Follow us on   Twitter   Facebook   Explore Trade Now Feedback
Budget 2015 »Budget & Industry»Budget & Industry Details
Budget & Industry Details
Back

Sales elude realty sector, all eyes on Budget

Mansi Taneja / New Delhi 23 Feb 15 | 12:38 AM
107 Replies

Aman Verma (name changed) is looking for a decent home in the National Capital Region (NCR) for the past few months but is nowhere close to finding a property that suits his budget. High home loan interest rates are another hurdle. This explains the Indian realty market: Enquiries have gone up substantially in the past six months but home sales have hardly seen an uptake.

According to experts, a revival in the sector is still 12-18 months away. Developers are expecting major announcements in the coming Budget, which will push up the pent demand in the sector, especially in the affordable segment.

In 2014, the residential property market across top cities, including Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, saw a 28 per cent decline in new launches and 17 per cent in sales volume compared to 2013, according to a report by real estate consultancy firm Knight Frank.

A total of 234,930 units were sold in 2014, compared to 284,550 units in 2013. Similarly, 268,950 units were launched in 2014, against 372,160 units in 2013.

According to CBRE South Asia chairman and managing director Anshuman Magazine, there is no major uptake in sales. "Sales at the right location with right pricing are still happening. But overall, there has been no improvement. The market is not picking up. Moreover, the turnaround period is large in the realty sector, unlike share markets."

He added the government should announce incentives to stimulate demand, including lowering of interest rates or a low cut-off for affordable housing in terms of ticket size or a low down-payment required for purchasing a house.

"It is worse than the post-global financial crisis. Sales are not happening. So, this is a good opportunity to buy. We are at the bottom; it can only go up from here," said Magazine.

Ashutosh Limaye, head of research and Real Estate Intelligence Service at JLL India, also said demand had not picked up in the manner expected after increased enquiries and inspection visits.

"There are a few takers if developers come out with limited period offers and other deals. But there is only a minimal increase in sales in the overall sector," he said, adding the sector was keenly awaiting announcements in the Budget to push the sector back to revival mode.

Developers expect big announcements in the Budget that might push up demand in the sector. According to Getamber Anand, president-elect, Confederation of Real Estate Developers' Associations of India, the government should provide some fiscal incentives to developers for affordable housing.




107 Replies

Comments

    12 Oct 21 at 01:17 PM
By: RobertBarber

i really impressed with your post . i love travelling . thanks for providing such information dua to make him think of me

    08 Oct 21 at 03:44 PM
By: JackBayon

Another major expectation of Real Estate industry is extending higher tax relief for home buyers in the upcoming budget. dua for girlfriend love back

    22 Sep 21 at 05:52 PM
By: RianaJerry

Thank you so much for ding the impressive job here, everyone will surely like your post. best tantrik in Nashik

    21 Sep 21 at 04:45 PM
By: Amelia786

There is a lot of work yet to be done in the sector. Both officials and developers need to play their roles. I often used to listen to experts in this field here on CNN live stream without cable for the latest updates in the sector.

    07 Sep 21 at 01:07 PM
By: LisaNoto

I read your blog article. It has very useful information here. thanks! free love spells that work for real

    06 Sep 21 at 05:30 PM
By: MariaBJiles

I wanted to thank you for this excellent read!! I certainly loved every bit of it Vashikaran Mantra

    01 Sep 21 at 04:24 PM
By: CathyRussell

It’s very helpful for me also, I would follow all these tips, whatever you shared here surah al-qariah wazifa for love

    31 Aug 21 at 05:09 PM
By: KaiRoss

I really like the way you are working here!Keep it up best tantrik in chennai

    18 Aug 21 at 02:44 PM
By: MichaelHiggins

Thanks For sharing a such a good post hopes it helps for every one and appreciate your work keep sharing real free love spells that work

    03 Aug 21 at 04:24 PM
By: KatherineAlexander

Nice article, thanks for the information. It's very complete information. pati ko vash mein karne ke totke

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | | Next




Leave a reply


Name: 
Email: * 
Comment: *
(Max. 1000 characters)
 
Word Verification: * 
 Comment 

Related Stories

    Quick Jump

    Budget Glossary

    • Appropriation Bill: It is presented to Parliament for its approval, so that the government can withdraw from the Consolidated Fund the amounts required for meeting the expenditure charged on the Consolidated Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill is voted is enacted.

    Budget Trivia

    • Pranab Mukherjee's first Budget in 1982 included one provision that set the stage for India Inc's most celebrated takeover battle.
    Widgets Magazine