The slowdown in Indian residential real estate over the last few years caused most high net-worth individuals (HNIs) to shun luxury housing and look at other investments within or outside real estate. However, ANAROCK’s latest study indicates that HNIs are now using the tail end of the slowdown in India’s luxury residential market to their advantage.
Browsing: Anuj Puri
Let’s get straight into this question, which has been a concern among all stakeholders – financial planners, property owners, investors and prospective buyers – over the last few years. And only because real estate, particularly residential, did not yield the same returns as it did during its Golden Era of the early 2000s.
The country’s housing market has also seen the highest impact of policy-induced disruptions. Given the fact that the housing market was tainted by malpractices and lack of customer-centricity by developers, the Government had to step in with policy interventions squarely aimed at cleaning up the sector.
During any impending general elections, real estate stakeholders conjecture exhaustively about the likely impact on the real estate market. Conventionally, the period between the announcement of the election date till the final result day is a period marked by caution and hesitancy in the overall real estate market.
Year 2018 was a veritable roller-coaster ride for the Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.
Mumbai’s Dharavi, one of the largest slums in Asia, has been an area of contention for almost two decades now. For all its revelations, the recent blockbuster film ‘Kaala’ only underscored what Mumbaikars, human rights activists, urban planners and real estate developers have known for decades – there is no simple formula for unravelling the complex Dharavi equation.
The ancient Chinese curse ‘may you live in interesting times’ certainly has a lot of pertinence to Indian real estate today. These are doubtlessly ‘interesting’ times for the sector, which has transformed significantly over the last decade. The pace of transformation has been accelerated further by the Central Government’s reformative steps aimed at ushering in ‘Acche Din’ to the realty sector.
Although sustainable real estate is still in a nascent stage in the country, India is actually one of the leading counties when it comes to green buildings development. In fact, India ranks only second after the U.S. in terms of the number of green technology projects and built-up area.
ANAROCK Property Consultants, which former JLL Country Head Anuj Puri launched last month, has appointed Housing.com’s co-founder and ex-CEO Rahul Yadav as Chief Product & Technology Officer.