Monday, 29 December 2014

Achchhe Din! - Sector swears by Modi magic!

Sentiment in the sector among both domestic and international investors has improved in the last few months.

Having gone through a period of prolonged slowdown, India's real estate sector seems to be looking up once again.

Sentiment in the sector-among both domestic and international investors-has improved in the last few months, following the recent initiatives of the Modi government and also on account of an upturn in consumer demand.

“Market sentiment improved in the concluding quarter of 2014, with commercial absorption across the seven major cities picking up considerably. Overall, residential real estate did well in 2014 in terms of absorption of right-priced properties.

Luxury residential real estate, however, fared well only selectively in specific cities like Mumbai, Delhi, and Bangalore,“ Om Ahuja, CEO (Residential Services) of JLL India, said.

Whatever be the case, Year 2014 has been quite fruitful for the real estate sector in terms of business sentiment, although the real effect of many of the policies and amendments announced in 2014 will take effect only in 2015.

Starting from the Union Budget for 2014-15, where affordable housing was considered on par with infrastructure, to relaxation of rigidities in the Land Acquisition and Real Estate Regulatory Bill, India's new Prime Minister has been offering the Indian real estate sector consistent doses of energy, JLL India said in its report. Regulatory bill would be the icing on the cake, as it will help reduce the risk to home-buyers.

Expert Speak:
Beginning with the budget, India's new prime minister has been offering the Indian real estate sector consistent doses of energy.

Source: PropertyaNeoDevelopers.Wordpress.Com

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