Outstanding
investments attracted by India’s real estate sector have plummeted from over
Rs, 15.39 lakh crore as of September 2012 to about Rs 14.51 lakh crore as of
September 2013 thereby registering significant drop of nearly 6%, revealed a
recent report by industry body ASSOCHAM.
“The real estate
sector suffered grave turbulence in 2013 due to plethora of reasons like
rampant economic slowdown both globally and domestically, liquidity crunch,
unstable currency, high input costs, labour shortage, high interest rates and
growing inflation,” according to a comprehensive analysis titled ‘Real Estate
Sector: Outlook for 2014’ conducted by The Associated Chambers of Commerce and
Industry of India (ASSOCHAM).
Interestingly,
investments in real estate sector had increased marginally by about two per
cent from about Rs 15.1 lakh crore as of September 2011 to Rs 15.3 lakh crore
as of September 2012, highlighted the ASSOCHAM analysis.
Nearly 68% of the total investments in realty sector
as of September 2013 were under implementation while about 69 per cent of real
estate investments were under implementation in the previous year.
Maharashtra
accounts for about 20% share of these investments followed by Gujarat (13%),
Haryana (11.2%), Karnataka (11.1%), Uttar Pradesh (9.8%) and Andhra Pradesh
(9.6%).
The states of
Jharkhand, Haryana, Gujarat, Madhya Pradesh and Andhra Pradesh are top five
states that have seen significant decline in investment inflows in realty
sector during the year long period between September 2012 and September 2013.
While Bihar, Jammu
and Kashmir, Assam, Orissa and Uttar Pradesh have recorded a surge in
investments attracted by realty sector.
With a view to
ascertain as to what 2014 holds for the sector, the ASSOCHAM had interacted
with about 1,000 developers, real estate brokers and agents, property
consultants and senior officials of various companies in the real estate domain
during the course of past one month in 10 prominent cities of Ahmedabad,
Bangalore, Bhopal, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Lucknow and Mumbai.
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