The low consumer confidence has been linked as much to peoples’ lack of confidence in their own ability to pay as with the employment uncertainties. Collectively, the buyers’ risk aversion in today’s economy as well as the developers’ unfair business practices have eclipsed real estate like never before.
The Government’s decision to allow 51% FDI in multi-brand retail and 100% FDI in single-brand retail under the automatic route was a definite crowd-pleaser that attracted giants like Walmart to make forays into the country.
Year 2018 was a veritable roller-coaster ride for the Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.
The share of mid-market houses costing INR 20-50 lakh in the overall residential sales in the country has been progressively rising, touching an all-time high of 42 percent of total transactions in the second half of the current financial year 2018-19, according to data released today by India’s largest marketplace for new homes Square Yards.
Two-wheeler loans, consumer durable loans, gold loans, vehicle finance and loan against property are the segments where NBFCs have a very strong presence across the country and enjoy a much larger share than the public sector banks.
India witnessed a robust demand for office spaces in Q3 2018, recording approximately 12.3 million sq ft of gross absorption, indicating a 23% growth over the corresponding period last year. As a result of rising demand coupled with lowering vacancies in premium Grade A buildings, the office rental values have recorded an increase in select micro markets across cities.
The Indian residential market volumes spiraled down in terms of demand and supply almost every successive year in this decade. From a high of 480,000 units in 2010, the supply last year stood at mere 103,000 units across the top 8 cities.
The International Real Estate and Investment Show (IREIS, a B2C sales and networking platform where spot sales are permitted, the 10th edition is bringing leading local and foreign real estate developers under one roof will reflect the attractiveness of UAE‟s real estate sector and will attract investors from various parts of the world.
Piramal Realty has launched Ravit at Piramal Revanta, its 12 acre development in Mulund, Mumbai. Strategically located, the new tower enjoys excellent connectivity and offers 1, 2 & 3-Bed residences.
Piramal Realty has launched second tower, Arav, at its 7 acre signature development, Piramal Aranya. Situated in the heart of Byculla, Piramal Aranya promises to define premium living that encapsulates the plush and culturally poised neighborhood.