Realty axis

Leading independent global property consultants – Knight Frank India Pvt. Ltd. announced the launch of their database product “eyestate” that is jointly developed by Knight Frank Research and Indicus Analytics, India’s leading economics research firm. The product gives information and analysis of the residential, commercial and retail real estate market across the seven major metropolitan regions namely Mumbai, the National Capital Region, Kolkata, Bengaluru, Hyderabad, Pune and Chennai.

eyestate, a comprehensive database solution of the real estate landscape of major Indian metropolitan regions has proved to be a myth buster. Results show that 28% of the properties under construction within the 7 urban centres cater to households looking for homes within the INR. 3.5 mn. category. This product caters to the needs of approximately 80% of urban households. Contemporary market belief would lead us to assume that all or most of this product would be absorbed as it is within the affordability criteria, but this is not the case. An astonishingly high 44% of these housing units are unsold today.

City % of under construction apartments under INR 3.5 mn. % of unsold under construction apartments under INR 3.5 mn.
Pune 33% 25%
Mumbai 22% 36%
Chennai 40% 43%
NCR 28% 48%
Kolkata 47% 50%
Bangalore 17% 50%
Hyderabad 33% 55%
Total 28% 44%

Source: eyestate – by Knight Frank India & Indicus Analytics.

eyestate will keep a constant eye on all current and upcoming residential, commercial and organised retail properties (mall and anchor level information). All information is acquired through an ongoing survey that will be updated every quarter.

Commenting on the launch Mr. Gulam Zia, National Director – Research & Advisory Services at Knight Frank India says “Today the real estate sector is plagued with incomplete and unreliable information that has left key decision makers helpless and handicapped. Seeing this gap Knight Frank and Indicus Analytics have jointly set about mapping the real estate market diligently and come up with “eyestate”.

Dr. Laveesh Bhandari, Director at Indicus Analytics said “eyestate is revolutionary real estate information software that will prove to be an essential tool for key industry players such as developers, banks, private equity funds, financial institutions and corporate houses.”

Commenting further on their association with Indicus Analytics Mr. Zia said, “Indicus Analytics is known for its thorough in-depth analysis in the economic research space. Economic intelligence coupled with Knight Frank’s real estate expertise makes eyestate a unique and undisputable data product that assures authentic and reliable ground level information.”
About eyestate:
eyestate is an intuitive, user friendly web-based software application that will provide a high level of flexibility to the users. It will provide several analytical cuts with a geographic and price/ type-wise split. Some of the reports generated will be -
� Absorption analysis, performance, rentals and completion analysis.
� It also facilitates an in-depth spatial analysis enabling the user to map properties at multiple geographic levels.
� Pre-loaded tools enable running queries, browsing data, creating graphs, locating properties on a dynamic map and several other features with a single of click of the mouse.

About Knight Frank India:
Knight Frank India was started in 1995 and today has presence across 7 principal metros across the country and has delivered more than 3000 valuation reports and over 1500 consultancy assignments. Knight Frank India provides comprehensive range of real estate related services covering residential, commercial, land, investments, hospitality & leisure, valuation, advisory services, facilities management and project management.

Source- http://www.moneycontrol.com/news/real-estate/around-44-housing-units-under-rs-35mn-unsoldindia_656127.html

Mumbai: Home loans and other loans to individuals and businesses are set to become cheaper with Reserve Bank of India releasing Rs 32,000 crore to banks through a half percentage point cut in the cash reserve ratio (CRR) on Tuesday,a step which is also aimed at driving growth.

The CRR,which is the level of deposits that banks have to mandatorily maintain with RBI,was reduced to 5.5% from 6%.This marks RBIs first reduction in CRR since January 2009 when it had released funds to stimulate demand in the wake of the Lehman Brothers crisis.

Bankers that TOI spoke to said that interest rates are headed down and it was a matter of time before lending rates also dip.Pratip Chaudhuri,chairman of the countrys largest lender State Bank of India said that interest rates will come down on loans to certain sectors where there is good growth and low delinquencies.However,banks might be circumspect about reducing deposit rates since there are many tax-free schemes offering returns ranging from 8.3% to 8.5%.

Sensex crosses 17,000-mark after rate cut,closes 1.46% up

The BSE sensex crossed the 17,000 mark to a 10-week high as RBI cut CRR to infuse liquidity in the system,before easing a little to close at 16,996 up 244 points or 1.46% since Mondays closing.

Rupee strengthens,touches 49 on RBI action,FII inflows

For the first time in over two months,the rupee touched the 49-mark against the dollar in intra-day trade on RBIs CRR action and expectations of higher foreign investment inflows,before settling at 50.07.

-TOI