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Indian Real Estate Market Headed For Revival: Report

 

 

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Mumbai: The Indian real estate market is heading for a steady revival in 2016, with over 70% of investors expecting improvement in sales in the next 12 months, said a research report by property consultant JLL India and Royal Institute of Chartered Surveyors (Rics), an accreditation body.

The report Peering Into 2016: Taking Pulse of Investor Preference says there is a spike in investor interest in the real estate market as around 43% of respondents saying that the number of successful exits will increase this year.

While Mumbai and Bengaluru will continue to be the most preferred destinations for investment, commercial office and mid-segment residential property will be the top two preferred asset classes by investors, the report said

“After relatively muted calendar years 2013 and 2014, private equity (PE) investors significantly increased their bets on the Indian real estate sector in 2015. This report examines the motivations and expectations of PE funds who are now actively ramping up their exposure to this sector,” said Ramesh Nair, chief operating officer, JLL India.

As per the report, a majority of exits over the last 12-18 months has been characterised by refinancing or buyback. A significant number of investors who participated in the survey believe that the refinancing theme is set to continue beyond the next 12 months, it added.

The report said proposed regulatory initiatives such as the relaxation of foreign direct investment rules in real estate and passage of real estate regulatory bill will enhance investment in smaller projects and positively impact sentiment by boosting buyer confidence.

“Today there are several financing options available. Driven by the need to increase returns and a desire to diversify, investors’ interest in international property markets is once again on the rise and India definitely seems to be leading that interest,” said Devina Ghildial, managing director (South Asia) Rics.

According to the report, newer sources of capital from Japan and China are expected to enter the Indian real estate market in 2016 while pure equity investments are likely to make a comeback this year.

For the report, JLL carried out a survey of seasoned investment professionals across a number of issues like market fundamentals, successful exits, distressed deals as well as top three asset classes and top three cities for investment over the next 12-month period.

“Few of the challenges in the market have bottomed out. So definitely the market is reviving but it is going to be a slow one. There is a going to be greater balance between demand and supply. Investor sentiments have improved,” said Venkatesh Gopalkrishnan, President (business development) and chief investment officer, Shapoorji Pallonji Real Estate.

“However, it is a cautious one where investors are now more focussed on good quality and locations.”

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Budget 2016: Impact of FDI in Real Estate Sector and Future Expectations

Real Estate sector has been stagnant and unregulated for years now. Rising prices of property, delayed construction, no clarity on Foreign Direct Investment and REITS, ghost buyers are some of problems crippling the growth of the sector. But with the various ambitious projects announced by the new Modi Government there’s a silver lining. As per recent government data, economic growth reached 7.4% in the second quarter of the current financial year, riding on a spike in manufacturing and a pickup in investment.

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Where it stands?
Globally positioning India as an investment destination and improving India’s diplomatic and trade relation, Narendra Modi’s foreign stints have helped India attract more FDI. From the nations he visited during the financial year 2014-15, India received FDI of USD 19.78 billion. Moreover, FDI in India increased by 27% in 2014-15 to USD 30.93 billion, said Anuj Puri, Chairman and country head at JLL India in his blog.

But a recent FICCI survey of the year 2015 (Impact of FDI reforms in the Indian real estate sector) shows how disoriented the sector still is. Though there has been overall growth in FDI in the sector, FDI in construction development sector has declined over the past few years. The following table shows that.

Developer suicide puts spotlight on Mumbai-Thane realty mess

Developer suicide puts spotlight on Mumbai:-

“Policy paralysis” and political interference are rampant in this metropolitan region for property developers, says the trade in the aftermath of Wednesday’s suicide by the president of the unit of the Maharashtra Chamber of Housing Industry.

Suraj Parmar, who killed himself on Wednesday, was promoter of Cosmos, a Thane-based realty group. In a 15-page suicide note, he has cited being subject to a series of approval delays for his projects and a stuck decision making system for the step he would take.While Mumbai is home to India’s costliest real estate, Thane is the fastest growing housing market in the country.

“Parmar used to fight politicians and officers over corruption. Most of us settle the matter and close it (but) those kind of margins are no more left in to pay politicians and officers,” said the managing director of a Mumbai-based developer. He declined to be identified.Builders, he said are caught between stagnant sales on the one hand, and corruption and delay in approvals on the other.

