Developers have their own expectations, because positive announcements for real estate buyers made during the budget will help increase the market sentiment, and therefore sales. The general hope is that the budget will provide cheer to intending homebuyers who have been deterred for various reasons.
Browsing: Advocacy
All over the world, cities are facing the challenge of uncontrolled urbanisation. According to the United Nations, 54% of the population across the world today resides in urban areas, and that this figure will rise to 66% by 2050. An accompanying fact is that urbanization is happening too fast, and without adequate foresight and planning.
Viewed dispassionately, the current government’s ‘Housing for all by 2022’ promise seems a bit unrealistic at the moment, as the modalities and concrete steps needed to be undertaken to achieve this goal have not been spelled out. Making 2 crore urban houses and 4 crore rural houses available is a huge undertaking in itself, and will require not only sustained government interest and investment but also substantial private sector investment and involvement.
Track2Realty: Abroad, a new trend of evaluating neighbourhoods by their ‘walk score’ is being seen among home buyers. The idea behind this is simple, and in fact the very basis of that favourite real estate mantra ‘location, location, location.’ And it has great pertinence for the Pune real estate market, as well.
Track2Realty: Real estate stakeholders in every Indian city are looking forward to the upcoming financial budget 2015 to see whether it will provide any relief to the sector. Developers have their own expectations, because positive announcements for real estate buyers made during the budget will help increase the market sentiment, and therefore sales. The general hope is that the budget will provide cheer to intending home buyers who have been deterred for various reasons.
Track2Realty: As we move closer to the Union Budget 2015–16, India’s real estate sector is hoping for certain key expectations to get implemented. Following the Government’s announcements of building SMART Cities in the Budget last year, the industry seeks more clarity on the exact definition of one in the Indian context, fund allocations for, and city/Greenfield location identification of such development. The implementation of such ambitions would ultimately result in national wealth creation—to help our cities become sustainable and livable urban centers of growth.
Track2Realty: Redevelopment is not a new phenomenon in Mumbai. Various parts of the city have being seeing redevelopment in pockets for many years as the city planning authorities strive to accelerate urban renewal and improve the quality of real estate and infrastructure, and developers strive to make a profit. The redevelopment process happens against a backdrop of the city’s fast-growing population and the rising demand for space amid limited availability of developable land.
Track2Realty: In a market still defined by significant lack of transparency, real estate consultancies play a complex and responsibility-driven role in all real estate transactions, especially in the case of high-value property assets. In large ticket sized transactions such as those involved in Grade A office spaces, there can be no margin for error. Transparency, ethics and accurate market information play an inalienable role in closing such deals.
Track2Realty Exclusive: The real estate sector is of strategic economic importance to India, as it is the second largest employment generator after agriculture and contributes about six per cent to India’s GDP. The sector with its backward and forward linkages to 250 ancillary industries has the potential to generate significant employment opportunities and provide a quantum jump to the Indian economy. Accelerating the growth in the sector can help turn-around the sluggish GDP growth witnessed in the last few years.
Track2Realty: The government’s announcement of easier FDI norms for the construction sector has generated a lot of excitement among the country’s real estate players – and justifiably so. The fact that 100% FDI will now be allowed under automatic route to invest in completed assets along with relaxation of other norms is expected to increase FDI inflows significantly.