As sales of residential properties start to pick up in the metros and other large cities, smaller cities such as Pune, Nagpur, Jaipur and Mysore are far from showing any signs of recovery.
Analysts say the smaller markets, where real estate prices have crashed 30-40% since mid-2008, will need another eight-nine months for demand to start reviving.
Between 2005 and 2007, a period that saw a surge in India’s realty market, firms such as Sobha Developers Ltd, Brigade Enterprises Ltd, Omaxe Ltd and Parsvnath Developers Ltd entered smaller, tier II property markets to cash in on cheap and easily available land. Millions of sq. ft of developed area remains unsold.
More : livemint.com
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The savvy Indian investor is no longer content with restricting his investment horizon to the equity or property markets at home. A growing number of Indians are now buying property abroad and also taking an exposure to stocks of foreign firms and debt products. Hard numbers are a testimony to this fact.
From a mere $9.6 million in FY05, when the Reserve Bank of India (RBI) eased the norms for investing abroad by individuals, overseas remittances topped $440.5 million in FY08, according to recent data released by RBI. And there are signs that the momentum on outbound flows could well
The property markets of Asia Pacific region, which saw robust growth in last few years, are now facing a slowdown that is expected to continue for at least a year, global real estate consultant Jones Lang LaSalle
said in its latest report.
The Asia Pacific property markets are entering a correction phase that will continue over the next 12 months at least, Jones Lang LaSalle (JLL) Head of Research (Asia Pacific) Jane Murray said in a report Asia Pacific Property Digest Second quarter 2008.
The rapid run-up in rents and capital values seen in recent years has come
The final quarter of 2009 has seen a broad improvement in interest shown for emergent property markets in Morocco and India. With the United Kingdom and India having enjoyed a historic relationship over the past 150 years, including a British Indian population settled in many parts of the UK, it comes as welcome news for the one of the world's new economic powerhouses to receive increased investment interest from UK property investors.
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It s no surprise that students are driving certain micro property markets around the country. In fact, this segment has the power to change
the dynamics of some areas. Student-centric areas represent a steady income flow for landlords, since they are bound to always have takers.
Besides a good rental income for owners, large student clusters also fuel the demand for small retail establishments around these areas.
Most cities in India have their educational hubs. Some are even synonymous as student cities. Ranchi, Bangalore, Pune and Kota are known as big centres of education.
More : economictimes.indiatimes.com
To cater to the non-IT market, developers are discounting future rentals to generate cash flows during the downturn.
Developers of work places are shifting their focus to non-infotech companies and building smaller offices to buck the slowdown in the commercial property market, realty companies and consultants said.
The demand for IT space has come down substantially, and we are focusing more on non-IT space.We are developing 2.5 million sq ft of commercial space, of which 1.5m sq ft has already been delivered and the rest will be completed in the next few months, said R Nagaraju, deputy general manager, corporate planning, Unitech,
