Expectations from 2013 market
But for buyers the big news this year is that of a de facto regulator emerging for the sector. The Competition Commission of India is understood to be investigating about 70 developers across the country for abuse of dominance.
The Commission has already modified the buyer-seller agreement for DLF in two projects in Gurgaon. And this order is a follow through of its order in August last year imposing a stiff penalty on the real estate company.
These are the news that could reverse the slowdown in housing credit in last calendar year. From January 2012 through to the end of the year, housing credit from banks has risen only 8.6 per cent. The positive element is that is marginally better than 2011. The ever increasing cost of inputs, inflation and a weak job market has dampened the demand for houses.
Post the CCI order it will be interesting to see if prices of property correct.
There have been a few infrastructural and financial initiatives started by the government last year, which will begin to show positive impact and act as catalysts for new projects in 2013.
“Greater Noida metro rail network, and the proposed
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