2012: Year of cautious optimism for real estate-IV
The much anticipated opening up of Foreign Direct Investment (FDI) in multi-brand retail has renewed interest of several large international retailers in Indian retail market.
The much anticipated opening up of Foreign Direct Investment (FDI) in multi-brand retail has renewed interest of several large international retailers in Indian retail market.
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.
Market report has it that commercial realty is continuously going into red. A Report by the Royal Institution of Chartered Surveyors (RICS) suggests Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
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.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
As the second home phenomenon gains currency in the industrially-developed Mumbai-Pune- Nashik belt, real estate firm Eiffel Group has earmarked Rs 300 crore over the next three years to launch more projects in the region, referred to as the state’s ‘golden triangle’.
DLF now extends its footprints further by launching a plotted development, Hyde Park Estate at DLF New Chandigarh and Park Place, a luxury apartment complex in Jalandhar.
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.
GMR Group is set to participate in the modernisation of airports in Brazil, Group Chairman, G.M. Rao has said.
Godrej Properties has entered into a joint venture to develop a group housing project in Undri, Pune.