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The housing market in the Mumbai Metropolitan Region has recorded its worst half-yearly performance since the financial crisis of 2008, with sales weakening even as 200,000 units remain unsold, according to property consultant Knight Frank. New housing project launches fell by 47 per cent in the first half of this year.

“Politicians and officers are exploiting and squeezing developers. It has become difficult to run the business. Most of the developers are under distress and the balance sheets of developers are under stress due to delay in approvals,” said the founder of another large group in Mumbai. This person, too, declined to be identified.

“Like farmer suicides, soon you will hear of developer suicides,” he predicted.

Pranay Vakil, founding chairman of Knight Frank, says there is total confusion in the way the government announces policies. “Development control rules lapsed long ago and a new set of rules are yet to be announced, despite the fact that they are 20-year policies. Developers’ interest metre is ticking and nobody likes uncertainty,” he said.

To illustrate his point, he said if under the old policy a developer paid Rs 5 crore for certain development rights but needs to pay Rs 8 crore under the new one, he is not allowed to set off the Rs 5 crore already paid and must pay the full Rs 8 crore. Parmar faced mounting debt and approval delays for his projects.

GENUINE FACTS ABOUT AVINASH PRABHU

The substance of Skyline Group, esteemed Rs. 100 crore, is Mr. Avinash Prabhu. The forty-two years of age chief began driving the Skyline bunch when he was still twenty-four years of age in 1997. From that point forward, Avinash Prabhu coordinated the gathering into an aggregate situated in Bangalore. He formed the organization’s brand as a standout amongst the most solid manufacturers of houses over the city of Bangalore.

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Mr. Avinash Prabhu is a M. Com from Bangalore University and a B. Com from St. Josephs College of Commerce at Bangalore. He started the bunch’s section into Retail and Commercial advancement other than raising the quantity of current improvements to 1 in Mangalore City and 18 cross the city of Bangalore.

He expanded additionally the quantity of extensions from the past most extreme of twelve to forty. He considered additionally the retrogressive coordination of Skyline from stand-alone tasks to township development. Since 20122, various townships advancement in Mangalore and Bangalore came to advertise.

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Mr. Avinash Prabhu has started and coordinated the operations of Skyline in Mysore, Cochin, Mangalore, and Chennai. Under his initiative, the organization finished various undertakings, for example, Skyline Manor, Skyline Elysee, Skyline Chalet, Skyline Mayflower Hall, Skyline Amogha, Skyline Srusti, and Skyline City Tower Block.

Avinash Prabhu is a finished individual of individuals and a decided fussbudget, pioneer, industrialist. When he entered the organization, Mr. Prabhu was driving International Marketing, Quality Control, Finance and Communication for Skyline Construction. When he conveys each inventive ventures of Skyline, Mr. Avinash Prabhu recognizes the genuine needs of clients.

Beautiful exterior features of Skyline Blueberry Hill

Among the exterior features, there are a visitor parking and a reserved parking with waste disposal. Skyline Blueberry Hill provides electric connection and water connection. It is close to mall/shopping center. Close to school, and close to hospital.

The main doors are stylish teak wood border with melamine polished and molded panel door while the doors of the bedrooms are stylish sandalwood border with molded panel door. The other floors are vitrified tiles while the floor of the master bedroom is a mixture of wooden and vitrified flooring. The floor of the balcony is ceramic tiles while the one of the staircase is a mixture of tandoor granite. Each flat of 3BHK has a backup of 5KW and 1KW. The living room and master bedrooms come with telephone and TV points.

Skyline Blueberry Hill – well constructed project

Skyline Blueberry Hill is a beautifully designed project. If you are thinking of investing in a new apartment then try to consider this option. Here you can find a beautiful location with all other facilities. This project is near to schools, park, hospital. You can easily get conveyance if you are thinking of going anywhere through public transport. Other than this the apartment are constructed with great engineering. They are well furnished and beautifully decorated with all the facilities. You can afford it also because they are cheap and available.

Skyline Champagne Hill

Skyline Champagne Hill is a great project established under the guidance of the director of Skyline Construction Bangalore i.e Avinash Prabhu. This project is constructed with great efforts and a very experienced ans skilled engineering team. They provide great services along with the residential flats. Everyone living here is satisfied and happy with all the facilities such as maintenance, security, availability of services and many other things. The location near the project is beautiful and near to all the amenities of life. There are hospitals, parks, supermarkets, cafes  and many other facilities.