The operational inexperience of the developers’ is also being sewn up through strategic tie-ups with the majors in the hotel industry. An improving economic scenario and demand for more hotel rooms across categories is persuading international hotel chains to sign new management contracts with Indian developers and property owners, according to analysts. The industry will witness the announcement of a number of new hotels in the year ahead.
Realty sector may appear to be bullish and project that downside is over with rosy forecast ahead, yet the decline in fortune is far from being over. As a matter of fact, the learning in the last four years has made most of the leading players to restructure their project portfolio and shed the flab.
Some developers believe in the age when everybody is constantly looking forward to upgrade, luxury residences should not be seen just in the premium super category. As a matter of fact, Purvankara has successfully initiated the concept of luxury affordable as well. According to him there is no dearth of buyers; rather the challenge is for the developers to execute a luxe living.
In India, considerable improvement has definitely taken place over the years with respect to the legal framework which encourages inflow of foreign capital. But, despite significant progress, issues such as liquidity and title ownership continue to act as constraints to cross-border investor activity, along with high transaction costs which have resulted in keeping direct investments at bay.
Does it reflect a disconnect in the luxury housing where demand of high-end units is 16% but supply is as high as 80%? “Not Really.” says Anmol Haval DGM, Sales & Marketing of City Corporation Limited (CCL) which has launched ‘Sweet Water Villas’, an exclusive project of limited edition villas at ‘Amanora’, the first integrated township being developed under the special township policy of Government of Maharashtra.
DLF and HUDA (Haryana Urban Development Authority) on Thursday, June 28, announced the commencement of work on the 8.3-km, 16-lane signal-free road being built at a cost of Rs 550 crore in the city.
DLF’s Chairman, K.P. Singh, has been conferred the “Indian Business Leader of the Year” award by Horasis: The Global Visions Community — an independent organisation that promotes sustainable future.
Godrej Properties has announced that it has partnered with Royal LePage to help Canadians and non-resident Indians (NRIs) invest in India’s growing real estate market.
Developers are outdoing each other in bringing the latest technology, and offering exclusive amenities and luxuries, not to mention the big-ticket designer names. Track2Realty finds the concept of luxury living is increasingly being redefined as the Indian real-estate market matures. There is no dearth of buyers either, provided luxury living is customised with buyers’ profile, taste, choice and needs.
The Nashik consumer court has ordered Dattatraya Kokate, Kishor Chopde and Arun Kapde of Bhagwati Constructions to prepare deeds of apartments in favour of five customers who had filed independent complaints in the court against the developer. Every customer also has to be given Rs 15,000 as compensation for mental harassment and Rs 1,000 to compensate for the court procedures.