Track2Realty: Buyers remained cautious but searched well for aspirational homes. Developers remained restrained but projects reached completion stages as all segments of the market prepared for a growth phase in Indian property market, aligned to the political optimism in India.
Track2Realty: With the coming of the new government already having improved sentiments in the realty market, as a next step the sector expects India’s economic fundamentals to be tackled on a priority basis before any major changes may be anticipated at an industry-level. Infrastructure projects need to be implemented with a sense of urgency, and more income tax incentives for home loans have to be introduced before we can expect to see any significant impact on the real estate sector.
Track2Realty: The biggest announcement for the real estate sector proposed by the newly elected Government in its Union Budget 2014–15 was the Securities and Exchange Board of India (SEBI) being directed to introduce Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts in India.
Track2Realty: Many developers are trying their best to create new zones and addresses across India that can appeal to HNI property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele.
Track2Realty: The expanding retail footprint of global brands in India has been a major growth driver of retail real estate in the country. In an effort to map and analyze the spread of international retailers, CBRE undertook a research study of more than 300 prominent global retailers—Expanding Horizons of Global Retailers in India—to identify operating trends, expansion strategies, and extent of penetration across leading cities.
Track2Realty Exclusive: One of the most ardent desires of an individual is to own a house with location and comfort being the determining factors in most of the cases. However, to get access to shopping facilities or entertainment hubs or medical care or even to commute to workplace remains a sheer imagination almost beyond fulfilment in India.
Track2Realty: A report in 2013 labelled Mumbai as the 16th most expensive city globally in terms of owning a residential space. The southern region of the island city is seen as the most prime, with locations such as Colaba, Cuffe Parade and Malabar hills topping the price charts. Owning a home in these and similar location of other cities can cost a buyer more than he or she would earn in two lifetimes.
Track2Realty Exclusive: If ever you have not missed a flight out of Mumbai or got delayed to an appointment of lifetime in Mumbai due to traffic bottlenecks, you would probably not understand why India’s commercial capital has been waiting so eagerly for the metro train to roll out. But wait! There is more to just ease of traffic with the metro train in Mumbai becoming a reality.
Track2Realty Exclusive: All major cities are crowded beyond their limits and most are replete with problems like traffic, pollution, housing problems, lack of space, not to mention the ever-rising cost of living. Industry experts believe that integrated townships are the best solution proposed to counter the problem of crowded cities.
Track2Realty Exclusive: The financial capital of India, Mumbai has always been reflective of the business confidence of the country. It is a market that shows the way forward for the investors in general and India Inc in particular, be it on the Sensex or the real estate market. It is hence assumed that if the confidence index in the city is low, it will have a percolating effect on the rest of the markets across the country.