Now at the year end it is time we conceptualized the idea of a compendium of yearly handbook that could serve as a ready reckoner to the sector, the media, HNIs and the investors who have keen interest in the Indian realty market.
One of the biggest problems afflicting the sector is its high level of debt. The debt load of 11 listed real estate companies stands at Rs.38,500 crore.
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.
In the absence of any serious academic research, the sector in terms of brand presence & cutting edge competitiveness has been lacking, to say the least.
For how long can Indian real estate remain in a state of denial? It is time to get realistic with the ground realities that suggest pre-2007 days are over.
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.
After much talk on accountability and morality in public life where Anna Hazare repeatedly called for donations through cheque and draft to ensure clean money coming to the Lokpal cause, Team Hazare finally accepted money for his Anshan be a small time Mumbai builder.
The global real estate fund of Morgan Stanley is in talks with Mumbai-based Sheth Developers to invest $100-125 million in a residential project in Mumbai, sources with direct knowledge of the development said.
Track2Realty, the e newspaper on Indian real estate has launched India’s first real estate yearly handbook, Focus 2012.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.