The real estate sector in Bangalore has grown to a large extent in the past one year. In the year ahead, the city’s realty is expected to grow by 25 per cent, estimates the Karnataka Chapter of the Consortium of Real Estate Developers’ Associations of India (CREDAI).
Lavasa Corporation has announced the launch of Mugaon – the 2nd town to be built at Lavasa. Situated on the banks of the lake, Mugaon will be developed on approximately 2400 acre area and is much larger than Dasve, the first town of Lavasa.
Amidst cut-throat the hospitality vertical of Indian real estate has done well with hotels across the budget segment witnessing upward movement. Track2Realty exp0lores the emerging trends and also addresses the game changers that has influenced in the past and promises to do so in the year ahead.
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
If only the secondary market was any indicator of real estate growth, the argument that that the real estate market is turning bearish in Chandigarh would have been true. But while the prices have softened a bit in the city, the beneficiary is the periphery of Chandigarh that makes the overall property market in the city very bullish and overall economy vibrant.
Sunil Dahiya: Pranay, the most important thing is the background of the investor from the developer’s perspective. My understanding may be a little limited because I come form the Delhi NCR market and as you know, it is a very localized subject. But being in the governing council of NAREDCO at the national level, where Knight Frank is knowledge partner, one of the presentations that we had in 2008 with the idea that where the industry has lost its bearing and funding was the main agenda.
It is a highly disappointing budget. The Finance Minister has miserably failed in highlighting the importance the role of Housing in economy, employment generation, apart from the very need of housing. The announcements on ECB for affordable housing is a minor respite but still meaningless.
The Union Budget 2012-13 has left the Indian real estate sector grope with the indecision yet again and everyone is wondering whether the Finance Minister’s offer is glass half full or half empty for them.
Our reaction to Union Budget 2012-13 is mixed at best. It seems fair to state that the Indian real estate sector does not have much to cheer about.