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Indian realty destination next for skyscrapers-III

Not all experts and analysts are bullish in a country which has just two of world’s 276 skyscrapers. Prof PSN Rao, Professor of School of Planning and Architecture has a different take when he says high rise buildings look good in the urban city scape. However, in terms of the power they consume, the high initial costs of construction and high periodic costs of maintenance, perhaps they are not viable for residential structures.

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Realty reluctant to accept inventory holding allegation

Price rationalisation has always been a tricky issue in real estate business where demand and supply dynamics drive the market more than any other parameter. The fact that real estate is not a perishable commodity and mostly a business of deep pockets, holding of inventory many a time makes more sense than hard sell keeping in mind the pipeline visibility.

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CREDAI reacts over Finance Minister’s asking to not hold inventory

CREDAI has reacted sharply over the Finance Minister’s asking chiefs of public sector banks to put pressure on real estate developers to lower property prices and not hold invetory. CREDAI has said in a release that instead of asking realtors to download unsold stock at discounted prices, the Union Finance Minister P Chidambaram should take immediate steps to boost to housing stock supply through special incentives to the affordable segment.

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US Government hires consultant to sell its real estate properties in India

The US Government has hired property consultancy Knight Frank to assess the valuation and strategic review of all its real estate properties in India. The properties, which house embassies, consulates, offices, residences, schools and libraries at prime locations across Delhi, Mumbai, Hyderabad, Chennai and Kolkata, were acquired over the years and are estimated to be approximately worth thousands of crores.

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Haryana Government to crack down on pre-launch offers

After Track2Realty reported that how real estate developers are blatantly violating the ban on pre-launch schemes as advised by the Supreme Court, the Haryana Government has now decided to crack down against the erring realty companies. Many established realty companies and new players in the fray are illegally offering residential projects before acquiring the required license, and in some cases, even without a land in blatant violation of warnings by the authority.

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