It may be momentary down because of rising interest rate, macro economic hue, affordability issues borne out of demand-supply mismatch and overall market sentiments, but forecast for the residential real estate is definitely robust.
The year 2011 can best be described as a lackluster year for Indian real estate sector. There were several headwinds that prevented the sector from delivering to its full potential.
Even as global economic slowdown and uncertainty in financial markets have battered the real estate industry countrywide, properties in Kolkata and Chennai bucked the trend with steady demand in affordable and mid-segment housing.
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
In one of the decade’s largest real estate deals in Kolkata, Ambuja Realty has acquired the RMZ block of Ecospace Business Park in New Town, Rajarhat, Kolkata.
The festivities around Navratra and Diwali are known to cheer up the sentiments of the property market.
Ever since the National Housing Bank (NHB) started preparing residex – an index for tracking the prices of residential properties in 2007, Chennai has been in the news for steep increase in residential prices.
Godrej Properties has entered into a pact with State Bank of India to market its realty projects to customers across India and overseas.
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank.
CRISIL Research says that there will be 5% correction in the realty prices in Ahmedabad this year.