Track2Realty Exclusive: The fact that SEZ story in India was left on the private hands, the key policy plank of SEZ policy, to promote manufacturing and hence create jobs (both skilled and semi-skilled) for the rural masses took the back seat. IT/ITeS with limited scope of job creation, compared to manufacturing, started dominating the SEZs.
Browsing: Investigation
Track2Realty Exclusive: When the issue of Maharashtra Government levying 5 per cent Value-Added Tax (VAT) surfaced and the MCHI-CREDAI and a couple of other developers’ and trade associations moved to the court, a consumer group called FORAM–Flat Owners’ Rights protection Action committee in Maharashtra – was formed with consumer interest groups coming together and seeking to fight the vexed VAT issue on flats in Maharashtra.
Track2Realty Exclusive: In China, SEZs were developed along its southern coast in the areas of Shenzhen, Shantou, Zhuhai, Hainan and Xiamen which were backward small villages lacking in basic infrastructure and industrial resources. These zones were developed as manufacturing hubs and the open access to international trade sea lanes led to their success.
Track2Realty Exclusive: Commerce Ministry data fails to give a comprehensive picture where many grandiose plans have failed to tap the potential that actually existed. Several SEZ projects and the expansion plans, like the SEZs at Navi Mumbai, Jhajjar in Haryana, Adani’s Mundra, DLF’s Cyber City in Gurgaon, Mahindra World City in Chennai, K Raheja Universal and Flagship Infrastructure in Maharashtra are facing difficulties. The SEZs cumulatively have been losing ground over the past couple of years.
Track2Realty Exclusive: The remarkable difference in export performance of China vis-à-vis India over the last two decades compelled India to look at its northern neighbour for successful strategies. One of the key strategies leading to the Chinese success was setting up of Special Economic Zones (SEZs) since 1980. SEZs became the drivers of China’s massive export surge and today, the 5 major Chinese SEZs account for a cumulative FDI of approx. $70 billion, generate 20 per cent of China’s total exports and provide direct employment to over 8 million people.
Track2Realty Exclusive: There are certain precautions one must take in documentation when going for a resale property. Om Ahuja, CEO–Residential Services, Jones Lang LaSalle India says all the documents that are applicable for a primary residential property sale would be required for a clear resale flat transaction, as well. The seller should be able to produce all original documents.
Track2Realty: The Cabinet on Tuesday, June 4, cleared the Real Estate (Regulation and Development) Draft Bill, aimed at organising and monitoring the sector.
Track2Realty Exclusive: A quest for brand new home is inherently ingrained in the psyche of Indians. However, that is fast changing, thanks to unmet commitment of developers in recent times, banks’ changed outlook and home buyers’ convenience in major cities. Track2Realty reads the pulse of home buyers to understand why resale apartment is no more a taboo and is rather preferred over the new launches and under-construction apartments.
Track2Realty Exclusive: What is the level of understanding and willingness among the Indian developers to create smart cities in a country which has been branded as a ‘reluctant urbaniser’ by many international experts?
Track2Realty Exclusive: Some developers assert the redevelopment can add value in ways more than one and depends on the location and area of redevelopment. Diipesh Bhagtani Executive Director Jaycee Homes says in a particular location where the flats are already huge, a developer cannot offer a still larger space but can offer luxury.