Realty ratings have not grown in India and the issue of objectivity also makes it prone to criticism. However, there is no second opinion that if a standardised mechanism of real estate rating is evolved, it can differentiate between the men and the boys in the business.
Contrary to the general perception that only the Richie Rich can buy a house in Mumbai, the fact of the matter is that there is something for every budget segment. If not the fancy luxe living in posh areas, a roof over the head is always there with the rider of more money adding to more amenities and lesser travelling distances.
Even for the developers, if he is overly dependent on investor he will deliver a ghost town which is not a god thing for a developer for his subsequent project. Second thing is that an investor is a fair weather friend and the day he is not making money he will be harsh to the developer and talk about him in the circle that matters. That is enough to damage the reputation of the developer.
News Point: The second phase of development at #Piramal Vaikunth…
News Point: With 315 MSF office and 39 MSF mall…
The IT/ITeS sector has clearly been driving corporate real estate in the country; and consequently, much of the development in this space is being propelled by IT and back-office demand for workspaces, as per CBRE’s India report – Real Estate & Workplace Strategies of Shared Services Occupiers.
In the evaluation of sustainability of a housing market, the absorption of office space is the prime indicator across the world. After all, it is the economic activity and the job magnet that fuels the demand for new houses. The city of Mumbai has always been blessed on that count due to demand and supply dynamics.