Track2Realty Exclusive: Clash of generation in Indian business is no secret. However, when it comes to the second generation in Indian realty, the gap gets even wider since suave & sophistication that often comes with their foreign degree is in sharp contrast to the complex nature of business.
Track2Realty-Agencies: Supporting Union Urban Development Minister Kamal Nath’s push for vertical growth in the city, the Delhi government has said the Centre will have to give adequate funds to it for enhancing existing infrastructure if such a policy is finalised.
Track2Realty Exclusive: Some of the developers maintain that it is more about the mindset change than technology in Indian real estate which needs to be handled.
Track2Realty Exclusive: In India redevelopment is a huge market, where a developer has to work with cooperative housing societies. In Mumbai the process has already started due to additional FSI granted with the new development rules. The new DCR has made it easy for developers to negotiate with the societies because now they know what areas are sanctioned and there are no free areas.
Track2Realty Exclusive: India, although not by plan, is experiencing a boom in once relatively obscure cities. Its rising urban centers are not confined to four metro cities or Bangalore and Ahmedabad, and load on urban land and overall infrastructure demands India must take learnings from global experience of redevelopment.
Century Real Estate has reportedly raised Rs 40 crore from Reliance Capital and will raise another Rs 160 crore from the Anil Ambani promoted firm for its upcoming residential projects. According to reports the deal was closed last week and will be a structured transaction, which includes private placement of non-convertible debentures (NCD) and equity component.
The Environment Ministry has now set new norms for buildings higher than four floors. However, experts question the compliance aspect. Sachin Sandhir, Managing Director (South Asia) of RICS is apprehensive with the enforcement of stricter norms for structural safety.
It is just the pipeline visibility that is driving developers like Supertech which is building north India’s tallest residential as well as tallest mixed land use project. Theyrather assert that changing demographics, lifestyle and growing aspirations have encouraged them to launch conceptually designed projects with facilities which are matchless and desired by the people.
Not all experts and analysts are bullish in a country which has just two of world’s 276 skyscrapers. Prof PSN Rao, Professor of School of Planning and Architecture has a different take when he says high rise buildings look good in the urban city scape. However, in terms of the power they consume, the high initial costs of construction and high periodic costs of maintenance, perhaps they are not viable for residential structures.
The Noida Extension land acquisition fracas was all about the authorities allowing developers to acquire land at considerably low prices from farmers and also changing the planned use pattern from industrial to residential. Farmers revolted and were able to gain wide support from different quarters.