Mahindra group to foray into low-cost housing
Budget housing is fast becoming big business with more and more real estate companies trying to please the masses with pocket-friendly offerings.
Budget housing is fast becoming big business with more and more real estate companies trying to please the masses with pocket-friendly offerings.
Unsold, vacant, no takers…these words aptly sum up the story for real estate developers into malls in India. Even though retailers are spreading their wings once again after the slowdown, the absorption of malls remains sluggish, leading to high vacancies.
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
Kotak Realty Fund, the property investment arm of India’s Kotak Mahindra Bank, plans to raise as much as USD 500 million by the second quarter of this year, in a bet on the long term case for property in Asia’s third-largest economy, a top official said.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
Four years after Singapore-based Ascott Ltd, a serviced residence operator, entered India, it has decided to part ways with its local partner in a bid to speed up expansion plans and have more control over its proposed projects.
Surging growth in emerging markets such as China and India will boost demand for real estate, although uncertainties such as an oil shock could pose major risks, economist Nouriel Roubini said on Thursday.
As Central Business Districts (CBD) begin to gradually lose their sheen against alternative locations because of their inability to offer Grade A buildings at competitive rates, retrofitting emerges as a preferred option (as compared with redevelopment) for quality improvement to increase the attractiveness and economic life of existing old buildings.
The vision of owning a house is slowly getting clearer for buyers as residential real estate prices are beginning to see the promised correction on the back of hardening interest rates and poor transaction volumes.