Realty sector wants industry status in Union Budget
Property consultants and real estate developers have demanded industry status to the realty sector in the forthcoming Budget.
Property consultants and real estate developers have demanded industry status to the realty sector in the forthcoming Budget.
The implementation of the revised DTC will have strong implications on SEZs. The industry requires clarity on the issues that may emerge, and how businesses would be promoted in Special Economic Zones.
The last few months have seen a lot of mid-sized office and mixed-use buildings in Mumbai going under the hammer. Not very surprising, considering the wave of real estate redevelopment that has swept the city. What is so unusual about these buildings is the fact that they are going to be redeveloped into stand-alone retail formats.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
The much anticipated opening up of Foreign Direct Investment (FDI) in multi-brand retail has renewed interest of several large international retailers in Indian retail market.
Spencer’s has initiated stake sale talks with a foreign retailer on hopes that foreign direct investment will be opened up in multi-brand retail.
Two marquee international brands — Giorgio Armani and Ferragamo — that have joint ventures with leading realty player DLF group’s subsidiary, DLF Brands, have been talking to other corporate groups and investors to scope out the potential of changing their Indian partner.
It would seem that the Union Budget 2011 pointedly ignored the larger issues affecting the Indian real estate sector at this sensitive stage of revival and growth.
Through a hailstorm of bouquets, brickbats, controversies and triumphs, the Indian real estate sector has always been one of the mainstays of the country’s economy. At some level, every Indian is connected with it; in some way or the other, it affects every citizen of this country.