Track2Realty Exclusive: Analysis of North zone (Delhi NCR)
Owing to sluggish global and domestic economic growth, high inflation and steep depreciation in rupee value, market sentiment remained subdued during the first three quarters of 2012. International brands are still positive about the Indian growth story.
Track2Realty Exclusive: The costliest property market of the country, Mumbai has for long defied all the conventional wisdom of economics of demand and supply. It has been a market where a substantial dip in demand had no co-relation with the skyrocketing of prices.
Track2Realty Exclusive: Analysis of East Zone
The transaction activity registered in Kolkata in 2012 was down by 42% during Q1-Q3 2012 compared to the year ago period. The subdued demand is the result of the uncertainty prevailing in both the global as well as domestic markets. Most of the corporates have trimmed their expansion plans and instead looking at consolidation to optimize their real estate usage and bring down the costs.
Track2Realty: India faces shortage of fresh supply of houses, the Technical Group on the Estimation of Housing Shortage projects the total shortage of dwelling units in urban areas in 2012 to be 18.78 million, said a report by Knight Frank Research.
Track2Realty: Tata Housing has launched the second phase of its luxury residential development – Amantra. Amantra – Phase II comprises of 565, two and three BHK units, starting at Rs. 5800/- per square feet.
Track2Realty-Agencies: Housing prices have risen in 18 major cities, including Delhi and Mumbai, by up to 9.6 per cent during the October-December period 2012 compared with the previous quarter, according to National Housing Bank (NHB).
Track2Realty: The Reserve Bank of India (RBI) has released final guidelines for issuing new bank licences on Friday. This will pave a way for corporate houses to enter the banking sector.
Track2Realty: 2012 presented the real estate sector with an array of challenges. Valuable lessons were learnt as the real estate markets dealt with the uncertainties surrounding the local and global economic fundamentals. Many of these uncertainties persist in 2013. DTZ is now embarking upon a new journey this year and putting risk back into perspective is the war cry.
Track2Realty Exclusive: West Zone Analysis–The cumulative take-up levels recorded between Q1-Q3 2012 in Mumbai and Pune were the lowest when measured up against transaction activity recorded during similar time frame since 2009. In Mumbai, the first three quarters of 2012 witnessed a total take-up of 2.4 million sq ft which was approximately 44% lower when compared to 2011. Similarly, transaction activity registered in Pune were in 2012 were down by 36% during the same time frame.
Track2Realty: Despite an 83% drop in supply of organised retail space across key cities in the country, 2012 continued to witness an increase in transaction activity and retailer expansion. According to the findings of CBRE’s latest report “Indian Retail Market View H2, 2012”, approximately 2.5 million sq.ft. of fresh retail space entered the market in 2012, mainly concentrated in Bangalore, Kolkata and Pune, as against over 15 million sq.ft. in 2011.