Track2Realty Exclusive: There is a school of thought within the sector which suggests the nature of the business is more suitable to be carried smoothly as promoter-driven. Though officially no one wanted to be quoted but some of the developers admitted to Track2Realty that the nature of real estate business demands more grounded entrepreneurs and not high flying professionals for whom more money in the sector is the only traction for job hopping.
Track2Realty Exclusive: If CCI verdict against DLF is upheld, it will amount to all developers in danger of coming under the jurisdiction of the competition commission. Would the slew of builders across the country very much be amenable to this kind of interpretation?
Track2Realty: Parsvnath Developers has attempted an image makeover with a marketing scheme and new corporate identity which symbolizes transformation, freshness and simplicity. It also announced its strategy and plan for today’s dynamic business environment.
Track2Realty Exclusive: While the real estate fraternity, legal experts and others had strongly questioned the basis of the CCI order and the enormous penalty of Rs 630-crore levied on the real estate major, the sector itself eventually approached the CCI through its industry associations against the cement cartel. Acting on the sector representatives’ complaints, the CCI imposed a penalty of Rs. 6, 307 crore on 11 cement companies for cartelisation.
The Indian realty sector is facing an acute scarcity of labour as on today. The fast emerging problem will soon drive the realty sector to take to large scale mechanization and what is often referred to as project management. The propensity can be clearly understood based on the premise that the shortage of labour is projected to rise to about 65% mark by the next decade.
Track2Realty: Though the opening of the Indian retail sector to foreign direct investments may have brought cheers to the commercial real estate sector in the country, it is expected that the supply of distressed properties within the commercial segment will increase during the second quarter of 2013, according to the RICS India Commercial Property Survey Q1 2013.
Track2Realty Exclusive: When the Competition Commission of India (CCI) alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers at two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order and the enormous penalty of Rs 630 crore levied on the real estate major. However, within a year the real estate sector itself approached the CCI through its associations against the cement cartel, and got them nailed as well. Consumers too are approaching repeatedly the anti-monopoly body. Track2Realty wonders whether the CCI has become the new regulator in the sector by default.
Track2Realty Exclusive: The redevelopment of a city depends on many local factors and cannot be replicated ad hoc. Mumbai has its own character and flavour and has to be developed according to local needs and infrastructure availability. The government in consultation with developers should work in redeveloping the city of Mumbai by improvising on infrastructure.
Track2Realty: Omkar Realtors & Developers, one of the leading players in making the slum redevelopment a success story in Mumbai believes slum projects are generally feasible in Metro Cities and more particularly in Mumbai. Shifting focus on Slum Rehabilitation for ECB will really help the sector.
Track2Realty Exclusive: The Umeda Exit of the Ikeda Route of the Hanshin Expressway system passes through this building. The expressway is the tenant of these floors. The elevator doesn’t stop on floor 5th-7th; floor 4 being followed by floor 8. These floors consist of elevators, stairways, machinery and other stuff.