As the second-largest employer and a major contributor to the country’s GDP, the real estate industry is one of the Indian economy’s strongest pillars. It cannot remain a neglected stepchild – it must become the apple of the government’s eye. A convincing revival of the Indian real estate sector is essential for the economy to move out of its current slow phase and achieve the mammoth targets – Housing for All by 2022 and making India a $5 trillion economy by FY 2024-25.
The price gap between ready-to-move-in (RTM) and under-construction (UC) homes in the top 7 cities reduced to a mere 3-7% in 2019. The price disparity…
The upsurge of India’s commercial office market began in 2017 and has been further boosted by the arrival of REITs. Commercial real estate in India is driven by strong economic fundamentals, demand for quality Grade A office space, relatively affordable rents, and the new co-working office space trend in key markets.
The top 7 cities currently have a total stock of 5.6 lakh delayed housing units worth a whopping INR Rs 4,51,750 Cr. These units were launched either in 2013 or before that. Lakhs of buyers across top cities – particularly MMR and NCR – have been left in limbo, leading to inconceivable mental stress and financial pain
India Ratings and Research (Ind-Ra) has maintained a stable outlook on commodity and consumption-linked sectors while maintaining a negative outlook on thermal power, public sector…
With affordable housing now being defined within INR 45 lakh budget, more properties qualify for this ‘sweet spot category. The GST cut, coupled with this critical change in definition, will induce more sales in homes falling in this budget range – a win-win for both builder and buyers
Indian façade industry worth INR 15,000 Cr, growing 20% annually; global façade market to reach USD 340 billion by 2024 Fenestration and curtain wall industry…
After decent growth of co-working segment in the last few years, it’s now co-living space which is creating a buzz in India and has potential to become USD 93 billion market annually on rising demand from students and professionals
We must temper our optimism with realism and not expect major boosts for the real estate sector in the Interim Budget. In other words, let’s be realistic and not overly optimistic.
The need is to look beyond minimal tax sops and consider whether they actually make homes affordable and catalyze sales. Perhaps, instead of constantly looking for tax sops, we need to question the very fundamentals of pricing in real estate.