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SOBHA Limited claims to have achieved best ever quarterly sales volume of 1.13 million square feet of Super Built up Area valued at INR 8.88 billion, with an average price realization of INR 7,830 per square feet during Q3-21. Sales volume, total sales value and Sobha share of sales value during Q3-21 were up by 27% ,29% , 28% respectively as compared to Q2-21.
The economists and the real estate analysts are unanimous over the inevitability of the real estate recovery in India. What is nevertheless being debated is when will the sector revive to its normal course of business. What is even more important is to assess what would be the shape of the recovery. In classical economic definition, three of the commonly used recovery shapes are V, U & L shapes. V-Shaped is a strong recovery after the debacle, U-Shaped is a slower and long-drawn recovery, while an L-Shaped aftermath is where the previous peak is not recovered.
There is no denying that the world has changed for the real estate in this part of the market. Of course, there are acceptances with degree varying, denials and even reluctance to adapt to the new normal. However, what can’t be argued is the fact that the market forces are clearly signaling the paradigm shift from the existing denial & resistance to change.
It was expected to be a future ready budget and the overtones in the power corridors were also self-congratulatory in advance. It finally turned out to be pretty ordinary budget for the real estate sector. The stakeholders are nevertheless looking for the silver lining here and there. The most critical stakeholder, the home buyer, is pretty disappointed with the Union Budget 2021-22.
Union Budget every year is the time when all the stakeholders of the Indian economy look up to the Finance Minister with optimism. Track2Realty noted that across the industries the wants & needs of the demand & supply side are not as juxtaposed as with the real estate. While the developers lobby hard to get the best deal out of the Union Budget, the buyers have their own set of choices and concerns. The Finance Minister is expected to walk a tightrope to balance the concerns of various stakeholders.
The 3rd ASLI Annual Senior Care Conclave starting, 22nd Jan, 2021, announced the Association of Senior Living India (ASLI) collaboration with Standards Wise International’s Indian subsidiary – Standards Wise International India (SWII) and CommonAge (CA) to roll out the first-ever standards and accreditation matrix for the private sector in the space of senior living and care communities in India.
In his budget wish list, Amit Modi, Director, ABA Corp & President (Elect), CREDAI Western UP, points out that the real estate sector in India has been through one of the most difficult periods last year due the pandemic effected slowdown in the economy. While there was an upward trajectory in the last quarter of year 2020, due to correction in prices, availability of affordable home loans and the general realization towards the importance of having an adequate shelter during the pandemic, but to seriously start the process of sector revival, there is an urgent and definitive need for reforms from the forthcoming Budget.
Budget after budget the industry voices across the built environment of the Indian real estate echo the causes & concerns of the supply side – builders. On the eve of the Union Budget 2021-22, it is imperative to address the issues that affect the demand side – buyers. Failing to address the buyers issues, would be detrimental to the revival of the sector which, in turn, is critically linked to the revival of the economy at large.
While India is gearing up for COVID-19 vaccine rollout nationally, the onslaught of pandemic posed enormous difficulties for healthy living among the senior cohort of the country. In order to assess and deliberate on the challenges, solutions and future roadmap for senior care and living in India, Association of Senior Living India (ASLI) in partnership with Unmukt – The Senior Hub, today announced its 3rd ASLI Annual Senior Care Conclave to be held virtually from Jan 22 -24, 2021 bringing together key stakeholders in the senior care industry.
New homes supply and sales showed a significant improvement in the fourth quarter of 2020 (Oct–Dec) in line with the ongoing economic recovery with government’ initiatives and increased market confidence providing an added growth impetus.