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Piramal Fund Management has raised a realty fund of Rs 100 crore to focus on residential real estate investments. The fund, raised in 10 days, will focus on residential units of Tier-I cities.
As urbanisation strengthens its foothold in India, the housing shortage problem becomes more prominent. The rural poor flocking to Tier-I cities and Tier-II cities turning home to many MNCs have propelled the floating population in India. Rental housing, and not house purchase, is the only solution to this problem.
Demand for glass is concentrated in the metros and Tier-I and Tier-II cities. ´While metros and Tier-I cities enjoy a healthy market for all kinds of glass, Tier-II cities are witnessing steady growth in demand for float glass including high-performance glass,´ shares Khanna.
The past few months have been a rollercoaster ride for the real-estate sector like never before. Announcements related to the Goods and Services Tax (GST), Real-Estate Regulatory Authority (RERA), unchanged repo rates, implementation of the 7th Pay Commission, renewed focus on infrastructure development, consumer activism in courts and, most recently, demonetisation have triggered short-term uncertainties about the market but will result in long-term gains.
The Goods and Services Tax has been the biggest tax reform in India since independence and has greatly encouraged ease of doing business in the country.
Although leasing activity declined by 13 per cent YoY in Asia Pacific in Q2, volumes were down only 2 per cent in the first-half of the year, indicating stable leasing levels across the region. Cities like Seoul and Taipei saw sluggish tenant demand impacting leasing activity.
The residential real estate market has made a strong comeback in 2018, especially in metros and Tier-I cities. Even corporate leasing has seen a fair share of rise as compared to the previous years.
Year 2018 was a veritable roller-coaster ride for the Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.
