers have sought inclusion of “force majeure” provisions in the proposed real estate bill drafted by the Central Government.
Issues concerning the regulation and development of real estate were discussed on Wednesday, Jan 11, by the government with various stakeholders.
India has the second largest population in the world and is expected to overtake China by 2025. Fulfilling the housing needs of the Indian population which is growing at 1.41% annually is a tremendous challenge for the government today.
One of the main features of the real estate ecosystem is transparency. However, on the contrary, the market is considered as an information-inefficient market, where seller tends to provide less information to the buyer.
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.
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.