Now at the year end it is time we conceptualized the idea of a compendium of yearly handbook that could serve as a ready reckoner to the sector, the media, HNIs and the investors who have keen interest in the Indian realty market.
Year 2011 was a challenging year for the Indian real estate sector. It was a year which brought to the mainstream need for policy level changes.
One of the biggest problems afflicting the sector is its high level of debt. The debt load of 11 listed real estate companies stands at Rs.38,500 crore.
It may be momentary down because of rising interest rate, macro economic hue, affordability issues borne out of demand-supply mismatch and overall market sentiments, but forecast for the residential real estate is definitely robust.
A Knight Frank report suggests revenues of real estate companies have dropped by 19 per cent and profits have declined by 70 per cent, over the past four financial years, since 2007-08.
In the absence of any serious academic research, the sector in terms of brand presence & cutting edge competitiveness has been lacking, to say the least.
When we launched Track2Realty as India’s 1st e newspaper in January 2011, there were many questions before us—Is there a room for another news venture for the sector?
Track2Realty, the e newspaper on Indian real estate has launched India’s first real estate yearly handbook, Focus 2012.
India-based Pacific Real Estate Development has announced its first property venture in Dubai, the 28-storey luxury tower at Tecom Media City.
K V Abdul Azeez, CMD of Skyline Group, has been chosen the chairman of Confederation of Real Estate Developers Association of India (CREDAI), Kerala.