Home sales across major Indian cities continue to plummet despite developers offering incentives, with Hyderabad experiencing the steepest decline of 46%.
Mumbai's residential property prices have increased by 2.9% to Rs. 11,626 per sq. ft. However, property sales have slowed down, with only a marginal increase of 1%.
Mumbai faces a real estate crisis with Rs275 billion invested since 2005 yielding few returns, leaving many flats vacant and buyers confused amid rising costs and regulatory changes.
Industry experts Pranay Vakil and Pankaj Kapoor discussed real estate trends, issues, and consequences at Moneylife Foundation's event on May 5. They highlighted the need for rental housing, infrastructure, and regulation.
Facility management in India has matured significantly since the 1990s, driven by demand from the IT and BPO sectors, emphasizing the need for professional services.