Track2Realty: Tata Housing has signed addendum agreement with the Government of Maldives for the successful completion of the residential projects in Malé, Maldives. The agreement was signed by Brotin Banerjee, Managing Director and CEO, Tata Housing in the presence of Minister of Housing and Infrastructure Dr. Mohamed Muizzu in Maldives.
Track2Realty: Narendra Modi’s government has made massive forward strides within a short period. The progress in such a short period is remarkable, considering that the government is still hamstrung by a disproportionate fiscal deficit and its ability to induce further growth through public investment.
Track2Realty Exclusive: Reeling under compelling economic circumstances that call for financial prudence and tough measures, the first Union Budget of the NDA Government is still reason enough for the real estate sector to exude optimism. It seems the euphoria of a stable government at the Centre is running so deep that despite of the government taking certain tough economic measures before the budget itself and the Reserve Bank of India also not cutting the repo rate down in its recent monetary policy review, the sector is expecting rosy days ahead with the budget being the first catalytic point.
Track2Realty: Maharashtra Government will soon come out with cluster development policy. This was announced on Friday, June 27, by Sachin Ahir, Minister of State for Housing, Slum Improvement, Housing Repairs and Reconstruction, Urban Land Ceiling, Industries, Mines, Transport, Environment and Parliamentary Affairs. He was speaking at the real estate conclave organised by Confederation of Indian Industry (CII) in Mumbai.
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 Exclusive: The real estate sector in India today is developing at a scorching pace. Factors such as higher levels of income and purchasing power and the growing need for entertainment, leisure and shopping, the government’s focus on infrastructure development, rapid urbanisation driven by rural-urban immigration and an emerging trend of nuclear families, greater availability of loans to finance real estate purchases, amongst others, have been instrumental in this development.
Track2Realty Exclusive: Stable government has been the buzz word in India for quite some time; it has actually been one of the focal points of General Elections of 2014. In India since 1984 no government at centre could take charge of the office without the added baggage of unlike minded friends as alliance partners.
Track2Realty: Dubai becomes the first country to formally get the government support to The International Property Measurement Standard (IPMS). The IPMS, which is being developed by a coalition of 22 professional and not-for-profit organisations from around the world, including the IMF, RICS and BOMA will address global inconsistencies in the way property is measured, leading to greater transparency and increased investor confidence.
Track2Realty-Agencies: Supporting Union Urban Development Minister Kamal Nath’s push for vertical growth in the city, the Delhi government has said the Centre will have to give adequate funds to it for enhancing existing infrastructure if such a policy is finalised.
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.