Today, the world sees India as a land of opportunity for business and investment. RBI head Raghuram Rajan said in mid-September that while fellow BRICs have deep problems, India appears to be an island of relative calm in an ocean of turmoil.
In many ways, the year 2015 was a defining one for the residential real estate segment in India. This was the period when the market began to evolve, along with customer expectations as well as market dynamics.
Millennials are by far the most redefining generation to have appeared over the past five decades. Several traits drive their lifestyle choices, not least among them being a much higher acceptance of diverse lifestyles than previous generations.
Sobha Limited has launched its first commercial Project ‘Sobha City Mall’ at Puzhakkal in Thrissur, Kerala. Situated at the heart of ‘Sobha City’- the first and the largest integrated township in the State, ‘Sobha City Mall’ will offer best-in-class retail and entertainment experience for the customers.
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has launched Luminare Solaris, the next phase of its luxury residential project in Gurgaon, located at Sector 59, Golf Course Extension Road.
The FDI relaxation by the Government of India is being hailed as a game changer across the Indian real estate sector. The developers even point out that now since the government has relaxed foreign direct investment norms in the construction sector by removing two major conditions related to minimum built up area and capital requirement, it simply means that any project under construction, regardless of size, can have access to FDI. So, it is going to help the cause of affordable housing.
When a broker recently suggested Himanshu Kapadia that he should better invest in Ulwe, Dronagiri or Nerul of Navi Mumbai this engineer thought the greedy broker is selling the properties out of which he could make more brokerage. There was nothing common between these three locations and even in terms of price point of the residential properties the three given markets had a different profile.
When the Government of India was announcing relaxation with FDI norms a day ahead of Diwali, many analysts thought it to be a Diwali gift for 15 core sectors that could also prolong the festive spirit for the real estate sector.
Haryana Government would like to address it as pro-farmer move, the real estate sector would like to hail it as investment friendly and others within the built environment of real estate would like to call it a step that would bring to the market more supply and hence affordability.
The year 2015 should have been the year of realization that the days of creating ghost cities with inventory for investors is over. The greedy investor is no more interested in blocking his money with a business where the returns in any of India’s major housing market is not more than six per cent today.