Indian Real Estate Roundup - 2007

* In broad terms, 2007 has been a good year for the Indian real estate sector. All fundamentals are firmly in place, and there have been only isolated ‘overheated’ pockets.
* The volume of residential sales had slackened, but is now picking up again satisfactorily.
* Of concern have been the facts that too much funds were chasing and continue to chase too few good projects, and that the supply of quality spaces across sectors and geographies did not meet existing demand.
* 2007 also did not resolve the question of whether SEZs in India are merely a ‘real estate game’ or whether they will serve their intended purpose.