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Economic slowdown

Commercial real estate demand going down

Commercial real estate demand going down
Analysts said that demand for commercial real estate has dropped around 30 per cent in the past year, due to general economic slowdown. Office rentals witnessed 15 per cent decline in rentals across many locations. In some cases it has come down by as much as 50 per cent. Credit to the commercial real estate [...] Continue Reading »

House prices not affected by economic slowdown

House prices not affected by economic slowdown
The National Housing Bank data shows a peculiar trend that despite economic slowdown in the country, house prices have not suffered. Apparently, house prices have managed to beat the economic slowdown. Rates displayed a rising trend in the April-June quarter as shown in the survey. National Housing Bank showed Pune posted the highest gains in [...] Continue Reading »

Property prices skyrocketing in Mumbai

Property prices skyrocketing in Mumbai
At a time when the real estate sector is going through a lean phase and the inventory level of Mumbai is going up propelled by a dip in sales, the traditional upmarket residential enclaves of south Mumbai – are skyrocketing. The city’s plush Nepean Sea Road area sold for a boggling Rs 1.20 lakh a [...] Continue Reading »

Real estate outlook seen negetive for H212 – Fitch

Real estate outlook seen negetive for H212 – Fitch
According to a report by Fitch Ratings, the real estate sector in India is to face a negative outlook in the second half (H2) of this year. The grim prediction is mainly due to sluggish demand, high construction costs and liquidity pressures. The sluggish demand is not expected to change over few months as RBI’s [...] Continue Reading »

Real estate projects in Mumbai stalled due to changed DCR rules

Real estate projects in Mumbai stalled due to changed DCR rules
Many real estate projects in Mumbai‘s western suburbs have been halted in recent times due to the sluggish demand and new Development Control Rules (DCR). Brihanmumbai Municipal Corporation (BMC) recently came up with a list of delayed projects in Mumbai and the western suburbs accounted for 202 of the 326 stalled projects in the city. [...] Continue Reading »

Real estate gets deeply hit by policy paralysis: CREDAI

Real estate gets deeply hit by policy paralysis: CREDAI
The Confederation of Real Estate Developers Associations of India (CREDAI), the apex body of real estate developers from across the country, expressed that the government’s policy paralysis has severely impacted the real estate sector which is facing stagnation in growth. CREDAI National President, Lalit Kumar Jain said that the economy is in a bad shape [...] Continue Reading »

HMDA raises development charges by 50%

HMDA raises development charges by 50%
Andhra Pradesh government has increased the development charges imposed on builders for construction of buildings in the extended areas of Hyderabad Metropolitan Development Authority (HMDA) by 50 per cent. On July 12, the municipal administration and urban development (MA&UD) department issued the Government Order (GO). Hereafter, builders will now have to pay 75 per cent [...] Continue Reading »

Nation’s economic slowdown smacks tax collection

Nation’s economic slowdown smacks tax collection
Economic slowdown in the country has even hit tax collection in the April-June quarter. Only 6.77 per cent growth in gross direct tax collection has been recorded in the quarter while the target for the year was 15 per cent. The gross tax collection for the quarter was over Rs 1.11 lakh crore as against [...] Continue Reading »

15 per cent fall in office space absorption this year: CBRE

15 per cent fall in office space absorption this year: CBRE
Global realty consultant CBRE on Thursday said absorption level of office spaces in India may come down by about 15 per cent to around 30 million square feet this year due to the current economic slowdown. In the case of large spaces, market is slower and this will lead to fall in office space absorption [...] Continue Reading »

Realtors panic over fall in demand

Realtors panic over fall in demand
Jamshedpur realty, being chased by one or the other crisis, did not yield good response in the first two quarters of 2012. When the developers were finding ways to tide over the Chotanagpur Tenancy (CNT) Act 1908 crisis and Sanjeevani Buildcon fraud episode, the economic slowdown has just hit them hard. Jamshedpur Builders Association Chairman, [...] Continue Reading »



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