With real estate giving better ROI than any other investment vehicle in the country the investors in the India are today exposed to what is happening in the global market. The investors are hence curious to explore what has been tried and tested format in other matured markets – crowdfunding.
Bottom Line: The understanding of best practices is very archaic…
News Point: With 315 MSF office and 39 MSF mall…
In the real estate market consumer activism in India may have been high in recent times, but consumer awareness is pretty low. Most of the first time home buyers even fail to differentiate between what they want and what they need in an apartment, forget about their knowledge with regard to legalities and necessary checklist. The mismatch between developers’ offerings and buyers’ perception is a critical missing link leading to an impression gaining ground that the developer has not fulfilled his promise.
“How long can a sector survive which is borrowing at 48 per cent from private lenders to serve the interest of previous debt raised at much lower rate,” asks a banker. His concern is not without valid reasons. Developers experimented with all funding options but still many of them are now being forced to seek other sources of funding which not only comes at a significantly higher cost but also where the source of fund is unregulated.
What needs to be done to ensure that Real Estate Investment Trusts (REITs) get to be the game changer? In India, we have seen ‘pious thought’ and ‘positive thinking’ not always being supplemented by positive action on part of the ‘powers that be’; be they regulatory authorities or the taxation authorities. Challenges which need to be addressed include different rates at which stamp duties are levied, for purchase and sale of assets across various states in India. Potential exists; making it a reality is the challenge.
Track2Realty: Describing Union Finance Minister’s Arun Jaitley’s maiden budget as “half glass full” and half filled with hopes, realtors’ apex body CREDAI Chairman Lalit Kumar Jain said it met with some expectations and left some out.
Track2Realty: The alarm on a tough upcoming budget was sounded when the newly elected Prime Minister said that “time has come to take tough decisions in the interest of the nation. Prime Minister Narendra Modi is taking all due measures towards his vision of a ‘Shresht Bharat’, amidst some calibrated tough measures.
Track2Realty: SARE Homes has launched its new project ‘Club Terraces’ in Sector 92, Gurgaon. The developer plans to develop this iconic 19-storey tower that will overlook the SARE club, which will be the largest and finest club in Gurgaon, set amidst 7 acres of land.
Track2Realty: Constellation Capital Ltd and S.A. Finvest Ltd, the promoters of realty firm Omaxe Limited, have fixed the floor price for its offer-for-sale (OFS) at Rs. 148 a share.