Union Budget 2012-13 – A timid tango of pros and cons
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.
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.
The office market is likely to observe steady demand, especially in prime locations in leading cities like NCR, Mumbai and Bengaluru.
Hyderabad continues to be a favoured destination for investments due to its unique infrastructure, and real estate prospects are promising despite the Telangana agitation.
Replicating global trends, the Indian economy is looking towards an impending slowdown in growth due to decline in consumption expenditure, repeated hikes in interest rates and consistently high inflation.
During the economic downturn of 2008, while the other neighbouring and glamorous property market of Bangalore and Hyderabad fell by 24-29 per cent, the Chennai market fell only 8.3 per cent. Limited supply of land and pent-up demand is how NHB’s Residex defines Chennai property market.
Manesar was envisaged as a model township encompassing residential real estate as well as commercial office and industrial establishments. Hence, it was appropriately christened as IMT (Integrated Manesar Township).
In the environment of cut-throat competition which exists in the Indian real estate market today, developers without a forward-looking marketing plan for their projects often lose out.
The world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
Market forces of demand and supply are the most potent determinants of price and the developments in the real estate industry during year 2011 is the latest example.