In the country’s commercial capital, Mumbai, over a dozen large developers and double their number of smaller ones are selling office properties as well, according to Ashok Kumar, Principal and Managing Director of Cresa Partners, a corporate realty services firm.
First generation of commercial realty saw sales model and then the Indian developers learnt the global pattern of lease model.
Judging by feedback obtained from a cross-section of Indian retail players, it emerges that most retailers perceived 2011 to be a flat year.
With its focus on budget flats, the four-day MCHI Suburban Property Exhibition 2012 will kick-start at Maxus Mall, Bhayander West, on the Republic Day.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatized, professional organizations funded with public capital and having multiple market and product strategies.
In India, investor interest is also seeing a slowdown on account of the lower absorption of new developments and the disparity between investment returns and capital values.
Global financial uncertainty, shrinking demand, liquidity crunch, repo hike and demand-supply mismatch…all is not well with the commercial real estate in India.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
Battling huge vacancies, piling inventories and lacklustre rentals, the Indian real estate is looking forward to retail FDI as a savior, expecting a windfall following the entry of global giants looking for more retail space for expansion.