YEAR ENDER: Expectations of real estate industry from 2013 ...

Dec 28, 2012, 03:12PM IST

Most industry experts have indicated that problems such as rising cost of input materials, and labour, and high interest rates will further put the industry under stress. This coupled with huge genuine demand will further push property prices in the coming year

Part II

Manju Yagnik, chairperson, Nahar Group, Mumbai

?Industry recognition, easy and quick availability of finance, single window clearances are some key factors which can go a long way in reshaping the real estate market in the coming year.?

Rohit Gera, managing director, Gera Developments Pvt. Ltd, Pune

I believe that real estate in 2013 on the whole will continue to see prices moving up in real estate sector, especially in Pune. There are a number of reasons for this ? The Maharashtra Housing Act will cause an event based price spike. In addition, the economy is showing signs of bottoming out and as such, reduced interest rates and economic numbers rising bode well for the industry. Inflation especially in wages for the construction workers continues to rise as do other costs. If anything, developer margins may see some pressure; however, I do not believe that prices would come down.

Shveta Jain, executive director-residential services, Cushman and Wakefield

Demand in Pune is mainly driven by end users. There has also been an increase in the demand from both domestic and international investors, thereby increasing their share in the total demand. In 2013, residential catchments in proximity to commercial hubs are likely to witness capital appreciation owing to demand for these locations. Locations such as Kharadi and Wagholi are likely to see capital appreciation, especially in mid-end segment, due to its closer proximity to the city, whereas, locations such as Baner, Wakad, Mahalunge and Balewadi are likely to witness capital appreciation on account of rapid infrastructure development by PCMC.

Suresh Jain, managing director, Vijayshanti Group, Chennai

In the coming year there is going to be a rise in the prices. Prices are going to shoot up because of decrease in the availability of land within the city. With foreign investments coming in, Chennai is going to become a hub for a lot of sectors some of them being automobile, industrial and IT. There by increasing the demand for properties and residences. The other reason for a price hike will be the construction cost. Year 2012 saw a constant fluctuation in the prices of the raw materials required for construction. This behaviour is predicted even for 2013.

Nitin Bichala, managing director, Brook Realtors Pvt. Ltd, Hyderabad

?Hyderabad currently has the lowest property rates as opposed to any other metro in India. With the increase in prices in some of the major locations, the realty market reflects a great future ahead.?

Omar Sherrif, Director, Skylark Mansions Pvt Ltd, Bangalore

?Year 2013 would witness a price hike across the city. North Bangalore in particular would do well. It is the right time to pick up land parcels in the northern parts of the city die to easy availability of land. Further there is a growing demand for smaller units particularly from those looking to buy their first homes. Thus this segment might pick up in the coming year.?

Pradeep Sureka, MD, Sureka Group, Kolkata

?Due to demand outshining the supply, real estate prices witnessed a rise by about 15- 20 per cent in 2012. The market might remain stable and see a slight rise (8-10 per cent) in prices in the year to come.?

Sushil Mohta, MD, Merlin Group, Kolkata

The land prices have seen some appreciation in this year while the movement in finished spaces has been slow in the city. With construction and labor costs going up, the prices of housing units has increased in this year. The same is expected to happen in the coming year. We expect the prices to go up by 10-15 per cent in 2013.

Source: MagicBricks.com Bureau

Source: http://content.magicbricks.com/year-ender-expectations-of-real-estate-industry-from-2013-2/

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