Track2Realty: In India, labour shortage is pegged to go up by 65 per cent by the next decade with more workforce moving from traditional brick and mortar industry like the construction and real estate sectors to more lucrative industries such as IT, ITeS, Banking and Telecom.
Track2Realty Exclusive: Slow economic growth affecting housing market
The recent Indian economic growth has been hampered by several domestic and global factors, resulting in the GDP growth plunging to 3 years low at 5.3% in 2QFY13[1]. Factors such as weak global economy, high interest rates, high inflation, high fiscal deficit, and lack of reforms were the primary reason affecting the GDP growth.
Track2Realty: Puravankara Projects is launching a luxury residential apartment project in Rajajinagar, Bangalore. Located in a prime area of Rajajinagar in central west Bengaluru, the project is just 1.4 km from the city railway station and about 2.7 km from the commercial hub, Majestic bus stand.
Track2Realty Exclusive Yearly Analysis: The cash in the industry is fast drying up. Not because banks are reluctant to finance projects but because investors are now shying away as realtors are not being able to deliver on the high returns they promised to investors.
Track2Realty Exclusive Yearly Analysis: Some analysts believe the economy of the scale in the business is helping the developers to hold the stock. They maintain the developer does not put in his own money in financing a project. Even though the cost of land in cities like Mumbai and Delhi accounts for 70-80 percent of the construction cost, at least 50 per cent of the projects are in joint venture with the land owner.
Track2Realty Exclusive Yearly Analysis: Real estate prices have stayed stagnant in 2012 in Mumbai with a mere 0.3 per cent increase in rates, a research report by Knight Frank says. Figure show that real estate sales have been falling by around 25 per cent year after year since 2010 because of high prices.
Track2Realty Exclusive Yearly Analysis: Experts say there are liquidity concerns…
Track2Realty Exclusive Yearly Analysis: Residential real estate is defying the conventional wisdom of economics where a constant price hike is not benefitting the real estate companies either. Track2Realty finds with pressure on both the demand and supply side, residential real estate has gone into a vicious cycle of ever increasing cost, falling demand, liquidity crunch and last, but not the least, delay in approvals adding to the woes of the developers.
Track2Realty: Across micro-markets, investor sentiment has been impacted due to inflationary pressures and rising interest rates through the course of 2012, which have only come down marginally with a few policy revisions by the apex bank in the second half of the year.
Track2Realty: Mumbai-based Omkar Realtors & Developers has partnered with ESPA International to create the first global onsite spa at its upcoming ultra-luxury residential project at Worli, Mumbai.