a study on realty investment opportunities in major cities and markets of india and us

8/14/2019 A Study on Realty Investment Opportunities in Major Cities and Markets of India and Us

1/74

SAKOE IL DI@SE@S

OMTS IL SAKOET m

DJAXSE[ SMSOE XAGE @I2

1. M@S[ICUDSMI@

1.1 M`s{icudsmi` , Kadng{iu`c il sje X{ikoef 1

1.; Ikbedsm|e il sje tsuc} 3

1.4 Tdixe il sje tsuc} 5

1.3 Omfmsasmi` il sje tsuc} 5

;. [E\MEW IL [EOASEC OMSE[ASU[E

;.1 [e|mew il {eoasec omse{asu{e @u`gafkannaf/ Djesxes/ Xiet

Ga{ce`/ Egfi{e/ Aowa{xes/ S. @aga{) F}oaxi{e m` De`s{ao Dje`àm> a`c A`à

@aga{ m` @i{sj Wets Dje`àm. Tiusj Dje`àm mt a x{mfe {etmce`smao oidasmi` wmsj

a giic atti{sfe`s il axa{sfe`st a`c m`cexe`ce`s jiutet m` x{izmfms} si sje

keadj. De`s{ao Dje`àm x{i|mcet x{izmfms} si sje de`s{ao kutmètt cmts{mds. Sje

@i{sj&wetse{` Dje`àm mt difxa{asm|eo} a {ede`s ce|eoixfe s wmsj a`

atti{sfe`s il ku`gaoiwt a`c axa{sfe`st.

At ezxas{maset a`c F@D ezedusm|et sj{i`g sje dms}/ cefa`c mt tjmlsm`g si

sje de`s{ao xa{s il dms} cue si mst x{izmfms} si faoot/ {etsau{a`st a`c doukt. Eats

diats {iac di`smùet si ke a x{ele{{ec oidasmi` li{ ezxas{maset oiinm`g li{ Keadj

Jiutet ) M`cexe`ce`s Ku`gaoiwt. M` J;&85/ sje cefa`c li{ m`cexe`ce`s jiutet

a`c axa{sfe`st {eadjec a` aoo smfe jmgj wmsj ùfke{ il que{met difm`g m` l{if

ezxas{maset a`c F@D ezedusm|et. Sje tuxxo} wat jiwe|e{ uàkoe si neex xade


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wmsj sje tseex cefa`c jmne a`c a cefa`c tjmls wat ikte{|ec siwa{ct de`s{aoo}

oidasec x{ixe{smet.

M` J1&8


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li{ S @aga{/ wjmdj taw a` m`d{eate il aofits 38% l{if J1. Jiwe|e{ sje {e`saot

m` isje{ a{eat {efam`ec aofits tsakoe.

Daxmsao \aoue *[t ) TL-

Xoade J;&85 J1&8< J;&8


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fmd{i fa{nest. Wjmoe m` a{eat omne Aowa{xes) [A Xu{af/ sje {e`saot wms`ettec a

fattm|e bufx il 38 & 58%.

S[E@C A@AO]TMT LI[ DJE@@AM

Xoade ;88< ;887 ;88: ;88= ;818 ;811 ;81; ;814

@u`gakannaf 4888 4358 4=


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M` Dje`àm xoadet omne S. @aga{/ F}oaxi{e/ Akjm{afaxu{af/ a`c Aca}a{

a{e sje fits ass{adsec xoadet k} sje m`|etsi{t li{ jiutm`g tm`de sje} ja|e giic

x{izmfms} si tdjiiot/ jitxmsaot a`c m`cuts{mao a{eat. Aoti/ etsakomtjfe`s il fi{e

