January 24th, 201244% of Indian housing units unsold
Knight Frank India have announced the launch of their database product “eyestate” in India with some shocking stats coming from it on the state of the market. Read the rest of this entry »
January 15th, 2012Tax waiver coming Salt Lake, Kolkata residents
If you are a resident of Salt Lake and cursing your municipality for not waiving property tax like the Kolkata Municipal Corporation (KMC) did for city dwellers, breathe easy. Read the rest of this entry »
January 7th, 2012NRIs keen on real estate in India with falling rupee
Non-Resident Indians (NRIs) have started taking keen interest in the Indian real estate sector following significant appreciation of the dollar v’s the rupee, a top official of housing finance company said today. Read the rest of this entry »
January 7th, 2012Transport projects to transform Bangalore real estate sector
Bangalore metro rail project
The Bangalore metro rail project would transform the Bangalore real estate sector in this city in three years, similar to what happened in Delhi. Read the rest of this entry »
January 4th, 2012Bearish realty market fails to affect Bangalore
While real estate prices in the volatile Mumbai and the New Delhi are experiencing a sharp decline, Bangalore’s property prices, however, remain unfazed. Read the rest of this entry »
January 1st, 2012Are better times ahead for Indian real estate in 2012?
In 2011 the Indian real estate sector had to grapple with a loss of reputation with its alleged link to the 2G scam, but also dwindling sales and funding constraints.
Huge Drop in Sales
A huge drop in sales due to mounting interest rates which hurt both, cash flows and customer demand, and launches came to a grinding halt. Mumbai real estate was the worst affected. Other markets like Bangalore real estate and NCR continued to see sporadic sales. But even here, the trend was definitely downward.
Priyanka Ghosh of CNBC-TV18 wraps up 2011.
December 19th, 2011Noida extension flat buyers hold protest
Hundreds of Noida Extension flat buyers today held a protest rally demanding early approval of the construction projects from the National Capital Region Planning Board. Read the rest of this entry »
December 12th, 2011Can investing in Indian real estate downturn reap benefits?
global economic turmoil means the Indian real estate sector is bound to be affected in the short to medium term. Will this offer good opportunities to those who are flush with cash to invest in the property in India? Some Industry experts give there views.
Cushman & Wakefield
Executive director of global realty consultancy firm, Cushman & Wakefield, Kaustuv Roy said that 2012 will have to be year for the real estate sector due to some factors which will have a far reaching impact.
Tight liquidity
The developers’ tight liquidity position will cause stress not only to the consumers, but also to the banking sector as their exposure is huge. Because of the tight liquidity condition, developers may find it difficult to deliver on time to the buyers.
Uncertainties in the job markets
At the same time, because of the turmoil in the economy, there will be uncertainties in the job markets too. This may discourage the young buyers, who play an important role in the residential realty market. Therefore, Roy said, in the residential sector, there will be high dependency on the Indian corporate performance, and if the economy is slowing down, demand may dry up, which is likely to lead to residential prices softening.
Jones Lang LaSalle India
These developments will not only dry up the future demand but also lead to tightening of liquidity in the sector. In that case, developers will not go for fresh launches. “The absorption rate – meaning the ratio of sales over inventory in the market – is likely to be low, and the incidence of new launches will decline,” said head, Research & Real Estate Intelligence Service, Jones Lang LaSalle India, Ashutosh Limaye.
Further interest rate hikes by the RBI
“Because of the prevailing uncertainties in the global market and the likelihood of further interest rate hikes by the RBI in the early part of 2012, sentiments in the residential market will remain cautious over the short term,” said Limaye.
Cautious optimism
Roy also said that overall, 2012 will be a year of cautious optimism with the hope that the Indian economy is suitably insulated from the western economies. However, he felt, for the sector 2011 has turned out to be a mixed year. The first half of the year was extremely good, but by August, the market sentiment underwent a change, depicting more caution in the air.
December 6th, 20112012 Residential Property in India Forecast
Uncertainties on the global market and the likelihood of further interest rate hikes by the RBI in the early part of 2012, sentiments on the Indian residential property market will remain cautious over the short term according to Jones Lang LaSalle India. Read the rest of this entry »
December 6th, 2011NRIs buy property in India as rupee falls
Thousands of non-resident Indians (NRIs) who are poised to take advantage of the Indian currency’s record falls by buying property according to The National. Read the rest of this entry »