The concept of international, standardized luxury floor space must evolve further before India can absorb the demand. Developers must come up with more imaginative ideas of differentiating their luxury malls from the run-of-the-mill.
Global commercial real estate firm Jones Lang LaSalle has announced the firm is donating 100 million yen (approximately $1.25 million) to the Japanese Red Cross to provide aid and relief directly to those most in need following the Japan earthquake and Pacific Tsunami that have left a path of destruction in their wake.
With government support and increase in number of real estate developers, affordable housing demand will surge at a CAGR of around 13% during 2011-2013, says a research report by RNCOS a thinktank group on industry intelligence and creative solutions for contemporary business segments.
Sadiq Batcha, a longtime friend and associate of A Raja and managing director of a real estate company, Green House Promoters, in which Raja’s wife Parameswari was associated as one of the directors and later resigned, has been found dead.
China’s central government wants to weaken the industry’s vice-like grip on the political system as a means to avoid a Jasmine-type revolt.
Real estate and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.
Buying land can be a time-consuming and expensive affair. Not only can the initial phase of buying it be quite complicated, but the cost involved in maintaining a purchased plot can also be quite high.
Chinese officials are blaming the speculators for soaring property prices and have announced to build 36 million affordable homes over the next five years.
Infrastructure plays key role in economic development of the country and, in India, it has being increasingly recognized that Infrastructure development is inevitable for a sustained high growth rate in GDP. It has been recognized that there is a significant deficit in the availability of physical infrastructure across different sectors in the country, hindering economic development.
Minister of Housing and Urban Poverty Alleviation Kumari Selja said in the Rajya Sabha the Real Estate (Regulation of Development) Bill is still being deliberated.