Plan for future in the ongoing correction phase

Posted: Sunday, Aug 24, 2008 at 2257 hrs IST
Updated: Sunday, Aug 24, 2008 at 2257 hrs IST

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Realty firms on hiring spree againDLF profit crumbles 77%Realty demand up 15% in Q2‘Property rates to fall 25% in 12-15 months’

: at the broader perspective and after referring to industry data, a huge opportunity in this sector is anticipated in the next 10 years. It will be a gradual process wherein the FDI in real estate sector will increase by $21 billion, according to the latest ASSOCHAM report. The current scenario of demand will also start getting better by the next quarter as suggested by Cushman and Wakefield.

The Q2 report by Cushman and Wakefield, on office space in NCR suggests that the office market will remain firm with rental values except for the IT/ITES segment in Noida and Gurgaon, which is expected to by 3% and 13 % respectively over this quarter. However, the demand for office space in general remains firm. This coupled with the huge increase in FDI over the next decade and the growing economy of the nation augers extremely well for the real estate sector in general and particularly the non IT/ITES office segment.

The good news is not just limited to the developers or other players in the real estate market, but customers would also get a lot more in terms of product quality than they have seen in the Indian real estate products so far. This would be ensured by the growing number of FDI projects which demand better standards of quality and design that would further improve the design and quality benchmarks of the whole industry. The soaring residential rentals are also expected to stabilise shortly and this would get the home buyer better deals for their dream homes. Real estate that encompasses a huge gamut of things will change the face of India in the next 10 years. The consumer will have better standard of living and increasing employment opportunities. Therefore, we need to have patience for a little while to optimally utilise the opportunity for real estate players and the buyers. ...

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