Track2Realty Exclusive-Yearly Analysis: The unprecedented restructuring of project portfolio, selling of land bank, exiting non-core business and the job cuts have yet not led the Indian real estate into the desired comfort zone. The realization to shed the flab has on the contrary left some of the developers to outsource the project execution and pay more.
Track2Realty Exclusive Yearly Analysis: Residential real estate is defying the conventional wisdom of economics where a constant price hike is not benefitting the real estate companies either. Track2Realty finds with pressure on both the demand and supply side, residential real estate has gone into a vicious cycle of ever increasing cost, falling demand, liquidity crunch and last, but not the least, delay in approvals adding to the woes of the developers.
Track2Realty Exclusive: The Union Cabinet has cleared the Land Acquisition Bill, the realty sector is debating its pros & cons but the home buyers are apprehensive whether the house prices will shoot up in proportion of the higher cost of fresh land acquisition. The Bill cleared by the Union Cabinet makes the consent of 80 per cent of owners mandatory for private projects.
Track2Realty: Responding to Finance Minister P Chidambaram’s suggestion for reducing the price of housing stock, Confederation of Real Estate developers’ Associations of India (CREDAI) has asked its 8,000 plus members across the country to seriously consider the proposal to sell in maximum numbers.
Track2Realty: Despite aggressive marketing and great offers made by developers on the eve of Diwali festival, the investment in the property have remained lukewarm due to high prices of houses in and around the NCR region. Major factors cited have been high prices of land and the unprecedented rise in the cost of construction materials, iron, cement, labour etc., says the ASSOCHAM survey.
Track2Realty Exclusive: The Mumbai property market seems to be determined to break the jinx this festive season with new launches, offers, changed marketing formats and even price correction. If the market trend so far is any indication, it is quite apparent that the developers have gone through the learning curve in the last 2-3 years and are now determined to break the jinx. In this endeavour to bounce back, buyers are smiling all their way to property search and in the process the city property market is defying the collective consciousness of being an over-heated realty market.
Track2Realty: Central Bank of India is looking ahead to cloak a total business of Rs 10,000 crore from home loan segment. The bank has been aggressively targeting prospective home seekers through its various initiatives.
Track2Realty Exclusive: While the Vijay Kelkar Committee has strongly advocated in its recommendation to the Central Government that monetisation of the government land can finance the basic urban infrastructure needs, a move in that direction has set the tone for a fresh debate in Maharashtra.
Track2Realty: The Maharashtra government has revised lease rentals of a total of 1,577 lands situated in Mumbai city and suburbs. The revised lease rentals, which are fixed on ready recknor rates, would be effective from January 1. State cabinet chaired by Prithviraj Chavan gave its approval at its meeting held on Tuesday, Oct 9.
Track2Realty: India Against Corruption (IAC) raised certain allegations, some of which pertained to DLF. In this regard, we would like to state that the business relationship of DLF with Mr Robert Vadra or his companies, has been in his capacity as an individual entrepreneur, on a completely transparent and at an arm’s length basis. Our business relationship has been conducted to the highest standards of ethics and transparency, as has been our business practices, all around.