Published on 17/10/2017 5:41:18 PM | Source: Equirus Securities Private Ltd

Real estate sector Update - Equirus Sec

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Real estate sector will bounce back soon: Housing minister

According to the state minister of Ministry of Housing and Urban Affairs, Hardeep Singh Puri announced that the Indian real-estate sector is likely to bounce back soon from its present state of slump. The real estate sector has run into some problems for various reasons, but I have reasons to believe that this sector will soon bounce back. Mr. Puri also announced that the Narendra Modi government had taken several initiatives to give a boost to the housing sector and in particular to affordable housing to meet the housing needs of the people.

 

Maharashtra approves merger of 11 villages, Pune adds 81 sq km

Pune Municipal Corporation (PMC) is officially a much bigger one now with the addition of 80.7 sq km and a population of 2.78 lakh after the state government issued the merger notification to bring 11 fringe villages. The civic body will require Rs 2,000 crore to undertake development of these fringe areas. The government of Maharashtra had accounted its intention to issue a notification with the view to alter the existing limits of PMC.

 

INR 2,000 cr Maharashtra affordable housing body on the cards

The state government will soon set up a INR 2,000 cr Maharashtra Affordable Housing Development Corporation to achieve the target of constructing 20 lakh tenements by 2022 under the Pradhan Mantri Awas Yojna. A senior bureaucrat told that the corporation's key objectives will be to get all organizations involved in providing affordable housing under one umbrella.

 

Office space absorption likely to touch 32 mn sq ft in 2017: Cushman & Wakefield

According to Cushman & Wakefield, office space absorption is set to be stable in 2017 on the back of corporate occupiers' commitments and the year is expected to end with 32 million sq ft take-up across top eight property markets. Net absorption until September has been recorded at around 18 million sq. Ft. led by Bangalore that has registered highest volume of 4.8 million sq ft, while Bangalore continued to register the highest volume of transaction, Hyderabad posted the second highest volume of net absorption at 3.2 million sq ft.

 

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