A FICCI survey has
found that maximum demand is for apartments in the Rs 5-15 lakh
price bracket and most developers are looking to tap this segment. The
survey "IndianReal Estate: current Scenario" reveals that nearly 34 per cent of the
demand in the residential segment is in the Rs
5-15 lakh price bracket, about 26 per cent in
the Rs 15-25 lakh price range, and 22 per centfor homes with Rs 25-40 lakh price tag.
The report also
found 12 per cent of the demand to
be in the Rs 35-50 lakh price bracket; with demand narrowing to just 6 percent in the case of
properties priced above Rs 50 lakh.
Affordable housing has been the latest buzzword amongrealtors, and
the last few months have seen most developers realining their
focus to tap demand in this segment Unitech has launched
its new home brand "Uni Home" for affordable housing
projects where the units will be priced at
Rs 10-30 lakh, while others like Tata Housing, Ansal, API,
and Puravankara Projects (through its subsidiary Provident Housing) too have
jumped onto the affordable housing segment.
In fact, the
growing demand in the affordable housing segment has been well-documented in various reports that
have been released in recent
past. For instance, real estate consultant Knight Frank projected a whopping market size of over Rs
3,00,000 crore by 2011 for the low-cost housing or
affordable housing segment. According to it, a
sizable opportunity for this sector is expected to arise from housing
requirement of over two million units by 2011.most critical
issue facing the real estate sector. "Multiple
State laws hinder and delay the execution of projects," the
FICCI study said, adding that other issue were
absence of single-window clearance, unclear land titles, and unavailability
of cheap land for low-cost mass housing projects. It was
felt that grant of infrastructure status to real estate (including housing, townships and commercial buildings) would enable easy
access of funds from banks. They also favored
PPP (public-private partner-ship) in low-income housing to
support projects in the affordable segment. Other
recommendations are abolition of service tax on
renting immovable property, and streamlining and increased harmonization of registration
and stamp duty rates across States. The need for a
real estate regulator, which would act as
a nodal agency for all real estate developments and
address concerns of consumers and the industry, was also
felt. The survey stressed on the need to help in better implementation
of infrastructure and industrial projects and to safeguard the
interest of farmers through clear guidelines on acquisition of land and compensation package.
No comments:
Post a Comment