Track2Realty Exclusive: If you want to know how the growth of the real estate can make a city bi-functional, visit Gobichettipalayam (also known as Gobi). It is a town and municipality in Tamil Nadu which happens to be the second largest city and urban agglomeration in Erode district and is the administrative headquarters of Gobichettipalayam taluka, revenue and educational districts.
Track2Realty Exclusive: Home buyers across the country find the reports of price appreciation a manipulative marketing myth. They blame a strong cartel of brokers/underwriters responsible for artificial appreciation which does not have any market logic. What comes as a bad news for the developers and promises to redefine the market dynamics of the real estate is the fact that buyers’ awareness has caught on the market manipulation that appreciates property prices unreasonably. It also indicates the marketing strategy of the realty companies is not grounded while operating in an eco system of brokers/underwriters to absorb the artificial appreciation.
Track2Realty-Agencies: Pune-based real estate developer Kolte-Patil Developers has acquired a 30 acre land parcel at Kondhwa in Pune along with ASK Real Estate Special Opportunities Fund for Rs 160 crore. The Company will develop a residential housing project on the said land parcel. This land parcel is located within Pune city limits, in Katraj-Kondhwa area of South Pune.
Track2Realty: Prime office space absorption in the Delhi National Capital…
Track2Realty: The slowdown in the Indian economy continued as the Reserve Bank of India revised the real GDP growth rate forecast for 2013-14 downwards to 5.0% from 5.7%. Economic slowdown has had an impact on the end user sentiments that has impacted the absorption of residential units ultimately leading to a slowdown in the values.
Track2Realty: With economy witnessing a downturn, interest rates and inflation reaching all-time highs, 2013 has been one of the most eventful years for Real Estate in India. While introduction of Real Estate Regulatory Bill and Land Acquisitions Bills in the Parliament was positive for the real estate industry, end users sitting on the fence expecting a fall in prices lead to a contraction of demand in the past few quarters.
Track2Realty Exclusive: The Coimbatore real estate has by and large outperformed the rest of the country. This better-than-national average performance during the year 2013 has been remarkable at a time when some of the matured property markets were witness to sales plummeting with stress both at the buyers’ as well as developers’ level.
Track2Realty: Total net office space absorption recorded a 25% decline in across top eight cities over last year. According to the annual year end estimations by Cushman & Wakefield the total net absorption for 2013 was recorded at 23 million square feet (msf). Most cities have witnessed a decline in net absorption in the range of 20-40% during the year, except Pune where incremental new space take-up increased by 15% in 2013.
Track2Realty Exclusive: When a developer few years back launched a 5 acre project in Coimbatore dedicated to the senior living, it raised quite many eye brows. Everyone was wondering whether there is a market for such a project, exclusively conceptualised for the senior citizens. Critics even had it that the project is ahead of its time and some termed it as a project meant for parking the investment.
Track2Realty: India’s hospitality real estate space has probably come of age; and has reached a critical threshold in its learning as well as business development curves. Although the ongoing economic slowdown and uncertainty have caused hotel rates to decrease marginally in the last couple of years, India now stands at the cusp of a hotel building and rebranding boom, which should help keep rates competitive in 2013.