Indian home buyers are left with a small window of opportunity – the next six months, when home prices should witness marginal appreciation. After six months, a second wave of high appreciation is predicted. Are you geared for it?
Real estate developmental density in Mumbai has not kept pace with the growth in population density. Due to the huge pressure on the city’s already scarce land resources, market forces have tended to circumvent the base FSI regulations and build more through ‘discretionary approvals’ in lieu of construction of civic amenities such as parking structures.
A confluence of global events, high deficits and stagnation in the residential sector might lead to a difficult 2012 for the real estate industry in India.
Land and natural resources – their ownership, use, acquisition and availability – form the core of public discontent and corrupt practices in India, especially for its poor landowners.
The residential property prices are exorbitant at Mumbai’s prime locations. 180 units sold in Mumbai from January to March 2011 were priced above an average capital value of Rs 20,000/sq ft. No wonder that the market is slowing down perceptibly now. Around 3,350 units priced at Rs. 20,000/sq ft and above remained unsold by the end of March 2011 in the city.