India is expected to account for five percent of the total ultra high net worth individuals (UHNWIs) in the world by 2025, a study said.
Mumbai region offers big opportunity for retailers across sectors like apparel, food and beverages, entertainment and daily needs, a joint report by global property consultancy Knight Frank and Retailers Association of India (RAI) said.
The deepening downturn in India's crucial building sector makes it easily understandable why Prime Minister Narendra Modi's image as the country's economic saviour has lost its lustre just over a year after his resounding election victory.
Residential sales in India's top-six cities have fallen 17 percent in 2014. Normally, this low demand would drag prices down, but Knight Frank says that given a sharp decline in new launches, prices are actually heading higher.
Arun Aggarwal, vice-president - institutional research, Religare Capital Markets says the Delhi government has been trying to open up licenses for private development in the state. This may be a step in that direction, he says.
Das‘ comments come a day after the realty consultant released its bi-annual report that saw a 25 percent decline in H1CY14 demand but expects H2CY14 to be positive.
Economists believe that a status quo on key policy rates will serve as a breather for households and leveraged developers alike.
On how the realty markets in Mumbai, Samantak Das of Knight Frank India, says the city has a very mixed market currently with Navi Mumbai seeing big inventory built up and Dombivli and Kalyan seeing a good jump.
Jaypee Group now under the radar of the trade fair regulator, the competition commission of India or CCI for alleged abuse of dominant position in selling apartments in Noida,
Samantak Das of Knight Frank told CNBC-TV18 that property prices have softened in Mumbai as well as in the Delhi NCR region. But, he is hopeful of seeing some recovery in the commercial property market.