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Real Estate Finance in India By Prashant Das and Divyanshu Sharma Sage Publications India Pvt. Ltd., New Delhi, 2014, Pages: 332, Price: ?995 ISBN: 978-81-321-1164-1 (HB)
INTRODUCTION
Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.
- Theodore Roosevelt (1858-1919), 26th President of USA
Real estate sector of India is one of the most versatile and vibrant sectors with high Year-on-Year (Y-o-Y) growth rate and expected to have a market size of USD180 bn by 2020. It is the second highest provider of employment in India after agricultural sector. Real estate is further sub divided into commercial, hospitality, housing and retail sub sectors. In the past few years, the Indian real estate has witnessed a high demand for both offices and residential spaces. The growth of real estate and its sub sector has a direct impact on the development of the corporate environment and demand for urban and rural office spaces.
As per Department of Industrial Policy and Promotion (DIPP) report, the construction development sector has been attracting a huge amount of FDI inflow over the past few years. Though the real estate sector of India seems to be a lucrative avenue for investment but there exists many hidden risks that are associated with it. To understand the complex nature of risk and return relationship that persists in Indian real estate, one needs to understand the theory. Real estate finance decisions are irrevocable and need higher degree of accuracy in spite of several complexities as a single wrong decision can lead to high loss. As far as estate finance of India is concerned, very limited reference materials are available for academics. Several high quality knowledge books on real estate are available but most of them fail to relate the literature with real situation application in Indian real estate. There is need for a book that can provide holistic knowledge about the Indian real...