For Apr`12, Bengaluru continued to post stable residential volumes of 4msf/mth led by consistent launches, while Gurgaon maintained its trend of moderating volumes (as per expectations) as big project launches (Godrej/IBREL in Sec-104) were pushed to July-Aug. Mumbai remained a laggard despite a slight uptick during April.
Inventory levels were slightly up due to lower volumes (Gurgaon/Mumbai) and higher launches (Bengaluru), while low inventory of completed/near-completion projects continue to mean lower pressure on builders - at least in the near term.
``Our Strategy team expects a recovery in macro starting H2FY13. This, we believe, should be an inflection point for volume recovery as well, the first check of which will be during the festive season,`` said Religare Capital Markets in its real estate sector report.
``We remain positive on the sector as most of slowdown is already reflected in current valuations. DLF and PEPL remain our top picks in the Indian real estate space,`` it said.
Source:www.myiris.com
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