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Mumbai: Good news for real estate sector in India

Faster approvals of real estate projects may augment sales this year. As per financial forecasts of six brokerages, real estate companies are expected to see about 14% sales appreciation and a 16% hike in net profit by the third quarter of 2013.

 

High prices as well as interest rates are factors, which seem to have prevented buyers invest in the preceding year. A drop in net profit was seen by approximately 12% in net sales and 23.5% in net profit in 2012. However, some relief is likely to come in this industry as the new launches this month seem to have been doing well in Mumbai, National Capital Region and Bangalore.

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