Real estate has entered phase of maturity: Sanjay Dutt
Manu Kaushik July 15, 2013The future of the real estate sector in India is tremendous in the next few years. The top eight cities alone have a total pipeline of 70 million square feet for Grade A office space offering large opportunities in the services of project management, facilities management along with our core broking expertise.
From the financial market side, the total private equity totals approximately Rs 1,100 crore in Q1 2013 maintaining its previous quarter levels. The current esti-mated debt to the real estate and development sector is worth over $24 billion. This is expected to rise over the next few years. With more and more public sector financial institutions being com-mercialised, there is an increase in willingness to provide funding to large infrastructure and real estate projects at reasonable rate of return.
Also large infrastructure proj-ects like the Delhi Mumbai indus-trial corridor along with the west-ern and eastern freight corridor have the potential to create new cities and economic centres in the years to come providing immense growth prospects in the years to come. We believe that by maintaining integrity along with innovation, we will be able to help our clients maximise profits.
These clearly indicate that the real estate market can look at a long sustainable growth in the years to come. We may, however, take cognisance of the fact that the real estate market is defi-nitely entering into a new phase of maturity and order which will throw open more options for professional services in the realm.
Sanjay Dutt is Executive MD, South Asia, Cushman & Wakefield
(As told to Business Today)