Increasing interest of investors has led to an upsurge in real estate activity in Nagpur. Areas close to MIHAN project have a strong investor interest and prices have gone up by 250-300 per cent in the area over the last 18 to 24 months. The demand for residential properties has led to a rise in property prices, says the latest Ernst & Young survey "Indian Real Estate: Growth and New Destinations"
With property prices overheating in the top eight 'A' grade realty markets (Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Pune and Ahmedabad), 11 tier two cities, categorised as 'B' cities, have caught the attention of investors as future growth areas.
These emerging cities are: Surat, Chandigarh, Nagpur, Vishakhapatnam, Vadodara and Jaipur. Close on the heels are Thiruvananthapuram, Kochi, Nashik, Indore and Ludhiana.
Saturday, October 6, 2007
Nagpur, known as the city of Oranges has emerged as the next most preferred location for IT/IteS companies in Maharashtra after Mumbai and Pune
Saturday, September 29, 2007
Indian property developers may raise $4.7 billion selling shares this fiscal year, more than the amount raised in the past 2 years: Ernst & Young
India may have a shortage of 45 million homes by 2012, according to the Ernst & Young study, which cited National Housing Bank estimates.
Indian developers need more funds to build more houses :
Ernst & Young study :
DLF Ltd., biggest Indian real estate developer, raised $2.2 billion in June.6 others, including Housing Development & Infrastructure Ltd. and Omaxe Ltd., raised $1.5 billion in this year.
Indians are spending more of their rising incomes on houses.
Indian economy is growing at an average of 8.6 percent for the past 4 years.
Construction of houses accounts for 80 percent of the real estate industry.
Ganesh Raj, a senior partner, Ernst & Young :
``There has been an increased focus from the developer side on strategic alliances, creation of land banks, geographic expansion and raising capital to fund their extensive development pipeline,''Moody's Investors Service :
India's real estate sector is forecast to grow to $90 billion by 2015 from $12 billion in 2005.Tuesday, September 18, 2007
11 tier II Indian cities, such as Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam and Jaipur, are emerging as growth and investment centers: survey
The highlights of "The FICCI-Ernst and Young Indian Real Estate Report, 2007: Growth and New Destinations" were released today.
The realty sector in India is growing by more than 30 per cent per annum. This order of growth is shifting the focus of investors and developers to relatively smaller cities. There is a likelihood of such emerging cities leading the transformation of the real estate sector, the study says.
The report, will be released on September 27 at FICCI's International Real Estate summit in Mumbai.
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real estate realty Indian real estate Indian real estate news economic development economic growth investment investing investment opportunities development growth expansion Surat real estate Chandigarh real estate Nagpur real estate Vadodara real estate Visakhapatnam real estate Jaipur real estateCompared to other Asian markets like China, Vietnam, Malaysia, Indonesia, Thailand; "India is an excellent investment destination": FICCI-E&Y survey
'The FICCI-Ernst and Young Indian Real Estate Report, 2007' also carries a survey of leading investors.
The survey revealed that all the respondents believe that more than $5 billion would be deployed into Indian real estate over the next 3 years.
Around 20 per cent believe that the deployment would be more than $20 billion.
$20 billion is OK! It should be that much because according to Mr. Lalit Kumar Jain, president, Promoters and Builders’ Association of Pune, "Pune can absorb up to $2-3 billion in Foreign Direct Investment annually"!
Almost 80 per cent of the respondents believe that in short to mid term, India as an investment destination is 'excellent' or 'very good' compared to other Asian markets like China, Vietnam, Malaysia, Indonesia and Thailand.
According to survey, more than 50 per cent of respondents believe that high trajectory growth would continue for next 2-3 years.
real estate realty Indian real estate Indian real estate news economic development economic growth investment investing investment opportunities development growth expansion
Pune is "A" city! The FICCI-Ernst and Young Indian Real Estate Report, 2007: says, stop calling tier I, II and II cities. Start calling A, A+,
Delhi and Mumbai "A++"
Bangalore, Chennai, Hyderabad, Kolkatta are "A+"
Pune and Ahmedabad "A"
Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam and Jaipur "B++"
The ratings are based on five critical indices, city prosperity, urban governance, business environment, quality of life and infrastructure, encompassing 55 parameters.
Ernst and Young Partner and National Leader (Real Estate Practice) Ganesh Raj said: "An attempt has been made to rank the cities based on scientific methodology and statistical tools. The term tier I, II and II cities are loosely used".
The assessment of potential in different cities across India would assist the government, industry, developers and investors to systematically plan the inflow of investments and the development of cities, he added.
The report, which will be released on September 27 at FICCI's International Real Estate summit to be held in Mumbai.