The real estate sector is witnessing a complete landscape change and this trend is likely to continue in 2008. In the commercial office segment, in spite of the huge demand, the developers may have to face heat from the ups and down of other sectors.
Also, with the introduction of the SEZ policy, it is believed that a significant amount of the office space demand will be targeted in SEZs. The most deterring challenge that would come on the way would be the product differentiation and correct understanding of the consumer needs, especially in the residential segment.
Another segment that would gain momentum is the hospitality sector. According to the Union Ministry of Tourism, there are an estimated 1.2 million hotel rooms in the country, of which star hotels account for a mere 7% (approximately 80,000 rooms). The hike in interest rate is likely to marginally take off some credit from the sector but this is secondary, as the rising demand will outgrow the hike in the interest rates.
Source: The Financial Express , Pradeep Jain<< BackTop
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