Says Raminder Grover, CEO, Homebay Residential, JLLM: "There is a definite danger in waiting too long for the perfect opportunity.
However, I think it is not going to go up in a hurry either, says Anuj Puri, chairman and country head, JLLM. Developers are optimistic too.
If people want to sell their flats directly to end-customers, JLLM
will guide them through the process.
Shubhranshu Pani, managing director of retail services at global property consultancy firm, Jones Lang Lasalle Meghraj ( JLLM
), said that southern and western states could have major shares in this expansion story.
According to Sanjay Dutt, chief executive officer ( business) at global property consultancy firm Jones Lang Lasalle Meghraj ( JLLM
), prices at the current high levels are unsustainable.
Said Sanjay Dutt, chief executive officer, Jones Lang LaSalle Meghraj ( JLLM
), " These corporations, including Raymond, have strategically located land parcels, which they earlier used to sell to developers.
Even people who have already booked flats will stay on rented till they get the complete possession of their new house," said Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj ( JLLM
), an international property brokerage firm.
Sanjay Dutt, chief executive officer ( business) at Jones Lang Lasalle Meghraj ( JLLM
), a global property consultancy firm, confirmed that the property rates in Worli area in South Mumbai are anywhere between Rs 90,000 to Rs 94,000 per square feet.
Sanjay Dutt, chief executive officer ( CEO) ( business), Jones Lang LaSalle Meghraj ( JLLM), said, " By 2020, India will have joined the global village seamlessly.
Various other independent consultants such as the Royal Institute of Chartered Surveyors ( RICS), DTZ International Property Advisors and JLLM have already recommended corrective measures in this direction.
Ujjwala Rao, AVP, Capital Markets, Jones Lange LaSalle-Meghraj (JLLM), said, "Apart from this, a window of opportunity came from RBI.
But yes, their numbers have gone down significantly." Explained Rao of JLLM, " A primary reason of this is the fact that potential investors have become cautious.