The real estate market sees a surge in demand for 2BHK apartments, mainly driven by middle-income, nuclear families and first-time buyers.
Commercial real estate faces dwindling demand, impacting lending. Oversupply and low occupancy rates make banks cautious, impacting developers seeking funding.
Mumbai anticipates highest residential demand, while Bangalore leads in office and retail space. Pune shows strong retail growth potential.
Office rentals in Gurgaon have skyrocketed, pushing companies to relocate to other cities like Delhi and seek furnished spaces at more affordable rates.
Indian banks urge property developers to halt price increases to sustain market recovery. Developers' short-sighted price hikes could deter buyers and stall the fragile housing market rebound.
A global real estate consultant warns that the US economic slowdown could reduce demand for IT/ITeS office space in Gurgaon and Noida in 2H08, impacting growth in Delhi NCR suburbs.