Investing in realty is a safer option than buying a share
As BSF Sensex danced furiously, many questions were raised as to what are the safe and less volatile options for investments. Questions were also asked whether the real estate market, which has witnessed potential jump in past couple of years, would undergo some kind of correction.
Some of the large-cap real estate stocks such as Mahindra Gesco and Ansal Properties fell by almost 50 percent from their peak levels. Other stocks like Unitech and Lok Housing did not fall much since they hit the filter on 5 percent movement.
Some industry players feel that there are pocket of tier 2 and tier 3 cities in north India, which have seen massive escalation of price over the last six to twelve months, which may not be sustainable in the long run. Whether the stock market meltdown triggers a correction in these markets remains to be seen.
On the whole, rising real estate prices may take a breather in certain areas but there will be no holding them back.
Consultancy firm Cushman&Wakefield study says Urban India alone requires 12 million housing units with scope for 400 townships in 5 years...
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