MS Difxa`met/ jmgje{ ecudasmi` m`tsmsusmi`t a`c jitxmsaot ja|e k{iugjs ius

s{efe`ciut ce|eoixfe`sao tdixe si tuku{ka` a{eat tudj at Ioc

Fajakaomxu{af [iac/ wje{e u omne isje{ xoadet m` Dje`àm ja|e giic

a|amoakmoms} il wase{ a`c oa`c a{ea a`c u`xioousec tu{{iu`cm`gt. Dje`àm

wmsèttec a tseex x{mde m`d{eate m` ;885 wmsj a` a|e{age il 18% m`d{eate m`

daxmsao a`c {e`sao |aouet. [etmce`smao oa`c a`c Axa{sfe`s x{mdet ja|e tu{gec

wmsj x{mdet m` sje dms} {a`gm`g l{if [t.4/888 & [t.:/888 XTL a`c a{eat omne Kias

Douk ja|e e|e` jmgje{ x{mdet. Aoti/ sje @[M m`|etsfe`s aoti taw di`tmce{akoe

mfx{i|efe`s m` sje oats 3&5 }ea{t. Axa{sfe`st m` {a`ge keswee` : si ;8 oanjt

we{e m` giic cefa`c a`c fi{e a`c fi{e ce|eoixe{t e`gagec m` sje

di`ts{udsmi` il ouzu{} axa{sfe`s kutm ett cue si jmgje{ cefa`ct l{if sje

{eoidasm`g ezedusm|et a`c isje{ x{ilettmiàot. [etmce`smao xois taoe a`c tseex

m`d{eate m` x{mdet ezxedsec e|e` m` dms} iustnm{st omne Nuoasju{/ Seadje{t Dioi`}/

K{msa`ma @aga{/ a`c \mà}ana Xu{af wje{e x{mdet we{e as sje {ase il [t.


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M` {esamo txade/ sje {e`sao {aset m` Dje`àm {a`get akius [t 58 si [t 55 xe{ tq ls

wjmoe m` Fufkam a`c Ceojm sje {aset a{e akius [t :8 si [t :5 xe{ tq ls.

Wmsj sje jmgj ezxa`tmi` a`c lade&omlsm`g xoa`t sanm`g xoade m` Dje`àm sje

x{mdet a{e tamc si ke {mtm`g lu{sje{. Sje ioc Fajakaomxu{af MS di{{mci{ mt aoti

teem`g a èw lade. Sjmt tmz&oaè jmgjwa} ts{esdjm`g ;8 nft mt jife si fa`}

F@Dt wji a{e tessm`g ux ixe{asmi`t je{e. Sjmt jat {etuosec m` x{ixe{s} x{mdet

tjiism`g ux m` sjmt a{ea. X{mdet il oa`ct m` sje Gum`c} a`c Afkassu{ a{e aoti

tjiism`g ux. A g{iu`c ditst mt a`}wje{e keswee` [t. 38 & 58 oanjt m` Gum`c}.

[etmce smao x{ixe{s} x{mdet ja|e aoti tee` a` uxtwm`g iwm g si m`d{eatec

cefa`c li{ x{efmuf jiutm`g axa{sfe`st at weoo at kucges loast. S}xmdao x{mdet

m` Tjiom`gaàoou{ a{e akius [t ;.5 d{i{et a` ad{e. E|e` sje du{{e`s {etmce`smao

fa{nes jat g{iw` l{if 48% si sjas il 45% m` iè }ea{/ wmsjm` sje dms} tuku{kt.

\eoadje{}/ Figaxxam{/ Giw{mwannaf a`c Ni}afkecu a{e giic xoadet li{

ku}m`g x{ixe{s} at m`|etsfe`st at jife {e`saot ja|e afxomlmec di`tmce{ako}.

;KJN x{mdet tsa{s l{if [t.18 oanjt a`c da` {eadj ux si [t 4; oanjt li{ a ouzu{}

jiute m` sjete a{eat. [e`st il [t. :/888 si [t. 13/888 da` ke ezxedsec li{ a

;KJN axa{sfe`s li{ a fi`sj.

Sje oasets {etmce`smao fa{nes x{mdet m` Dje`àm at i` Fa{&87 a{e omtsec keoiw.

Dje`àm Fa{&87

Oidasmi` [etmce`smao Fm mfuf Fazmfuf1 Ac}a{ 1:88 ;:88

; Aowa{xes ;388 ;=88

4 Keta`s [iac ;;88 ;=88

3 Djesxu{ ) Nmoxaun ;188 ;788

5 N. N @aga{ 1;88 1788


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< Sm{u|a`fm}u{ 1788 ;;88

7 F}oaxi{e ;;88 4888

: @ugakannaf ;888 ;=88

= S. @aga{ 1388 ;388

18 Nicafkannaf 1588 1:88

11 Djafme{t [iac ;;88 4888

1;[abaA`àfaomxu{af

1:88 4858

14 [i}axessaj 1:88 ;358

13 Egfi{e ;388 4888

15 \aoata{a|annaf 1188 1388

1< A`à @aga{ Eats 1358 ;;88

17 Gum`c} 1;88 1788

1: \eoadje{{} :88 1188

1= Tjats{màga{ 1388 ;;88

;8 Atjin @aga{ 1;88 ;;88

;1 Ooi}ct [iac 1588 ;;88

;;[acjan{mtjà`[iac

1588 ;888

;4 Fiu`s [iac ;888 3588

Sje {etmce`smao fa{nes m` Dje`àm jat kee` g{iwm`g tseacmo} m` sje oiwe{

a`c fmccoe tegfe`s. Aosjiugj sje cefa`c li{ sje jmgj&e`c x{ixe{smet mt ìs at


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ts{i`g at oiwe{ tegfe`st/ tsmoo sje ce|eoixe{t ja|e tsa{sec oa{ge&tdaoe x{ibedst

wmsj mfx{i|ec afe`msmet. Wmsj sje ac|e`s il F}{mac tilswa{e difxa`met/ te|e{ao

li{emg` ka`nt , kiifm`g {esamo fa{nes/ daxmsao |aouet a`c {e`saot a{e ezxedsec si

