Real Estate Monitor is out for the month of November, 2014. Get the market highlights of the top eight cities of India.
With BJP controlling the Centre and the two biggest real estate markets in India – Mumbai and Gurgaon – the government has to focus on 3 I’s – Infrastructure, Interest reduction and Income generation. With the BJP’s remarkable show in Maharashtra, the state will give a new lease of life to its infrastructure projects across all sectors. The projects which are being monitored by the central government will get accelerated with the BJP government’s assumption of political power in Maharashtra.
On analyzing the unfolding luxury homes story in India, it becomes evident that addresses and pin codes have played an important role in defining luxury in the traditional sense. This continues to be relevant even in the current times, with only a few exceptions to the rule in the country’s key cities. Despite the multiple innovations, design upgradation and enhanced specifications and amenities visible in the latest crop of luxury offerings, the premium placed on signature locations still stands high.
Pune is no longer the small city whose only claim to fame was its proximity to the country’s financial capital, whose real estate market survived on rural demand emerging from the hinterlands of Maharashtra. Today, the perfect blend of its manufacturing and services sectors make Pune a standalone economic powerhouse in all respects, with a rate of job generation that is hard to match. At rapidly increasing pace, the city’s internationally reputed educational institutes attract young talent from all corners of India, providing Pune with a natural feeder of talent to its growing industries.
“The Indian manufacturing sector has steady growth in the past, even in the most worrisome periods of the global economic slowdown. The new government has now identified infrastructure development as a high-priority point on its agenda, and this opens up the growth opportunities for a wide range of manufacturing industries as well as in other sectors. The entry of foreign manufacturing companies with technology-based orientation is helping India create a core and contemporary manufacturing sector, fed by ancillary manufacturers that rely on simple technical skills.”