Slum-free Mumbai: Myth to Realty - Steps envisaged. The CEO, SRA reiterated government focus on slum rehab in Mumbai, with 0.2m houses under construction (vs. 0.15m delivered). He also highlighted plans to amend some laws in favour of private developer participation in North Mumbai rehab.
Commercial Property: Road ahead. Commercial recovery can be faster than estimated, given improving transactions, albeit only in certain markets. IT/ITES will remain the most important space absorber, followed by telecom and financial services sectors. Although recovery will be micro-market specific, Bangalore emerges the best-placed for commercial recovery amongst other metros.
Developers reiterate more focus on execution of projects with continual focus on residential projects as well as reducing debt. Cash-rich companies are acquiring land across city centres and suburbs. Overall, Bangalore is the steadiest market with inventory being delivered and new project launches at lower-than-peak rates.
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