Real estate investment in Uttar Pradesh surged 106% between 2008-09 and 2012-13, attracting Rs. 14,000 crore and ranking sixth nationally, according to ASSOCHAM.
India's realty investment fell sharply, with only Rs.42,000 Cr invested, down from Rs.92,600 Cr in 2012, according to ASSOCHAM.
Gujarat led realty investments in the last fiscal year, capturing 41% of total investments, despite a nationwide decline. The state's growth surged by 700%.
The urban development ministry calls for a review of the proposed service tax on housing projects, amidst concerns over its impact on the struggling real estate sector.
The Planning Commission plans to introduce new schemes for real estate in its mid-term appraisal, aiming to prioritize affordable housing amidst sector challenges.
Housing demand in tier-II and tier-III cities plummeted by 35% in the first half of the fiscal year, primarily due to increased borrowing costs, as per Assocham's assessment.
Govt disputes Assocham's job loss forecast, cites domestic-driven economy
Residential real estate slump spreads to tier-2, tier-3 cities, with 25% drop in housing demand due to higher borrowing costs.
Assocham projects $21 billion FDI surge in Indian real estate over next 10 years, driven by high expected returns and anticipated regulatory changes.
India's real estate market is projected to grow significantly, attracting $30 billion in FDI over the next decade. Policy changes, including increasing the minimum construction area for foreign developers, are expected to further boost FDI inflows.
India's real estate sector, driven by internal consumption, experiences 30-40% growth, attracting global investments, despite concerns of an unsustainable bubble forming.
ASSOCHAM urges Goa to create three SEZs in strategic sectors to boost investments and job creation for the youth.