Real estate sector may see upswing after polls
Huge demand for commercial property, says realty assets manager
Apr 14, 2014
Source : The Hindu


DELHI: US-based Brahma Management, an FDI asset management firm focused on domestic real estate, said it expected commercial realty prices to rise 20-25 per cent after elections.

The company, which has invested about ?2,500 crore in three upcoming projects, said foreign investors were awaiting policy clarity and stability in the emerging markets.

“We expect stability post-elections and an upswing in the real estate market. There is a lot of money to be pumped in the market, both from foreign investors and domestic sources. We are bullish on the sector,” said Gulbir Singh Madan, Chairman, Brahma Management.

He said there was huge pent-up demand for commercial sectors , particularly for Grade A commercial property.

Level-playing field

“In the next six-eight months, a lot of foreign direct investment is expected to flow in, which will enhance the commercial and retail aspect of the business. The residential segment is still not that weak. It’s just that the velocity of transactions has reduced,” he noted.

Brahma is developing a retail and commercial office lifestyle centre, Athena, on prime 12.206 acres in Gurgaon, Haryana.

Madan said the next phase of investment could happen in the real estate sector if foreign policies were tweaked for investors. “What investors are seeking is transparency and a level-playing field,” he said.

In 2010, the company had won the auction for a 12-acre land for ?620 crore, outbidding the Bharti Group and Unitech. “We will be investing an additional ?400-500 crore on construction,” he said.

Madan said the company was also developing two townships in Delhi and Panchkula, in Haryana.

In 2010, it had bought 152 acres in Gurgaon for ?600 crore.

The five million sq ft township project is coming up off the Golf Course Extension Road.

The company also has a partnership with DLF for a large integrated township at Panchkula in Haryana.

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