{mte lu{sje{ m` ;887. Aoti wmsj sje {eoazasmi` il Li{emg` Cm{eds M`|etsfe`s *LCM-

ì{ft/ tife goikao lu`ct omne Gi|e{`fe`s M`|etsfe`s Di{xi{asmi` il Tm`gaxi{e

jat m`|etsec m` Dje`àm {etmce`smao fa{nes wjmdj mt gim`g si kiits sje {eao etsase

tdeà{mi m` a kmg wa}.

M`se{x{esasmi`2

Dje`àm mt sje liu{sj jmgjets ea{`m`g dms} wmsj Xe{ Daxmsa M`dife il

[t 3


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S{e`c A`ao}tmt2

GCX mt ezxedsec si m`d{eate k} ;.7 xe{de`s m` ;887/ alse{ {egmtse{m`g

g{iwsj il a` etsmfasec 4.; xe{de`s m` ;88


38/74

Sje axa{sfe s fa{nes mt weoo xitmsmièc si tsage aìsje{ ts{i`g

xe{li{fa`de m` ;887. \ada`d} wmoo di`smùe si cedomè/ aooiwm`g iwè{t si agam`

{amte {e`st a`c dus di`dettmi`t. Sje xade il mfx{i|efe`s wmoo fice{ase l{if

;885 a`c ;88


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A|amoakmoms} il daxmsao jat {efamèc eoe|asec i|e{ sje xats }ea{. A wmce

xiio il fi{sgage x{i|mce{t/ xa{smduoa{o} di`cumst a`c xi{sliomi oe`ce{t/ {efam`

agg{ettm|e m` lmà`dm`g axa{sfe`s s{a`tadsmi`t/ wjmdj mt {etuosm`g m` ass{adsm|e

x{mdm`g li{ ku}e{t. Oia`t il #4 fmoomi` a`c fi{e a{e du{{e`so} kem`g x{mdec as =5katmt xim`st si 118 katmt xim`st aki|e sje 18&}ea{ S{eatu{}/ wmsj ceks&te{|mde

di|e{age *CTD- il 1.15z si 1.;8z. Li{ tfaooe{ oia`t/ sje tx{eact wmce` si a

{a`ge il 115 katmt xim`st si 158 katmt xim`st/ sjiugj sje CTD laoot si 1.18z i{

oett. M` fa{nest wmsj ts{i`g {e`s g{iwsj li{edatst/ ms mt ìs u`diffi` li{ ceaot si

ke ciè as a k{ean e|e` CTD.

Axa{sfe`s m`|etsi{t {efam` jmgjo} ixsmfmtsmd akius sje fa{nest lusu{e/

a`c li{ giic {eati`. Cefa`c&tmce c{m|e{t {efam` lm{fo} m` xoade/ a`c daxmsao

loiwt m`si sje tedsi{ a{e jiocm`g as jmgj oe|eot. Dax {aset tilseèc sefxi{a{mo} m`

fmc&;88< cue si {mtm`g oi`g&se{f {aset a`c a laooill m` di`|e{tmi` taoet/ kus sje

a|e{age jat tm`de cedomèc ficetso}. Fa{nes&wmce/ sje{e mt a g{iwm`g wmoom`gètt

i` sje xa{s il x{m|ase m`|etsi{t si oiin iustmce il sjem{ jife tsase si adjme|e

jmgje{ }meoct. I|e{ sje xats }ea{/ x{m|ase&ius&tsase adsm|ms} addiu`sec li{

axx{izmfaseo} ;8 xe{de`s il sisao ciooa{ |ioufe m` sje #5 fmoomi`&xout tegfe`s il

sje fa{nes/ difxa{ec wmsj oett sja` 18 xe{de`s i|e{ sje x{e|miut 1;&fi`sj

xe{mic. Tsmoo&oiw m`se{ets {aset/ ts{i`g daxmsao loiwt a`c mfx{i|m`g lu`cafe`saot

a{e ezxedsec si {etuos m` {eoasm|eo} tsakoe dax {aset m` ;887. As sjmt xim`s m` sje

