Track2Realty: Amidst a global economic slowdown as a consequence of the US fiscal cliff and Eurozone debt crisis, India’s growth forecasts too have been revised downward over the last three quarters of the year. Even in 2013, it is unlikely that we will see a spurt in growth given the existing inflationary pressures and large fiscal deficit which could adversely impact the scope for policy stimulus in the country.
Track2Realty Exclusive-Yearly Analysis: The unprecedented restructuring of project portfolio, selling of land bank, exiting non-core business and the job cuts have yet not led the Indian real estate into the desired comfort zone. The realization to shed the flab has on the contrary left some of the developers to outsource the project execution and pay more.
Track2Realty Exclusive Yearly Analysis: Real estate prices have stayed stagnant in 2012 in Mumbai with a mere 0.3 per cent increase in rates, a research report by Knight Frank says. Figure show that real estate sales have been falling by around 25 per cent year after year since 2010 because of high prices.
Track2Realty-Agencies: The government is likely to come up with a Bill in the forthcoming Budget Session of the Parliament to regulate the real estate sector, Housing Minister Ajay Maken said on Wednesday, Dec 9.
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: The year 2012 witnessed subdued interest in real estate due to inflationary pressures and rising interest rates in the country, coupled with the on-going economic crisis in the Eurozone and US.
Track2Realty: The Competition Commission of India (CCI) has modified the agreement between DLF group and apartment owners in its two projects in Gurgaon for abuse of dominance, sending a strong message to realtors indulging in such practices.
Track2Realty Exclusive Yearly Analysis: Residential real estate is defying the conventional wisdom of economics where a constant price hike is not benefitting the real estate companies either. Track2Realty finds with pressure on both the demand and supply side, residential real estate has gone into a vicious cycle of ever increasing cost, falling demand, liquidity crunch and last, but not the least, delay in approvals adding to the woes of the developers.
Track2Realty-Agencies: Competition Commission of India (CCI) is working on a model framework for commercial agreements between real estate developer and the property buyer, which it expects to serve as a benchmark for the industry.
Track2Realty: Opposing the Maharashtra government’s decision to hike stamp duty and other taxes related to property, CREDAI has cautioned against capital flight from the State to neighbouring Gujarat and even to Jakarta.