India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
It is mixed sentiments for some players in the real estate industry as IT sector in Bangalore trundles back on purchase mode but Hyderabad displays a cautious sentiment owing to the current political situation.
Even though the Reserve Bank of India (RBI) has reduced the risk weightage on loans to commercial developers and cut general provisioning for commercial real estate, commercial banks may not start lending to the sector immediately.
The real estate industry is witnessing a slowdown. In anticipation of rates to fall, consumers are postponing their purchase plans. Developers, for their part, are finding it difficult to access cheap credit with banks reluctant to lend to them. Both residential and retail demand has moderated though the demand for office space remains strong. Inspite of this, most property cos are expected to post reasonably good Q4 results. Builders are banking on mid-income projects.
Investing in property, especially a home for living, is the best bet in the prevailing environment of ballooning inflation, a top real estate industry official said.
The education programme, to be organised at Hyderabad on June 17 to 20, 2008 in association with HBS India Research Center, would be addressed by HBS faculty and it is designed for senior executives of the real estate industry. During the programme, participants would examine critical issues important to leadership in South Asia's rapidly changing real estate environment. Topics, including project and corporate finance, development and leadership, would be explored.
Maharashtra Navnirman Sena's sons of the soil campaign and the resultant violence have severely affected the real estate industry in Pune. Over 60 per cent construction workers have left the city and this is set to delay the completion of over 55,000 flats in Pune.
RBI's move to keep interest rates unchanged may hit the real estate sector. With rising home loan rates, home sales in metros are likely to be affected.
A host of dynamic reforms, policies and announcements during the last five years are expected to reach its logical fruition in the second term, says Ankit Kansal.
Leading property developers have made offers for this prime property, which real estate industry sources suggest could fetch Fiat more than Rs 300 crore (Rs 3 billion).
It is expected to bring transparency and reinstate consumer faith in the industry, says Brotin Banerjee.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
Rajesh Vardhan, managing director, Vardhman Group, will chat on home loans on Wednesday, September 25, at 3 pm.
RBI, in its first bi-monthly monetary policy statement, left the short-term lending rate, or repo rate, unchanged at 8 per cent and the cash reserve ratio static at 4 per cent.
The real estate industry today hailed the RBI's decision to cut key interest rate, saying the move will boost housing demand and also improve sentiments in the sluggish property market.
Farmers too will get better deals
Liquidity, stable income generation, potential capital appreciation are the benefits from REITs
Rajesh Vardhan, managing director, Vardhman Group, will chat on property redevelopment on Thursday, October 3, at 3 pm.
HR guru Mayank Rautela provides a three-point plan.
'Co-living is a phenomenon that is bound to strike the right chord with young people everywhere and India will lead the charge as the testing ground for all such ideas.'
Maruti Suzukisaid it was trying to offer more factory-fitted CNG cars to address environmental concerns
The proposed ban on cash transactions above Rs 3 lakh may hit luxury goods, jewellery sales and real estate.
India has an urban housing shortage of about 18.7 million units, with 95 per cent of this shortfall in the low-cost housing segment, and 43.7 million in the rural belt.
CREDAI Chairman Lalit Jain said a long term status quo on interest rates would not help prospective home buyers.
The ease with which city-level master plans are altered and land-use patterns changed without considering carrying capacities or the overall environmental footprint of urbanisation in different states has already created water and air pollution crises in several emerging and existing cities.
It has brought down the minimum capital requirement to $5 million from $10 million.
While sale of residential properties increased only marginally despite plethora of steps taken by the government through the year, office space leasing rose 40 per cent to touch an all-time high of 46.5 million sq ft -- a trend that drew investors to lap up India's first Real Estate Investment Trust at an issue size of nearly Rs 5,000 crore.
'The government has just scratched the tip of the surface with the recent announcement. They are not realising the gravity of the situation.'
he hike in service tax rate from 12.5 per cent to 14 per cent will increase the costs of buying
Budget fails to cheer realty players.
About 5.5 million users are looking for real estate online in India
Currently, there's a shortfall of 23 million houses in India.
Provisions of long-term capitals gains tax is now applicable after only two years.
Hailing clear majority for Narendra Modi-led BJP in the polls, real estate experts on Friday said a stable government at the Centre will help revive the property market.
The festival season holds out hope for the real estate industry as demand from end users increases in many markets.
Is it time to take a relook at our economic theories? asks Ajit Balakrishnan.
Construction costs would be reduced to some extent and this benefit can be passed on to the customers, thereby spurring home buying
Expressing disappointment over RBI's decision to hike the key policy rate, real estate developers said this would lead to increase in finance cost and also affect housing demand during the festive season.
Once the new real estate Act is implemented, developers won't be able to cheat you.
Real estate investment trusts may not be attractive enough.
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