India Real Estate Guide Special discussed the economy dominated the slowdown and its impact on the real estate market. How the country’s slow economic momentum does is upsetting to both the real estate industry and consumers? Runwal Group Director Sandeep Runwal joined the discussion, the Chairman of premium Acres Parminder Singh Sehgal and Cushman & Wakefield executive director Arvind Nandan. Runwal Group Director, says Sandeep Runwal had gained in real estate in 2008-09, when GDP growth from 8.6 to 9 per cent. In the property sector's share of GDP was 10.6 per cent. Government policies have changed in the last three years, and the real estate sector in the GDP share of 5 per cent has been. In particular, the demand for property in Mumbai famous monuments, where 90-95 per cent comes from the residential market, the 2-year slowdown is visible.
Went to a slump in the housing market and are still having difficulty in promoting growth. With falling demand for builders, high debt is too much hassle. Premium Acres Chairman, Parminder Singh Sehgal decisions of the government and the central bank in the real estate sector, which went to debt reduction. Banks stopped lending to the ground, while the builder is a big part of the cost of land for any Real Estate business. Because of this Builders Ugahni capital markets and private equity firms had, which is too expensive and it was too expensive property. Additionally, construction loans are also strict rules. However, real estate is capital intensive sector, in which significant and long-term investment needs. Banks also have lower debt and loans expensive.
This increased the cost of the builder, property, and customers become less expensive. Also, a home loan is too expensive, and the rules are too stringent. Cushman & Wakefield executive director, Arvind Nandan said the need to see the whole event together. There are 3 aspects of the market consumers, suppliers, and Aneblr. Demand for property has declined. Debt is expensive, and people do not have money. Suppliers are involved in trying to overcome its drawbacks. However, policies are much vulnerability. Builders may be a change in the policies and functioning. However, the demand for property is expected to take the time to come back. Modi government has completed 2 years. At 2 years, the government has counted his achievements, but our focus is on the real estate sector, particularly in India Real Estate Guide is. 2 years in the real estate industry where the government came, all have been announced, but we have progressed much. So be confident to discuss these issues and are involved in this particular discussion and CREDAI National President Geetambr Atees Greece CMD and pleasure, Hiranandani Group chairman Niranjan Hiranandani, Director South Asia Arvind Nandan Colliers International Ltd Vice Chairman and glory and MD JC Sharma. Government Housing for All, Smart City,
Real Estate Regulatory Authority, AB Mission for Rijuvesn and Urban Transformation (nectar) and Awgmenteshn Heritage City Development and Planning (the heart), including the launch of new schemes initiated by the government, the big announcement. These plans that cater to the government budget of Rs 48,000 crore for the Smart City, housing project, and Rs 3 lakh crore to Rs 50,000 crore investments announced for nectar. Under the plan, 100 smart city smart city governments are planning to build. Smart City government Danwa 2019 and to complete it in the first 3-phase 100 cities have been selected. CREDAI National President said the government Geetambr pleasure to recognize the difficulties that so many years ago, people who were experiencing. And identify the problems that the government smart cities, including regulatory bill steps on the reported plans of the government and he is good enough. The government also recognized that the construction and real estate sector would have good jobs will increase, manufacturing will grow and will contribute significantly to the GDP. Affordable housing in the budget has tried to bring some incentive. In these 2 years, the government has taken a very positive step.
Government mood in the right direction and will be perfect for the coming 3 years Real Estate. Niranjan Hiranandani, chairman of Hiranandani Group, said Maharashtra Chief Minister Devendra Fadnavis Positive towards the beginning where the big decisions have been. The presidents of the Mumbai Corporation also contributed to this change. Affordable housing in the next 2 years, is likely to change. Dharuhera fast emerging city of Haryana. Delhi NCR region is part of the area with the most important being in the state of Rajasthan is also very close. North India's largest industrial hub of Dharuhera location makes it. Hero MotoCorp, Honda, Maruti, including manufacturing units as well as big business and IMT Manesar corridor KMP is also nearby. Dharuhera Delhi Mumbai Industrial Hub Gateway. From Delhi to Jaipur National Highway passes through the center of Dharuhera -8. The Delhi airport through which only can be reached in less than 1 hour. Due Dharuhera Industrial hub means thousands of jobs.
Thus, in the last few years, the demand for residential projects has increased significantly. As a result, as well as dozens of well-known local builder developer prepared a land bank and its residential sector is today a huge supply. With the affordable segment, are now becoming a luxury project. The Delhi-based Raheja Developers in Delhi NCR is known as a reliable developer. Even today, the country's leading real estate companies include Raheja Group. Navin Raheja, CMD of the company to achieve this feat since Turkey is quite volatile. Navin Raheja, specializes in several skills, which began business in 1978 scooter was failing badly. Land in 1989 and then dabbled in trading today are present in the list of leading realty players. Raheja Developers in NCR but also worked out as the first resort of Nainital built Raheja. Also, a wildlife documentary maker Navin Raheja, together with the government, including Tiger conservation projects is still worked. Raheja Group group housing, malls, and hotels almost every format including project are built. Sector 31 in the company's project, Raheja Atlantis Gurugranm Flatship prepared the best residential project in India won the award. The company delivered the largest project in 2007, Atlantis, was the best Minitij Awrh was delivered preterm. Currently, the company's complete focus is on North India and have prepared the future, given the strong planning Delhi-Jaipur NH-8 is ready in the Raheja Oma Dharuhera. Due to the location of these projects is crucial.
Jaipur, Gurgaon and Delhi to these locations is very centric. This approach is excellent connectivity with Delhi and Jaipur is fantastic. The land area of 10 acres in an oma Elives is entirely different. The low height Sansara Independent flat in the name of G + 3 If the name of the 40-floor high-rise tower AAKASHA. The entire project 1, 2, 3 and 4 BHK can be made, including the penthouse also. Ie, the consolidated AAKASHA Sansara and the home will be built more than 500. At the same time, under government regulations, ie 5% share EWS poor sects are created for the home. Most construction is being done in the budget segment in Dharuhera.