Track2Realty Exclusive:
India Offices 2012
Markets remained cautious but poised for an upturn
The year 2012 began on a cautious note, in the wake of a slowdown in domestic economic growth and a tepid outlook on the performance of the world economy. So far during this year (Q1 2012 to Q3 2012), the overall performance of the office real estate market in the country remained mute compared to the same period in 2011.
I welcome all the panelists in the final roundtable for Track2Realty Focus 2013. As we come to the end of 2012, it is time to look in & look ahead as far as the prospects of the realty sector are concerned. In this discussion, we would try to wrap up the year 2012, and see where the sector has been heading to in 2013. So, when you look at the year Mr Sharma, don’t you think “oh! what a waste.” So much was expected this year but nothing has moved forward, be it in terms of administrative reforms, fiscal reforms or land reforms; nothing has gone right for the sector.
Track2Realty: In India, labour shortage is pegged to go up by 65 per cent by the next decade with more workforce moving from traditional brick and mortar industry like the construction and real estate sectors to more lucrative industries such as IT, ITeS, Banking and Telecom.
Track2Realty Exclusive: Slow economic growth affecting housing market
The recent Indian economic growth has been hampered by several domestic and global factors, resulting in the GDP growth plunging to 3 years low at 5.3% in 2QFY13[1]. Factors such as weak global economy, high interest rates, high inflation, high fiscal deficit, and lack of reforms were the primary reason affecting the GDP growth.
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 Exclusive: Come budget and the real estate in the last few years seems to have been repeating the rhetoric of industry status. As a result, year after year it has been a case of realty proposes and the Finance Minister disposes. However, the sector on the eve of 2013-14 makes a strategic shift to be more realistic with its causes and concerns.
Track2Realty: Omaxe Ltd. has launched a Fixed Deposit (FD) Scheme that pays an annualized yield of 15.07% over three years. The company expects to raise Rs 250 crore through this scheme by the end of next financial year.
Track2Realty Exclusive: Kolkata stands out as a case study in land prices suddenly hitting northwards. It has defied the overall slowdown in the real estate sector and exorbitant land prices are pushing housing prices in Kolkata.
Track2Realty-Agencies: Real estate industry and property consultants today hailed the RBI’s decision to cut key policy rates, saying that it is a positive step that would boost housing demand and encourage foreign investment in the sector.
Track2Realty Exclusive: The real estate clan in the NCR region has come a long way ahead particularly with the housing sector most likely to witness a notable recovery, by the second half of 2013. The rising prices and high interest rates of the RBI have caused a drastic slash in sales. Adverse market dynamics such as high debt, piled up inventory and depressed market conditions took the sector for a rather harsh toll.