Irrespective of the hits that the varmint simian creature took, you loved the special effects, didn’t you? There was something, how do we put, lovable about the fiendish imp, wasn’t there? Snap back! We accept that the sector has seen special effects of quite some sorts this year. According to Assocham, the sector is expected to become a $60 billion piping hot commodity by 2010. If that didn’t leave your mouth wide open, the estimation of $180 billion by 2020 (PHDCCI) will unquestionably do so. The IT sector alone will entail more than 150 million square feet (2010) in the commercial realty domain. In the residential domain, current shortage of 20 million homes will further keep realtors’ dimples alive.
The icing on the cake, the estimated growth rate of 35% of the retail sector will work as firecrackers in the realty fiesta. B. P.
Dhaka of Parsvnath Developers Ltd., quips, “The real estate sector is maturing day by day and in times to come the sector is going to be a more transparent and a stable one.” Haven’t we heard that one before? But seriously, when we drove through the roads around newly constructed buildings and residential locations in New Delhi, Mumbai, Pune, Bangalore, Chennai and Hyderabad, we nowhere near slowing down, spawning overnight billionaires. Believe this or not – four out of the seven new entrants in the illustrious Forbes Billionaire List, 2006, were from the sector (K. P. Singh of DLF, Ramesh Chandra of Unitech, Pradeep Jain of Parsvnath, Vikas Oberoi of V. O. Constructions).
Worryingly, this misleading ‘billionaire’ advertisement is adding to hordes of ostensible ‘entrepreneurs’ and investment firms ready to rock the realty cradle by a technique now known as ‘carpet investment bombing’. Nearly two dozens of USbased funds are raising more than $3 billion to grab a pie of the immense opportunities. The list of thespians includes heavyweights – Blackstone Group ($1 billion), Goldman Sachs ($1 billion), Citigroup Property Investors ($125 million), Morgan Stanley ($70 million) et al. Even developers are finding it hard to keep themselves out of this golden bird. In all, more than $20 billion is expected to pour in the sector from foreign lands. Dubai’s Nakheel Group signed a $10 billion deal with DLF for Tier l & ll cities, apart from many more such deals. Shravan Gupta, Executive Vice Chairman & MD, Emaar MGF Land Pvt. Ltd., reveals to B&E, “Emaar MGF has committed a capital outlay of $12 billion in a phased manner over the next four-five years.”
The icing on the cake, the estimated growth rate of 35% of the retail sector will work as firecrackers in the realty fiesta. B. P.
Dhaka of Parsvnath Developers Ltd., quips, “The real estate sector is maturing day by day and in times to come the sector is going to be a more transparent and a stable one.” Haven’t we heard that one before? But seriously, when we drove through the roads around newly constructed buildings and residential locations in New Delhi, Mumbai, Pune, Bangalore, Chennai and Hyderabad, we nowhere near slowing down, spawning overnight billionaires. Believe this or not – four out of the seven new entrants in the illustrious Forbes Billionaire List, 2006, were from the sector (K. P. Singh of DLF, Ramesh Chandra of Unitech, Pradeep Jain of Parsvnath, Vikas Oberoi of V. O. Constructions).Worryingly, this misleading ‘billionaire’ advertisement is adding to hordes of ostensible ‘entrepreneurs’ and investment firms ready to rock the realty cradle by a technique now known as ‘carpet investment bombing’. Nearly two dozens of USbased funds are raising more than $3 billion to grab a pie of the immense opportunities. The list of thespians includes heavyweights – Blackstone Group ($1 billion), Goldman Sachs ($1 billion), Citigroup Property Investors ($125 million), Morgan Stanley ($70 million) et al. Even developers are finding it hard to keep themselves out of this golden bird. In all, more than $20 billion is expected to pour in the sector from foreign lands. Dubai’s Nakheel Group signed a $10 billion deal with DLF for Tier l & ll cities, apart from many more such deals. Shravan Gupta, Executive Vice Chairman & MD, Emaar MGF Land Pvt. Ltd., reveals to B&E, “Emaar MGF has committed a capital outlay of $12 billion in a phased manner over the next four-five years.”
For Complete IIPM Article, Click here
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
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See HERE
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