Has Dubais debt problems impacted Indian real estate sector?
Dubai’s real estate market is very different from the Indian real estate market. The domestic demand situation in India and Dubai are very different, primarily due to the different demographics. For instance, the gap between demand and supply in India, which is almost 25 million units, ensures the Indian real estate sector will do well for decades to come. Brief us about the current and ongoing projects? As of October 31, we have completed 23 projects, comprising 16 residential and seven commercial projects. This totals to approximately 5.13mn sq ft of developable area. Our total land reserves currently stand at 391.04 acres aggregating to approximately 82.74mn sq ft of developable area and 50.21mn sq ft of saleable area which includes ongoing and forthcoming projects, most of which are joint ventures. We have recently launched Godrej Eternia, a commercial project, in Chandigarh and Godrej Prakriti, a residential project on BT Road in Kolkatta. We will soon be launching Godrej Garden c
