The building approval process in India is relatively slower and more expensive in comparison to several other countries as indicated by a recent World Bank assessment. The report highlights that an average 37 procedures over a period of 195 days are needed for obtaining construction permits in the country vis-à-vis 15 approvals over an average 157 days in the OECD region.
Anmol Shah, the Gujarati businessman settled in Mumbai, has both the emotional as well as rational reasons to invest in property this time on Akshay Tritiya. His astrologer has suggested that very much like a few years back when he bought his first flat in Mumbai, followed by an office in one of the Central Business Districts (CBD) on Akshay Tritiya, he should yet again buy the second house on the auspicious day this year.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
In contrast to what was been witnessed in many of the more volatile cities over the last couple of years, Chennai’s residential property market saw steady growth in terms of pricing, demand and supply. Chennai’s residential property market is predominantly end user driven, and this fact did a lot to sustain consistent absorption throughout 2011.
In the environment of cut-throat competition which exists in the Indian real estate market today, developers without a forward-looking marketing plan for their projects often lose out.
Mumbai continues to be the costliest property market in India but the sales graph show this value has started taking its toll on the volume. Property registration in India’s biggest real estate market continued its slide and in September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
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Rohan Sharma, Manager – Research & Real Estate Intelligence Service,…
Investors Clinic Infratech, the real estate marketing and brokerage firm operating under the brand name of ‘Investors Clinic’, has set up its first international operations in Dubai.
Ozone Group, the Bangalore-based realty developer, is raising a debt of Rs.500 crore from a consortium of banks led by State Bank of India (SBI) for its upcoming residential cum commercial township project – Ozone Urbana.