Track2Realty Exclusive: Analysis of East Zone
The transaction activity registered in Kolkata in 2012 was down by 42% during Q1-Q3 2012 compared to the year ago period. The subdued demand is the result of the uncertainty prevailing in both the global as well as domestic markets. Most of the corporates have trimmed their expansion plans and instead looking at consolidation to optimize their real estate usage and bring down the costs.
Track2Realty Exclusive: Moderation in new supply brought the vacancy down
During 2012, the new supply dropped by a whopping 40% y-o-y to 18 million sq ft, as across many cities, the slow adjustment of supply with the changing demand patterns took effect. Bangalore was the only exception to this, where the new supply rose by a whopping 35% y-o-y, as a number of developments which had been fast tracked in response to the sharp recovery in demand in the city since 2010, got completed during the period.
Track2Realty-Agencies: CCI’s decision to modify realty major DLF’s apartment buyers agreement in relation to a case involving Rs 630 crore penalty on the firm has sparked a debate about the fair-trade regulator’s jurisdiction and other matters concerning the real estate sector.
Track2Realty-Agencies: DLF has filed for five patents for inventions that relate to fire safety of its buildings. The company has installed these systems in its commercial buildings, comprising 30 million sq ft, across the country and would do so in future projects as well.
In the country’s commercial capital, Mumbai, over a dozen large developers and double their number of smaller ones are selling office properties as well, according to Ashok Kumar, Principal and Managing Director of Cresa Partners, a corporate realty services firm.
Punjab’s first planned eco city, christened New Chandigarh by the State Government, has started to buzz with the major real estate developers and housing societies.
The Indian real estate market has matured to the extent that it is seen as the best investment instrument, leaving behind gold and other traditional investment options.
A new next-generation member from its founding family has joined the country’s largest real estate group DLF, but Rahul Talwar, a grandson of chairman KP Singh, would begin his journey as a ‘trainee’.
Shares of DLF rose six per cent in Monday’s trading on expectations the company’s debt reduction strategy was falling in place, said analysts tracking the stock.
Confederation of Real Estate Developers’ Associations (CREDAI) Tamil Nadu unit has said that enquires for commercial real estate property has picked up in the last couple of months following decent growth in the IT industry.