d}doe/ m`|etsi{t a{e lidutm`g i` sje xise`smao li{ g{iwsj/ xoadm g fi{e wemgjs i`

sisao {esu{` sja` gim`g&m` dax {aset. I|e{ sje xats lew }ea{t/ sisao {esu{`t ja|e

dife m` weoo aki|e a|e{age/ c{m|e` m` oa{ge xa{s k} x{mde axx{edmasmi`. Wjmoe


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x{mdet gam`t wmoo ke fi{e sefxe{ec m` ;887/ la|i{akoe {e`se{ cefig{axjmdt a`c a

jeaosj} tuxxo}&cefa`c kaoa`de wmoo tuxxi{s ts{i`ge{ {e|e`ue g{iwsj a`c x{mde

axx{edmasmi` m` sje }ea{t ajeac. Dax {aset wmoo uosmfaseo} smdn ux at @IMt {mte

latse{ sja` x{mdet kus a{e `is ezxedsec si {esu{` si oi`g&se{f a|e{aget i|e{ sje

li{eteeakoe lusu{e.

@ew ]i{nAxa{sfe`s

Atnm`g[e`s Difxoesmi`

Fecma`X{mde

\ada`d}[ase

Efxoi}fe`sG{iwsj

*# ) U`ms- *M` U`mst- *# ) U`ms- *M` %- *M` %-;883 ;/;:7 ;/3:1 15;/7:8 4.48% 8.5%;885 ;/4== 4/=75 1


41/74

M`se{x{esasmi`2

GCX mt ezxedsec si m`d{eate k} ;.7 xe{de`s m` ;887/ alse{

{egmtse{m`g g{iwsj il a` etsmfasec 4.; xe{de`s m` ;88


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43/74

Ceojm mt sje daxmsao dms} il M`cma a`c aoti nìw` at sje jea{s il

M`cma. Ceojm mt sje x{mfe oidasmi` li{ x{ixe{smet tm`de fabi{ms} il sje gi|e{`fe`s

a`c x{m|ase kumocm`gt a{e oidasec m` sjmt fag`mlmde`s dms}. [eao etsase Ceojm wat

a`c mt aowa}t i` a jmgj/ a`c loiu{mtjm`g.

Ceojm mt di`tmce{ec at iè il sje xixuoa{ a`c mfxi{sa s siu{mts

cetsmàsmi`t m` M`cma. Akius


44/74

sjmt accmsmi`/ sje G{ace A tsidn m` Ceojm mt etsmfasec si ezdeec 17 fmoomi` tq ls.

Sje{e jat jiwe|e{ kee` ì accmsmi` m` DKC a`c isje{ tuk& fa{nest. Wmsj sjmt

accmsmi`/ }ea{ ;887 taw l{etj tuxxo} accmsmi` il fi{e sja` < fmoomi` tq ls m`si sje

diffe{dmao fa{nes. J1&87 mt ezxedsec si tee tife fi{e tuxxo}/ ius il wjmdj

fi{e sja` :8% wmoo ke di`de`s{asec m` Gu{gai` a`c isje{ tuku{kt. M` Ceojm/ sje

cefa`c li{ diffe{dmao txadet mt i` a jmgj cue si sje ezmtsm`g tuxxo} d{u`dj

a`c aoti kedaute ùfke{ il difxa`met a{e {eoidasm`g l{if {etmce`smao si

diffe{dmao a{eat. MS ) MSET difxa`met a{e sje cefa`c geè{asi{t m` tuku{kt

ja|m`g juge ezxa`tmi` xoa`t/ iwm`g si wjmdj oeatm`g) x{e oeatm`g il oa{ge loii{

xoaset mt sanm`g xoade. M` Ceojm/ sje |ada`d} oe|eot {efamèc at oiw at 4% si 5%.

\ada`d} oe|eot m` Gu{gai` aoti xouffesec wmsj e|e{ m`d{eatm g cefa`c/

jiwe|e{ sje |ada`d} oe|eot m` @IMCA we{e tomgjso} kesse{ {a`gm`g l{if 15% si

;8%.

S{e`c Aào}tmt2

M` Ceojm @D[ {e`saot ja|e giè ux k} ;5%&48% l{if J; il ;885 si e`c

il J1 il ;88


45/74

Ceojm & G{ace A Illmde

8

58

188

158

;88

;58

488

@ej{u Xoade Di `augjs

Xoade

Gu{gia` @imca Batioa Tanes

Oidasmi`

[e`s*[t)TL)Fi ;883

;885

Q1&8

a study on realty investment opportunities in major cities and markets of india and us

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