Comments
Private equity investment in real estate has dropped 15 per cent to Rs 3,480 crore in the first three quarters of this year, according to real estate consultant Cushman and Wakefield. The total transactions till date, for the year are 23, marginally lower than the same period last year, it said.
Of the total investment in the first three quarters of 2012, the first quarter saw an inflow of Rs 2,100 crore. The remaining two quarters recorded Rs 1,380 crore.
Sanjay Dutt, Executive Managing Director - South Asia, Cushman and Wakefield, said the fall in the number of deals was mainly because of concerns on the Government policy front, coupled with an uncertain investment environment, valuation and continued focus on exits for some vintage funds.
However, recent policy initiatives and opportunities in key markets such as the NCR, Mumbai, Pune, Bangalore and Chennai, should turn things around in the coming quarter and make up for the shortfall, he felt.
Mumbai continues to be the preferred destination, followed closely by Bangalore and the NCR.
The residential segment saw the maximum investments, with the share of deals increasing by nine per cent in the first three quarters of 2012, over 2011.
Income yielding commercial property also continue to interest and attract investors, he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.