The real estate sector in in India is one of the most important element in attribution of country growth. India’s property market has been in a downturn. After nearly four years of a real estate boom, prices have dropped 20-40% since their peak, property sales have fallen over 50% year-on-year (y-o-y), and developers are burdened with many unsold and unfinished projects. As we are coming close to year 2010, house prices have softened, and will likely stay this way – at least until there is an economic turnaround, not expected before 2010.
On the other hand, Technical Group did a study recently on Estimation of Housing Shortage, an estimated shortage of 26.53 million houses during the Eleventh Five Year Plan (2007-12) provides a big investment opportunity. The study is based on the opinions of over 270 international real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.
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