Indian real estate is expected to face “large-scale distress” amid rising borrowing costs and shrinking access to credit that may force developers into fire sales for assets, according to Knight Frank.
Real estate and investment management services provider Jones Lang Lasalle Inc. on Thursday announced its foray into South Africa with the acquisition of corporate property service provider, Bradford McCormack & Associates for an undisclosed amount.
India’s housing shortfall is estimated to be around 27 million and Chennai city alone faces a deficit of 60,000 housing units.