An effort has been made in the second issue of IREF to map the Indian real estate contours and paint a realistic picture of the Indian realty- etiology of the overheated markets, its aftermath and finally an initiation of its consolidation.

The basic underlying tone being optimistic, IREF brings to all the stake holders of real estate the news of closure of a mega real estate fund by IIML with a corpus of US$ 895 million- to revive the sagging spirits of developers amidst the downturn. Catching the offshore winds into its sails, the article Reality of Realty effectively traces the cause and effect of the US sub-prime crisis and imparts direction to the Indian real estate. India is portrayed as a potential opportunity in global financial crisis by Shobhit Agarwal, Joint MD, JLLM in his article. The spiraling growth in the logistics and warehousing sector and the niche opportunity embedded therein has been brought forth by Amol Shimpi, Vice President, Colliers International Ltd.

A lawyer's perspective on the raise of Floor Space Index has been included. Parimal Shroff, one of the eminent real estate lawyers in India gives a bird's eye view of the real estate legal set up . Hotspots 2009 authored by Ashutosh Limaye, Vice President, JLLM probes the growth of upcoming residential centres in India in tandem with the infrastructural facilities.

The crests and troughs of the Indian real estate market since 1984 have been covered by Chetan Narain of Narain Corps, Property Consultants. On the basis of Preqin's international database, Tim Friedman has portrayed the global investor sentiment with regard to private equity real estate fund raising in India.

Sections such as Market Watch and the Deal Stories offer more than a snapshot of the current real estate market for the reader to be able to put their finger on the nerve.