Indian real estate sector is rising from deep
According to a new report, realty sector of India, which has been floating in loss and debts of builders, over past few years, seems to have begun to rise from the bottom.
Aashiesh Agarwal, real estate analyst at Edelweiss Securities, expressed his views on the progress of real estate, in the report released on Wednesday.
He quotes that the factors such as, increasing real estate demand in Mumbai, prospering demand across micro markets, debt stability of builders and a sharp reduction in exposure of the banking sector to retail home loans, prove that Indian real estate has started to flourish.
All major cities, other than Hyderabad, have witnessed a sound sales volume in the recent reports.
Pune saw an increase in volumes while Mumbai remained stiff. Pune saw 34 per cent growth in sales volume. The National Capital Region (NCR) saw a 14.8 per cent hike in the March quarter while Chennai saw an increase of 29 per cent.
As per the sales date reported by DLF, there is 28 per cent increase in the sales volume of 11 major real estate companies on quarter-on-quarter basis. Also about Rs 300 Crore of the net debt of the top 11 companies has been cleared off.
It is made clear that the recent move of Maharashtra government to introduce amended development control rules for Mumbai has led a bright impact on real estate and this will pave way to new launches while also heading towards future growth.
To read more real estate news:
South India witnesses a rise in real estate front
Source: Business Standard
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Your rite,Hyderabad is still waiting for good sales in real estates.
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