Track2Realty: Parsvnath Developers has attempted an image makeover with a marketing scheme and new corporate identity which symbolizes transformation, freshness and simplicity. It also announced its strategy and plan for today’s dynamic business environment.
Track2Realty Exclusive: Consumer rights advocate Lakhendra Singh is even more forthright when he says if CCI has to establish its credibility in the collective conscience; it must make its economic analysis more scientific and full-proof. There can’t be different parameters of defining relevant geographic market and product category for different real estate companies. According to him, CCI instead of being seen as an anti-monopoly watchdog and inspiring confidence has, of late, been in the news for consumer activism.
Track2Realty Exclusive: When the Competition Commission of India (CCI) alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers at two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order and the enormous penalty of Rs 630 crore levied on the real estate major. However, within a year the real estate sector itself approached the CCI through its associations against the cement cartel, and got them nailed as well. Consumers too are approaching repeatedly the anti-monopoly body. Track2Realty wonders whether the CCI has become the new regulator in the sector by default.
Track2Realty: Godrej Properties signs a development management agreement for a project on Whitefield Main Road. The agreement is with United Oxygen Company Private Limited to develop their property situated near Hoody.
Track2Realty: The greatest opportunity and challenge to India’s growth is infrastructure and the greatest challenge to the growth of infrastructure is risks – anticipated and unforeseen – that is part of any project. Risk and its effective mitigation were discussed at Confederation of Indian Industry’s (CII) & CBRE’s flagship event the 2nd Edition of the Conference on Infrastructure Project Management with the theme ‘Risk Management in Projects’. CBRE is the Knowledge Partner for the Conference on Thursday, April 25.
Track2Realty Exclusive: Realtors rue that in spite of all the scrutiny, even today realty does not have the right formula. The issue is not to go public or whether the people who have already gone public are right or wrong. The issue now is if while going public, there is a solution where the actual value is derived on the basis of how other industries value themselves? Only then it makes financial sense to go public as the sector has seen successful IPOs also.
Track2Realty: Supertech has tied up with Disney India for Disney inspired interiors and exteriors at their proposed residential project, Fable Castle, part of an integrated township, Golf Country, located at Yamuna Expressway, Greater Noida.
Track2Realty: Tata Housing has announced the outstanding over-subscription of its newly launched project – Gateway Capital, located at sector 112, Gurgaon. The company claims that for the first time in the history of Indian real estate industry, Tata Housing introduced a unique strategy of selling its units through an IPO-styled concept by floating a range of Basic Sales Price in the market, from Rs.9000 psf to Rs.11000 psf.
Track2Realty-Agencies: A builder who failed to start a Greater Noida residential project on time has landed in trouble as a consumer court in New Delhi has directed him to pay compensation of Rs.3 lakh and refund the over Rs.49 lakh cost of a flat to a complainant.
Track2Relty-Agencies: Dubai-based private developer DAMAC Properties has said it is launching phase two of a $1 billion project of luxury hotel and serviced residences to Indian investors, following a sell-out event in Dubai.