24
April 2015 Kolkata: The residential sector in India has
experienced a major demise in the Q1 of 2015 the lowest ever to about 50%, as
the developers are largely inclined to finishing their existing projects while drifting
from the new launches. While the new launches in the Q1 of 2014 was 55,500
units, the dropping statistics are significant as the new launches this year
has fallen to 24,700 units.
The major reason behind the significant change in
the decision of the developers has resulted in response to the present scenario
of the dropping sales margin in the residential sector below expectations. At
present, the developers are prioritizing their efforts on completing the
existing projects. It is quite likely that they will remain aloof from the new
project launches and raise their decisions as the new regulations take its
effect. The only significant growth in the residential sector project launches
are credited to the large builders rolling out new development plans in some
key cities in India.
The momentous considerable aspect in this context is
the financial jeopardy of the developers as many are mending efforts to explore
possibilities of managing debt settlement with low interest rate options. Their
prime focus is on draw private equity capital as a measure to take control of
the financial liabilities.
Chalking out the possible reasons of the present
scenario, the experts opine that the prime matter of consideration for the
developers is their over allocation into the present projects that poses
hindrance to raising more capital against their construction project
capabilities or land bank.
Impact
of Slashed of New Launches
The significant YoY growth of 26% in the new
launches is limited to the registration of high-end segments in prominent
Indian cities. The effect of the present circumstances will affect the buyers
in the low-income group, as there has been a reduction of over 80% in the new
launch of affordable housing sector units. The most serious impact evident
until date is the postponement of the Mumbai Development Plan 2034, which
expected to result in delaying of the new launches to cause shortage in the
housing stocks.
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Contact
Information:
Contact
Person: Mr. R.P. Agarwalla (Compliance Officer)
Address:
23,
R. N. Mukherjee Road,
4th Floor BNCCI House Kolkata -700 001
West Bengal
Contact No.:
033 40266311, 033 40048778
