Commercial real estate demand surges as recession ends, with 9.2 million sq ft leased in three months, up from 5.8 million sq ft in 2009.
Lodha Developers and others engage in significant land deals, with Lodha planning a massive IPO and residential project in Mumbai.
The economic slowdown has led to significant price drops for homes in the National Capital Region, creating a buying opportunity despite project delays from developers.
Residential real estate slump spreads to tier-2, tier-3 cities, with 25% drop in housing demand due to higher borrowing costs.
Real estate developers are offering incentives like "No EMI till possession" and "EMI holidays" to boost sales amid a sluggish market. These offers aim to attract end-users by easing the financial burden until project completion.
BPTP Ltd has requested an extension to pay the first installment for acquiring 94 acres in Noida due to a liquidity crunch amidst financial market turmoil.
Despite a real estate slowdown, land deals in India thrived in Q1 2008, reaching Rs 23,000 crore, with another Rs 10,000 crore in the pipeline.
Citibank's Property Investment unit invests $160 million in BPTP's SPV, acquiring a 40% stake to develop four SEZs in NCR, signaling strong investor confidence.
Realty giants are embracing the affordable housing sector, launching low-cost residential projects targeting small and mid-income buyers in various Indian cities.
BPTP secures a 95-acre commercial plot in Noida for Rs 5006 crore, signaling robust real estate activity and positioning Noida as a competitive office space alternative.