Track2Realty Exclusive: The Union Cabinet has cleared the Land Acquisition Bill, the realty sector is debating its pros & cons but the home buyers are apprehensive whether the house prices will shoot up in proportion of the higher cost of fresh land acquisition. The Bill cleared by the Union Cabinet makes the consent of 80 per cent of owners mandatory for private projects.
Track2Realty-Agencies: Land prices will escalate leading to rise in housing price if the Land Acquisition Bill is passed by Parliament, real estate developers and property consultants have said.
Track2Realty-Agencies: To provide cheaper houses for lower income groups, the Ministry of Housing and Urban Poverty Alleviation (HUPA) is working for the inclusion of affordable housing in the infrastructure list.
Call it the fallout of Competition Commission of India (CCI) penalty on the biggest real estate company DLF in a Gurgaon case last August, there has been a rush of complaints at the CCI against several property majors since then. According to CCI officials at least 200 complaint letters came to them against real estate players, of them around 15 were official cases.
A recent industry report shows that FDI in 2010-11 was the lowest in the last four years. According to the FICCI-Ernst & Young real estate report, the FDI in the sector declined to 6 per cent of the total direct investment coming to India in 2010-11.
Though a depreciating rupee has its fall out on all other economic activity, it is rather helping the Indian property market.
After CREDAI now real estate developers body NAREDCO has approached the CCI seeking intervention against the alleged cement cartelisation hitting real estate developers.
The Competition Commission of India (CCI) penalty of Rs.630 crore on DLF has raked up the old debate in the sector as to whether the business falls under the service sector.
The annual campaign has been supported by over 75 Green Building Councils (GBCs), plus partners, hosting over 100 events around the world to spotlight solutions to industry stakeholders for a resilient and decarbonised built environment. By REDUCE, it aims at improving energy efficiency and minimise energy use; by ELECTRIFY, it aims at shifting to electricity for essential functions and ensuring electricity generation is from low-carbon sources such as renewables; and, by ADAPT, it aims to ensure the built environment is capable of withstanding the impacts of climate change.
hBits, a fractional ownership platform, has marked its entry in the second largest city of Maharashtra with the acquisition of the 44,328 square feet campus – CyberCity Magarpatta. A city within a city, the campus houses a commercial zone, a shopping mall, multiple restaurants, two schools, residential neighborhoods, a gymkhana as well as a large 25-acre serene park. Through this asset, hBits aims to create an investment opportunity worth INR 55 crore, thus democratizing access to Grade A commercial real estate for investors.