Is 2012 right time to buy-I
1st of the series Track2Realty Exclusive The never ending debate…
1st of the series Track2Realty Exclusive The never ending debate…
One of the main features of the real estate ecosystem is transparency. However, on the contrary, the market is considered as an information-inefficient market, where seller tends to provide less information to the buyer.
John Macomber, Senior Lecturer in real estate, Harvard Business School, says, “I am wary of market timing by residential investors. If you need a home and can afford it, buy a home and hold it.”
As the second home phenomenon gains currency in the industrially-developed Mumbai-Pune- Nashik belt, real estate firm Eiffel Group has earmarked Rs 300 crore over the next three years to launch more projects in the region, referred to as the state’s ‘golden triangle’.
Economic growth and real estate performance are two significantly intertwined characteristics. It is widely accepted fact that demand for real estate space is drawn and influenced from economic environment.
The Maharashtra Chamber of Housing Industry (MCHI) has cried foul over the State government’s decision to hike its Ready Reckoner rates that guide the stamp duty and other levies.
In view of the adverse publicity and shaken customer confidence arising out of significant delays in delivery of projects across the states, there is a strong acceptance of this matter by top management of the developers and investors alike.
The anticipated demand is likely to exert an upward pressure on property prices especially in markets like NCR, Mumbai and Bangalore where the demand-supply gap is high.
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.
Year 2011 was a challenging year for the Indian real estate sector. It was a year which brought to the mainstream need for policy level changes.