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.
The Indian realty estate companies reeling under plunging sales and liquidity issues have something more challenging to negotiate-the piling debt in their balance sheet and the banks’ deadline to repay coming close.
It may be momentary down because of rising interest rate, macro economic hue, affordability issues borne out of demand-supply mismatch and overall market sentiments, but forecast for the residential real estate is definitely robust.
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.
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.
Realty major DLF on Wednesday, Dec 28, announced sale of its information technology special economic zone (IT SEZ) in Pune to Blackstone Group.
When we launched Track2Realty as India’s 1st e newspaper in January 2011, there were many questions before us—Is there a room for another news venture for the sector?
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.
Through the course of 2010, the realty sector evened out into a level playing field, with enough traction in the market to hold investor interest, with several on-going projects being delivered and others being launched.