Senior housing is emerging as a promising real estate sector in India, driven by changing mindsets, financial independence, and a growing senior population.
Rising realty costs trouble homebuyers, 30% price hike since Aug 2009, experts anticipate 15% correction for market buoyancy.
Around 44% of the population earns between Rs 8,500 and Rs 40,000 monthly. Are affordable homes truly accessible to this segment, especially with financing challenges? Expert Arun Mohan proposes solutions in his book "Affordable Housing: How Law and Policy can make it possible."
Residential markets in major Indian cities like Mumbai and NCR saw significant value appreciation in late 2009, driven by an economic slowdown that favored affordable housing.
Indian real estate is experiencing a resurgence due to increased construction, especially in affordable housing, and record-low home loan rates. This has led to renewed optimism among consumers, particularly in Tier II and Tier III cities.
Residential real estate prices have increased by 10% in three months as market sentiment and transactions improve. Prices were initially cut by 30% to combat decreased demand.
Omaxe Ltd plans to raise property prices and launch four new projects, investing fifteen billion rupees with projected revenues of 23 billion rupees over 30 months.
Mumbai anticipates highest residential demand, while Bangalore leads in office and retail space. Pune shows strong retail growth potential.
Shriram Properties and Career Launcher will open 25 Indus World Schools in townships across Bangalore, Chennai, Kolkata, and Visakhapatnam by 2010.
Ansal Properties to invest twenty billion rupees in affordable housing this fiscal year, marking the final installment of a sixty billion rupees investment for developing nineteen integrated townships.
The government is preparing guidelines for PE funds to participate in the housing sector under the Rajiv Gandhi Awaas Yojana, aiming to create a slum-free India with over 10 lakh houses.
Mumbai developers are focusing on premium residential properties as the market recovers, with high-value transactions ranging from Rs 5 crore to Rs 35 crore.
Mumbai Sees Rapid Residential Price Growth, Tops at Rs 97,842/sqft
India's real estate recovery, driven by residential segment, is surprisingly led by investors, not end-users, with many seeking to book profits this Diwali.
Builders face no penalties for late flat delivery if the contract lacks a specified completion date, a consumer commission ruled.
Building age significantly impacts rental value. Older buildings, especially those over 20 years old, lose market value due to outdated fittings and reduced elegance.
Amrapali Group plans to invest Rs.15,000 crore over five years for various projects, including a new 400-unit housing initiative in Ghaziabad.
Piramal Sunteck Realty acquired two plots in Navi Mumbai for residential and commercial development, with three others sold to different developers.
CREDAI reports growth in residential & commercial real estate sectors, driven by affordable housing & reduced home loan rates, with a 60% increase in March.
Residential real estate sees a rebound, with increased inquiries and transactions in the low to mid-end segment, driven by price corrections and low interest rates.
The Pune Municipal Corporation has announced a 50% reduction in premium charges for small housing units under 50 square meters.
Credai Orissa to reduce housing project prices by 5-10% in 2 months due to falling raw material prices.
Indian real estate companies resist government pressure to lower prices, citing high taxes and low demand. Developers believe reducing interest rates is key to reviving the market.
India's real estate market, with its high rental yields, attracts investments despite limitations. Real Estate Investment Trusts (REITs) could address these issues, providing access to capital and an exit route for developers.
Potential home buyers may find deals in April-May as developers face pressure to sell unsold stock at lower prices due to financial crunch.