YEAR ENDER: Expectations of real estate industry from 2013

By: Karshni on 05:34

Getamber Anand, MD, ATS Group, Delhi-NCR

“Though some central areas in Mumbai and Delhi have seen some price rationalisation, prices will continue to rise. And there are problems with the sector that need to be rectified. Most important is the issue of land acquisition. “

Anil Sharma, CMD, Amrapali Group, Delhi-NCR

“More lenient approach is needed to tackle the issues in the real estate sector. Government should bring more incentives in the coming year. I see some kind of price rationalisation in 2013, especially in those areas where rates have rocketed.”

Anuj Puri, country head, Jones Lang LaSalle India

“Residential property prices have breached affordability limits in Mumbai. Nevertheless, developers will have to factor in the ground realities of business while debating lowering of prices to catalyse sales in 2013.”

Anshuman Magazine, CMD, CBRE South Asia Pvt. Ltd.

“In coming months one can expect some positive movement in the secondary market space in South Mumbai, stretching to Worli – Bandra belt. The rest of the city should be stable given that there are no project completions slated for 2013.”

“Chennai that has seen some infrastructure initiatives such as the undergoing work on the Metro rail, outer Ring Road, Extension of MRTS, etc. will witness positive outcome for the sector in the coming year. At the existing pricing levels, sales outlook for residential market in 2013 is expected to be stable with a negative bias. However, projects in good locations from quality developers at right pricing will witness good response.”

RK Arora, CMD, Supertech, Delhi-NCR

“The demand has been encouraging in 2012, which has certainly misled the industry which seems to have ended up in bulk of unsold inventories. Luxury segment has received good response this year, which is expected to keep enticing consumers for luxurious living in the coming time. However, in coming year, it will be interesting to see how we adapt to the changing demands and overall scenario of the industry and further build India at par with global standards.”

Ravi Saund, COO, CHD Developers Ltd, Delhi-NCR

The domestic real estate will continue to jostle with swelling cost of construction, rampant shortage of skilled workforce at all levels, lack of availability of serviced urban lands, absence of single window approval system and slow pace of growth in infrastructure. For all those who were hoping for 2013 as a brighter year for Indian office market, the year will not give them any reason to cheer. Demand will take a further dip and the vacancies will go up. It is very unlikely that rents will tumble down further.

Source: MagicBricks.com

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