Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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    <h1 class="cat-box-title">1.2 crore vacant homes– This one number tells us all that is wrong with Indian real estate -Vivek Kaul</h1>
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                            <div align="justify">-FirstPost.com<br /><br />Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., in a recent article writes that &ldquo;around 1.2 crore completed houses&rdquo; are &ldquo;lying vacant across urban India&rdquo;. This one number tells us all that is wrong with Indian real estate.<br /><br />Even though there is a huge housing shortage in urban India, 1.2 crore completed homes are lying vacant. As the latest Economic Survey points out: &ldquo;At present urban housing shortage is 1.88 crore units.&rdquo;<br /><br />So, we have this situation where 1.2 crore completed homes are lying vacant even though there is a housing shortage of 1.88 crore in urban India. What explains this discrepancy? &ldquo;95.6 percent [of housing shortage] is in economically weaker sections (EWS) / low income group (LIG) segments,&rdquo; the Economic Survey points out.<br /><br />What the huge number of vacant homes also tells us is that real estate companies have been building and selling homes at price points at which there are few takers. Why is that? The answer for that lies in the fact that homes are being built essentially for those who want to invest and speculate.<br /><br />Hence, investors control the real estate market in India instead of those who want to buy and live in homes. These investors are more comfortable keeping the homes empty and not put them on the rental market. The rental yield (i.e. annual rent dividend by the market price of the home) currently varies between 2-4% depending on which part of the country you live in. Hence, the return is not good enough to compensate for the risks involved in letting the house out on rent. Given this, a lot of homes are bought and then stay locked.<br /><br />Please <a href="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html" title="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html">click here</a> to read more.</div>                                                           
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    <br><a href="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html" class="re" target="_blank">FirstPost.com, 30 April, 2015, http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html</a><div class="clear"></div>
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    <h1 class="cat-box-title">1.2 crore vacant homes– This one number tells us all that is wrong with Indian real estate -Vivek Kaul</h1>
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                            <div align="justify">-FirstPost.com<br /><br />Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., in a recent article writes that &ldquo;around 1.2 crore completed houses&rdquo; are &ldquo;lying vacant across urban India&rdquo;. This one number tells us all that is wrong with Indian real estate.<br /><br />Even though there is a huge housing shortage in urban India, 1.2 crore completed homes are lying vacant. As the latest Economic Survey points out: &ldquo;At present urban housing shortage is 1.88 crore units.&rdquo;<br /><br />So, we have this situation where 1.2 crore completed homes are lying vacant even though there is a housing shortage of 1.88 crore in urban India. What explains this discrepancy? &ldquo;95.6 percent [of housing shortage] is in economically weaker sections (EWS) / low income group (LIG) segments,&rdquo; the Economic Survey points out.<br /><br />What the huge number of vacant homes also tells us is that real estate companies have been building and selling homes at price points at which there are few takers. Why is that? The answer for that lies in the fact that homes are being built essentially for those who want to invest and speculate.<br /><br />Hence, investors control the real estate market in India instead of those who want to buy and live in homes. These investors are more comfortable keeping the homes empty and not put them on the rental market. The rental yield (i.e. annual rent dividend by the market price of the home) currently varies between 2-4% depending on which part of the country you live in. Hence, the return is not good enough to compensate for the risks involved in letting the house out on rent. Given this, a lot of homes are bought and then stay locked.<br /><br />Please <a href="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html" title="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html">click here</a> to read more.</div>                                                           
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Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., in a recent article writes that &ldquo;around 1.2 crore completed houses&rdquo; are &ldquo;lying vacant across urban India&rdquo;. This one number tells us all that is wrong with Indian..."/>
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Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., in a recent article writes that &ldquo;around 1.2 crore completed houses&rdquo; are &ldquo;lying vacant across urban India&rdquo;. This one number tells us all that is wrong with Indian..." />
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    <h1 class="cat-box-title">1.2 crore vacant homes– This one number tells us all that is wrong with Indian real estate -Vivek Kaul</h1>
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                            <div align="justify">-FirstPost.com<br /><br />Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., in a recent article writes that &ldquo;around 1.2 crore completed houses&rdquo; are &ldquo;lying vacant across urban India&rdquo;. This one number tells us all that is wrong with Indian real estate.<br /><br />Even though there is a huge housing shortage in urban India, 1.2 crore completed homes are lying vacant. As the latest Economic Survey points out: &ldquo;At present urban housing shortage is 1.88 crore units.&rdquo;<br /><br />So, we have this situation where 1.2 crore completed homes are lying vacant even though there is a housing shortage of 1.88 crore in urban India. What explains this discrepancy? &ldquo;95.6 percent [of housing shortage] is in economically weaker sections (EWS) / low income group (LIG) segments,&rdquo; the Economic Survey points out.<br /><br />What the huge number of vacant homes also tells us is that real estate companies have been building and selling homes at price points at which there are few takers. Why is that? The answer for that lies in the fact that homes are being built essentially for those who want to invest and speculate.<br /><br />Hence, investors control the real estate market in India instead of those who want to buy and live in homes. These investors are more comfortable keeping the homes empty and not put them on the rental market. The rental yield (i.e. annual rent dividend by the market price of the home) currently varies between 2-4% depending on which part of the country you live in. Hence, the return is not good enough to compensate for the risks involved in letting the house out on rent. Given this, a lot of homes are bought and then stay locked.<br /><br />Please <a href="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html" title="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html">click here</a> to read more.</div>                                                           
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    <br><a href="http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html" class="re" target="_blank">FirstPost.com, 30 April, 2015, http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html</a><div class="clear"></div>
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1.2 crore vacant homes– This one number tells us all that is wrong with Indian real estate -Vivek Kaul

Published on May 5, 2015   Modified on May 5, 2015

-FirstPost.com Anshuman Magazine, chairman and managing director of CBRE South Asia Pvt. Ltd., in a recent article writes that “around 1.2 crore completed houses” are “lying vacant across urban India”. This one number tells us all that is wrong with Indian real estate. Even though there is a huge housing shortage in urban India, 1.2 crore completed homes are lying vacant. As the latest Economic Survey points out: “At present urban housing shortage is 1.88 crore units.” So, we have this situation where 1.2 crore completed homes are lying vacant even though there is a housing shortage of 1.88 crore in urban India. What explains this discrepancy? “95.6 percent [of housing shortage] is in economically weaker sections (EWS) / low income group (LIG) segments,” the Economic Survey points out. What the huge number of vacant homes also tells us is that real estate companies have been building and selling homes at price points at which there are few takers. Why is that? The answer for that lies in the fact that homes are being built essentially for those who want to invest and speculate. Hence, investors control the real estate market in India instead of those who want to buy and live in homes. These investors are more comfortable keeping the homes empty and not put them on the rental market. The rental yield (i.e. annual rent dividend by the market price of the home) currently varies between 2-4% depending on which part of the country you live in. Hence, the return is not good enough to compensate for the risks involved in letting the house out on rent. Given this, a lot of homes are bought and then stay locked. Please click here to read more.

FirstPost.com, 30 April, 2015, http://www.firstpost.com/business/1-2-crore-vacant-homes-one-number-tells-us-wrong-indian-real-estate-2220612.html

Tagged with: Real Estate black money Corruption Housing housing Shortage

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