In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
An oversupply of commercial office space in Mumbai and other metros could lead to a huge price correction in the country’s realty market.
DTZ Research estimates that US$316bn of capital will be available to invest in global real estate in 2012, a 4 per cent decrease on its previous estimate at the end of 2010.
The Maharashtra Chamber of Housing Industry (MCHI) has welcomed Chief Minister Prithviraj Chavan’s move to ensure sale of residential property by carpet area.
Foreign direct investment (FDI) in the real-estate sector last year was the lowest in four years, but private equity activity gained momentum during the recent months, according to a study by an Indian industry chamber and a global accountancy firm.
Continuous rise in interest rates by the banks is dampening the effort of the real estate companies to reduce debt by selling non-core assets.
The Kerala Government has proposed to constitute a real estate regulatory authority to monitor and guide builders and developers in the State.
The repo rate hike by the Reserve Bank of India (RBI) by 25 bps seems to have spoiled the festive spirit of the real estate sector.
The Indian real estate market has matured to the extent that it is seen as the best investment instrument, leaving behind gold and other traditional investment options.