India: Housing demand falls across cities: Real Estate, Terrorist Attacks, Mumbai, Goldman Sachs, Tight Credit, Unitech Plans, Vascon

Residential real estate prices are expected to align with market trends by March 2009. Some deals are expected to happen then. As of now, there is no change in buyer sentiment. According to ASSOCHAM, housing demand has fallen by 35% in smaller cities. Developers are delaying or canceling residential and commercial projects. Unitech has decided to sell some of its assets to tide over the crisis. 2009 may see consolidation in the real estate market.

-Chillibreeze Business Research Team

General Information / Trends
Buyers Hesitant to Take the Plunge
Terrorist Attacks to Dampen Market in South Mumbai Further
Industry Chamber Estimates that Housing Demand Falls by 35% in Smaller Cities
Goldman Sachs Predicts Price Correction
Real Estate Market in Bhopal Stagnant
Tight Credit, Small Bonuses Hurt Real Estate

Retail Real Estate
SRS Group Enters Gujarat

Government Policy
Social Infrastructure Norms for SEZs Eased

Corporate Plans
Unitech Plans Sale of Assets to Raise Funds
Falcon to invest Rs300 cr towards group housing project
Lodha group to invest Rs 900 cr in ‘Sky Villas’
Vascon to invest Rs 165 crore for realty projects

SEZ News
MTAR Tech to Invest in Aero SEZ
Andhra Pradesh Government to set up Logistics SEZ