The economic slowdown had many victims, the worst of which was the real estate industry. But now it looks like prospects are looking up for this sector of the economy. DLF was synonymous with all the problems that the real estate sector was witnessing till some months ago. Now, with the government stimulus and banks continuing to cut rates and the expansion into non-core sectors being called off, things are looking up.
Rajeev Talwar, Group ED of DLF, said, “I’m sure people are looking forward to buying houses and the environment is improving. You have just heard HDFC saying that they are lowering rates. The government has done its bit by giving stimulus packages, so I’m sure the residential market is looking up. As long as employment figures are stable we see demand going up.” DLF has in the last few months launched several housing projects in Delhi, Hyderabad, Bangalore and other cities. To cater to the mass demand, the projects have been priced aggressively. The environment for real estate is also turning around with interest rate cuts and that is helping in improving the demand. DLF has also sold off some non-core businesses and is looking to sell more.
However, there is no timeline that has been set for selling the hotel and other businesses. But by cutting down debt and interest payments, India’s largest real estate company is hoping to hit the sweet spot for demand in the market.
Ref:http://www.indianrealtynews.com/real-estate-india/dlf-on-recovery-path.html
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