The real estate industry in India might
have been a topsy-turvy ride this past year but the situation might be
beatter in near future, experts say. Though Indian cities slipped
further in the regional rankings in the top 25 real estate destinations
of the Asia Pacific region, this year, but did perform fairly well with a
new addition to their credit. Delhi has maintained its ranking at 21st
position, while the new-entrant Chennai stands at the 22nd. Metropolitan
cities — Mumbai and Bangalore slipped to the 23rd and 20th positions
respectively in this list, published jointly by the Urban Land Institute
and PricewaterhouseCoopers.
In 2013, Mumbai and Bangalore were placed
at 20th and 19th position respectively. These ratings were attributed to
the ongoing economic crisis, uncertanity in the currency outlook and an
unfriendly investment environment.
With
national elections just around the corner and reports suggesting that
the situation is brighter in terms of foreign investment, many foreign
funds are waiting on the sidelines to see what happens, the report
states.
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