2012-09-08 09:20:59 - Fast Market Research recommends "India Real Estate Report Q4 2012" from Business Monitor International, now available

The India Real Estate report examines the commercial office, retail, industrial and construction segments throughout the country in the context of a cyclical slowdown. With a focus on the principal cities of Mumbai, Hyderabad, Gurgaon, Chennai and Bangalore, the report covers the rental market performance in terms of rates and yields over the past 18 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk

In July 2012, BMI conducted its latest round of interviews with in-country sources on India's commercial real estate sector. The outlook is subdued for 2012 with a mixed bag of results reported for the first half of the year, although our sources do predict very slow growth across

the board from 2013. This outlook supports the current fears over India's major developers' debt levels, rising raw material costs and renewed economic crises in the US and eurozone. In addition, there are areas in the country where retail rents are on a par with those in the US, which has tended to price a number of potential renters out of the market.


Full Report Details at
- www.fastmr.com/prod/456342_india_real_estate_report_q4_2012.aspx


Indeed, sentiment towards India's growth story is ebbing. Not long ago, the mainstream view was that guaranteed growth would be the new norm on the back of the country's demographic dividend, huge infrastructure push and consumer boom potential. The current state of play appears dire. The rupee has sunk to record lows versus the dollar, rating agencies have warned of a sovereign downgrade to junk status, and the political landscape is mired by factional brinkmanship. For our part, we recently acknowledged that the Indian economy would be hard pressed to regain its pre-2008 rate of growth. By contrast, we see sufficient evidence to suggest that India's investment cycle - the key ingredient for sustainable economic growth - has not only stopped deteriorating, but should also start to pick up, albeit gradually, in H212.

Key Points

* The administration of Indian Prime Minister Manmohan Singh has a small window of opportunity to deliver economic reform in the coming months, in a bid to re-energise the country's growth prospects. Success on this front would not only help to ease investor and rating agency concerns, but also bolster the Indian National Congress (INC)-led government's reelection chances in 2014.
* Our core view is that real GDP growth will come in at an improved 7.3% in FY2012/13, up from an estimated 6.8% in the previous fiscal year.
* The major ratings agencies have started to question India's investment grade status, on the back of stumbling economic growth and a weak policy environment. While we had expected the country's sovereign creditworthiness to come under the spotlight in 2012, our view remains that a full ratings downgrade is not on the cards this year.
* The Indian rupee looks set to embark on a steady appreciatory run over the medium term. Current levels are attractive given the currency's depressed valuations and our conviction that macro pressures will subside in the months ahead. With this in mind, we maintain our fundamentally bullish stance.
* Upside long-term growth risks from structural reforms: Should the government successfully embark on reforms - particularly to investment regulations in the retail and insurance sectors - we may see a sustained increase in foreign direct investment, boosting longer-term growth.
* We are maintaining our real growth forecasts for the construction sector at 7.2% in FY2012/13.

Partial Table of Contents:

SWOT Analysis
- India Real Estate/Construction SWOT
- India Political SWOT
- India Economic SWOT
- India Business Environment SWOT
Real Estate Market Overview
Real Estate Market Analysis - Office
- Supply And Demand
- Rents And Yields
- Table: Historic Rents - H112 (INR per m2/month)
- Table: Net Yield, 2011-2013 (%)
- Table: Terms of Rental Contract/Lease - H112
- Industry Forecast Scenario
- Table: Forecast Rents - 2013 (INR per m2/month)
- Table: Forecast Net Yield, 2008-2016 (%)
Real Estate Market Analysis - Retail
- Supply And Demand
- Rents And Yields
- Table: Historic Rents - H112 (INR per m2/month)
- Table: Net Yield, 2011-2013 (%)
- Table: Terms of Rental Contract/Lease - H112
- Industry Forecast Scenario
- Table: Forecast Rents - 2013 (INR per m2/month)
- Table: Forecast Net Yield, 2008-2016 (%)
- Table: India Retail Sales Indicators
Real Estate Market Analysis - Industrial
- Rents And Yields
- Table: Historic Rents - H112 (INR per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms of Rental Contract/Lease - H211
- Industry Forecast Scenario
- Table: Forecast Rents - 2013 (INR per m2/month)
- Table: Forecast Net Yield, 2008-2016 (%)
Forecast Scenarios
- Construction And Infrastructure Outlook
- Table: India Construction And Infrastructure Industry Data, 2008-2017
- Table: India Construction And Infrastructure Industry Long Term Forecasts, 2013-2022
- Table: India FY2012/13 Budget - Central Plan Outlay By Selected Ministries/Departments*
- Macroeconomic Outlook
- Table: India - Economic Activity, 2011-2016
Real Estate Risk Reward Ratings
- Real Estate/Construction Risk/Reward Ratings
- Table: Asia Pacific Real Estate Risk/Reward Ratings
- Business Environment Outlook
- Table: BMI Business And Operation Risk Ratings
- Institutions
- Table: BMI Legal Framework Rating
- Infrastructure
- Table: Labour Force Quality
- Market Orientation
- Table: Asia, Annual FDI Inflows
- Table: Trade And Investment Ratings
- Table: Top Export Destinations
- Operational Risk
Competitive Landscape
Company Profiles
- Ambuja Cements Ltd
- DLF
- Parsvnath Developers Ltd
-

Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=456342&dt=t

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