Track2Realty-Agencies: Two more entities have received market regulator SEBI’s approval to set-up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds.
Track2Realty-Agencies: Ironic it may sound, but the developers are getting hurt by allegations of corruption in the realty sector. Confederation of Real Estate Developers’ Association of India (CREDAI) has asked its about 10,000 members not to pay bribe to officials for getting project clearance.
Track2Realty: Cushman & Wakefield estimates commercial office space demand of over 180 million square feet (msf) in the next five years (2012 – 16) in the top 8 cities of the country. This was released in the annual publication entitled “Evolving Paradigm – Future of Indian Real Estate” in association with Global Real Estate Institute (GRI) at their India Summit 2012. The report also estimates the total expected supply for the next five years in these eight cities as 219. 6 million sqft, basis announced projects and current pace of construction; indicating a condition of excess supply in the coming few years.
Track2Realty: The total new demand that could be generated for residential dwellings in the period 2012 – 16 will be 11.8 million units across India, says a new report by Cushman & Wakefield. Of the total additional demand, the top 8 cities will be constituting 18% or 2.1 million units across categories. The annual report “Evolving Paradigm – Future Of Indian Real Estate” is in association with Global Real Estate Institute (GRI).
Track2Realty-Agencies: India has launched an ambitious Rs 1,300 crore housing project in northern Sri Lanka to build brand new homes for about 43,000 ethnic Tamil families displaced due to the civil war in the country.
Track2Realty: Lack of infrastructure in Ghaziabad has forced common residents to file PIL against new housing projects. Residents of a housing society in Ghaziabad have approached the Allahabad High Court seeking a clampdown on the Ghaziabad Development Authority (GDA) from approving any new residential project till civic infrastructure works in the city are upgraded to meet the requirements of the population.
Track2Realty-Agencies: The government should take steps to monetize under-utilized land resources of public sector enterprises, port trusts and railways, a panel set up to chart out the roadmap on fiscal consolidation has recommended.
Track2Governance-Agencies: The Enforcement Directorate (ED) has attached properties owned by Emaar MGF, the builder of Commonwealth Games Village in Delhi and several projects in Hyderabad, for alleged violation of Prevention of Money Laundering Act.
Track2Realty: In most Indian metros, people have reached a point where the word “nature” has become a distant dream which they hope to enjoy on a vacation. All they get to see are tall scrapers coupled with a massive amount of pollution. Children in these cities do not know what it means to wake up to the chirping of birds, or even the view of sunrise. Most of India experiences such encounters with nature. However, people in metro cities are missing out on this special experience.
Track2Realty-CRIENGLISH: In a country where majority of the people do not have decent homes and the volume of sales of housing units in Indian markets is under pressure,a growing number of Indians are keen to buy homes abroad, particularly in the United Kingdom.