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Cumulative take-up across India‟s seven largest cities increased by a modest 8% year-on-year (y-o-y) in 2011.
According to the 2011 census, the Mumbai Metropolitan Region has over 23.5 million people. To house this population on the ground floor, assuming a household size of 4 and dwelling units of 900 sq ft per family which are laid wall to wall, we would need 121,384 acres of contiguous land.
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.
In 1962, Edward Lorenz, the renowned mathematician from Massachusetts Institute of Technology, published a paper on Deterministic Non-periodic Flow in the Journal of Atmospheric Sciences.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Despite the strong probability of correction of residential property prices…
Both the economy and the residential property sector are currently in a state of uncertainty. This has resulted in a rather prolonged period of vacillation and hesitancy among home buyers in India.
Both absorption and leasing activity remained robust in Pune in 1H11. Net overall absorption was 2.3 million sq ft (213,591 sqm), with 1.5 million sq ft leased during 2Q11.
Demand continued to be robust in Bangalore with corporates expanding and leasing large spaces.
While buying a house two out of three Indians (70.6%) demand a simpler, more understandable home loan procedure.