Singh also noted that the sector is witnessing a consolidation in demand towards credible and organised real estate developers.
Realty giant DLF is making its sales pitch ahead of its institutional placement programme or IPP. The company is hoping to raise nearly USD 500 million from the 8 crore shares it will put up for sale. In its first analyst meet in five years the low profile vice-chairman Rajiv Singh unveiled DLFs future plans.
Poor macro economic environment has taken a toll on the realty sector with volumes staying really low. Despite this, Rajiv Singh, vice chairman, DLF doesn't see realty prices coming down.
The government faces fire over its decision to liberalize the retail sector, but finally kicked off the second generation reforms yesterday with a green signal to 51% FDI in multi brand retail and 100% FDI in single brand retail.