Construction for 4.9 million units has begun and 2.6 million units of which have been completed. Given the past trend, additional 1.64 million houses are likely to be sanctioned by December 2019, making it highly possible to achieve the 10 million houses target by 2022. Projected subsidy disbursement over next 3 year for the same is projected to INR 1 trillion.
Knight Frank India has released a report titled “Co-Living – rent a lifestyle” that suggests 72% of millennials (18 – 23 years) have given co-living spaces a thumbs-upand over 55% respondents in the age group of 18 – 35 yearsare willing to rent co-living spaces.
News Point: After 15 years of stint with Knight Frank…
Despite slowdown, Mumbai remains the most lucrative investment destination in India, says the second edition of Knight Frank India Residential Investment Advisory Report 2016.
Track2Realty: Knight Frank India in association with the Federation of Indian Chambers of Commerce & Industry today released its second set of findings of the quarterly Real Estate Sentiment Index. The first index that covered Q4 2013 was released in February, 2014.
Track2Realty: India faces shortage of fresh supply of houses, the Technical Group on the Estimation of Housing Shortage projects the total shortage of dwelling units in urban areas in 2012 to be 18.78 million, said a report by Knight Frank Research.
Track2Realty: New real estate launches in 2012 declined by 30% in 2012, versus a 7% decline seen in 2011. Slowdown in bank credit to real estate amid economic slowdown was attributed to the stagnancy in new ventures, a Knight Frank report said.
Track2Realty: India’s top 25 real estate companies have reported 4% year-on-year decline in cumulative revenues of Rs 67.44 billion in the second quarter ended September 30, another quarter highlighting the slump in the sector, a Knight Frank India report said.
Track2Realty: After 17 long year with Knight Frank, Pranay Vakil has decided to retire. The Indian business has gone from strength to strength under his leadership, increasing employee numbers from an initial 10 to over 800 and opening 7 offices across the Country and with more planned.
Declining property sales coupled with stretched balance sheets is bound to remain a concern in the short-term, leading to a moderation in property prices in some markets, says a report by market research firm Knight Frank.