Hows Indian real estate doing this festive season?

According to our four point mission critical infographic, its cold. 

Just a few weeks ago, we posted this story about how uncertain the great Indian real estate revival was and today, we chase it with some facts and figures that we unearthed from reliable sources and property market watchdogs.

1 - According to real estate research firm Liases Foras, 7.6 lakh apartments remain unsold across numerous cities of India as on July 2014.

2 - According to real estate intelligence firm PropEquity, a mere 27 new project launches took place in September 2014 across the top 15 Indian cities. This number was 270+ in September 2013! There is simply too much inventory out there waiting to be sold. The over supply situation has forced builders to focus on completing and selling out existing stock rather than launching new projects.

3 - Going by what some established real estate brokerages have said, it seems that real estate sales are up to 8 times slower than what they were in the festive season of 2012. This simply confirms that over the last 2 years, Indian real estate has seen some serious braking and this festive season could well be the new low before a slow and steady turnaround begins. 'Buyers are a scared lot' is still being heard often.

4 - 12 to 18 months is the time most veterans now think it would take the Indian real estate market to stabilize and turnaround. The signs of recovery, they reckon, could start breaking ground from around March - April, 2015.

Moral of the Story - For Indian property builders, consultants and brokers, laughing all the way to the bank will have to wait for some more time. Sigh.