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Track2Realty Exclusive: The sentiments in the property market are subdued across the country and the transactions have nosedived in most of the major markets. However, Gujarat real estate seems to be picking up to buck the trend otherwise and the sentiments are changing for the better. This is reflective in the transactions that are happening across the state.
Track2Realty Exclusive: Once known for cotton cultivation, Annur is fast changing its outlook as cotton cultivation has taken a back seat in the last over a decade due to high cultivation cost and uneconomical operation arising out of poor marketing infrastructure. The region nevertheless holds tremendous potential to emerge as one of the key real estate hotspots in time to come.
Track2Realty Exclusive: The Government of India has been re-evaluating policy measures and modifying these or initiating fresh mandates in order to give a boost to the industry. Changes in policies pertaining to SEZs towards reducing area requirements, the easing of norms for external commercial borrowing (ECB) for development of affordable housing and the augmentation of limits for listed NCDs will go a long way in clearing bottlenecks faced by the sector.
Track2Realty: The problem of illegal buildings in Mumbai – and their impact on the existence of Mumbai’s citizens and organizations, as well as its real estate market – is not a recent phenomenon. In fact, it is as old as the BMC itself. Whether they were the result of corruption and collusion or lack of vigilance of, the issue has always persisted in what is India’s financial capital, which is also the country’s most space-challenged city.
Track2Realty: At more than US$150 per sq. ft. per annum, Delhi’s traditional central business district (CBD) of Connaught Place was ranked as the eighth most expensive office market in the world, according to CBRE Global Research and Consulting’s semi-annual Global Prime Office Occupancy Costs survey.
Track2Realty: In marked contrast to other cities, the dynamics of luxury housing in Mumbai have changed dramatically over the last decade. Delhi, Kolkata and Chennai continue to have location-specific premiums, which have risen consistently.
Track2Realty: Over fifty percent of real estate buyers decisions are influenced by Internet research. The phenomenon, of researching online for real estate information is not limited to metros but also extended to buyers in tier II cities, as per the study of Google India. The study was conducted to understand the influence of Internet on real estate purchase decisions in India.
Track2Realty: In India’s competitive real estate market, luxury housing projects have been launched aplenty over the last couple of years. So much so that a conservative market like Chennai, for instance, is likely to witness about 1,500 units of ultra-luxury homes—budgeted between Rs. 5–20 crore—within the next 12 months.
Track2Realty: Cumulative commercial real estate loans have tripled to reach INR 1.428 billion in the last six years up to November 2013, whereas individual housing loans doubled to reach INR 5.185 billion during the same period.
Track2Realty: The City and Industrial development Corporation (CIDCO) of Maharashtra has embarked on a Rs 20,000 crore infrastructure development for the nodes managed by it in Navi Mumbai and indicated that the first phase of the new international airport will be ready by December 2018.