According to an article by Bundeep Singh Rangar, Chairman, IndusView, in FDI Magazine, retail will also be a key driver, with over 200 malls expected to be set up by 2008, 
which means 20 million sq. metres of retail space in India. Demand for commercial space will approach 112 million sq. metres by 2012- 13. Interestingly, even in the residential segment in urban India, the housing shortage is expected to touch 22 million units by year 2008.
Try saying that to a retail investor like Ram Chander Aggarwal, Chairman & Managing Director of Vishal Megamart, who assiduously argues against the real estate sector’s growth to us, saying out of 52 total Megamarts across India, he has only 4 in New Delhi and doesn’t plan even one more (not even in some other top line metros) because of the unbelievably high realty prices. That is a thought mirrored point by point by almost all other retail giants we talked to.
Then what happens to the huge amount of development being undertaken by property investors?
Almost none of them is ready to even accept our take on the dastardly falling stock prices. The share prices of all realty majors have gone for a beating and are down to as much as 55% of their values over the last six months (see Finance National story); and this at a time when the Sensex has grown by historical benchmarks and is now fighting just 200 points shy of the 16,000 mark.
For Complete IIPM Article, Click here
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
which means 20 million sq. metres of retail space in India. Demand for commercial space will approach 112 million sq. metres by 2012- 13. Interestingly, even in the residential segment in urban India, the housing shortage is expected to touch 22 million units by year 2008.Try saying that to a retail investor like Ram Chander Aggarwal, Chairman & Managing Director of Vishal Megamart, who assiduously argues against the real estate sector’s growth to us, saying out of 52 total Megamarts across India, he has only 4 in New Delhi and doesn’t plan even one more (not even in some other top line metros) because of the unbelievably high realty prices. That is a thought mirrored point by point by almost all other retail giants we talked to.
Then what happens to the huge amount of development being undertaken by property investors?Almost none of them is ready to even accept our take on the dastardly falling stock prices. The share prices of all realty majors have gone for a beating and are down to as much as 55% of their values over the last six months (see Finance National story); and this at a time when the Sensex has grown by historical benchmarks and is now fighting just 200 points shy of the 16,000 mark.
For Complete IIPM Article, Click here
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
