Mumbai real estate market – 2012 forecast
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
In all markets around the globe, challenging market conditions – whilst painful at the time – do have a beneficial long-term impact on the market in that they sort out the ‘wheat from the chaff’.
A real estate regulator will enforce public disclosure and bring in much needed transparency and accountability in the sector and there is overwhelming support for setting up such an entity.
Real estate developers have sought inclusion of “force majeure” provisions in the proposed real estate bill drafted by the Central Government.
Issues concerning the regulation and development of real estate were discussed on Wednesday, Jan 11, by the government with various stakeholders.
Regulation is required for any industry to function properly and the real estate industry is no exception. The market is being manipulated by the big and influential real estate lobby causing large inequities in resource and product allocation.
The Enforcement Directorate in India will attach immovable property worth Rs.223 crore of five companies involved in the 2G scam case, after an anti-money laundering court gave its nod on Tuesday, Jan 10.
In India, investor interest is also seeing a slowdown on account of the lower absorption of new developments and the disparity between investment returns and capital values.
Market report has it that commercial realty is continuously going into red. A Report by the Royal Institution of Chartered Surveyors (RICS) suggests Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
With benefits under STPI scheme gone and deadline to fully avail SEZ benefits set for March 2014, demand for SEZ space is expected to witness some momentum in 2012.