Ravi Sinha: I think Mr Tripathi has a very valid point that the CCI has emerged. You have also seen the wrong side of consumer activism in a Noida Extension kind of a situation. When we think of reforms, government is looking for a regulator and a whole lot of sector’s wish list has not gone down well with the government. Do you think that the sector will move ahead with some sort of reforms in the year ahead?
Track2Realty: The past decade has witnessed a period of economic transformation of the Indian real estate industry. After the global financial crisis, the pace at which the industry has bounced back is magnificent. Our real estate ecosystem typically comprises of architects, developers, Government & regulatory authorities, financial institutions, private equity players, other funding agencies, brokers, property consultants and of course most importantly the buyers.
Track2Realty Exclusive: Vidya Basarkod, President, Sales and Marketing, Jaypee Greens believes though the Indian economy has gone through turbulent phase of slowdown, demand for housing has kept the momentum for residential real estate. In an exclusive interview with Track2Realty she asserts though liquidity has been a concern for both the buyers as well as developers, there are more pressing issues hampering the growth of the sector, like delays in approvals, infrastructure bottlenecks and skilled manpower.
Track2Realty: Puravankara Projects is launching a luxury residential apartment project in Rajajinagar, Bangalore. Located in a prime area of Rajajinagar in central west Bengaluru, the project is just 1.4 km from the city railway station and about 2.7 km from the commercial hub, Majestic bus stand.
Track2Realty: Today there is no entry barrier in the sector for any fly-by-night operator with black money to back his initial pomp and show to lure customers. But for a serious start-up there are many perils that plague. Problem is all the voices are being raised to ease only a section of the developers with often myopic vision with regard to the future of the sector.
Track2Realty-Agencies: The Bombay High Court has cleared the way for construction major Shapoorji Pallonji and Co. to sue Qatar Airways for Rs 59 lakh with interest.
Track2Realty Exclusive: The capital city is witnessing a face lift with various infrastructural initiatives, increasing prominence of satellite towns and emergence of new business districts. The Master Plan 2021 aims at making Delhi “a global metropolis and a world class city” for which necessary initiatives are being undertaken by both the Government and the private sector.
Track2Realty Exclusive: Call it being overt critical on the realty business or my sense of introspection, I maintain that the biggest drawbacks in the sector is we are not sure what precisely we want from the government, nor is there any clarity as to how this will help the sector; whether our demands are feasible from ethical, financial or legislative point of view.
Track2Realty Exclusive-Yearly Analysis: The biggest question for the realty sector today is whether 2013 will help them get out of the vicious circle, which came disguised as the pipeline visibility over the years. Many believe everyone is getting ready with own respective strategy and the year ahead holds promise. Some of the leading companies are already selling their land bank at discounted prices to turn the tide.
Track2Realty Exclusive-Yearly Analysis:During the boom, many developers dreamt of transforming the urban landscape with millions of square feet of homes, offices and malls and set off on an aggressive expansion financed with debt that at 6 per cent interest was cheap by Indian standards. When the going was good, they went overboard with over ambitious big-ticket projects in various cities, many of which still remain stalled.