Track2Realty Exclusive: When Prahlad Patel went on a property hunt in the city of Vadodara, the broker had a curious look at his face. Under the impression that Patel is one among the many NRIs looking to invest in the city property with the fall in the Indian currency he thought it is his duty to narrate how the property market is just ripe to enter for sizeable return.
Track2Realty Exclusive: Statistics often only tell half the story and in real estate this old adage is all the more true as the figure are often not the facts and ground realities may juxtapose facts with figure. For instance, a perception is gaining ground that Mumbai property has reached beyond its saturation point and the standing inventory of 48 months is being cited as the evidence.
Track2Realty-Agencies: An FIR has been lodged against seven persons including real estate baron, Amrapali Group’s, Anil Kumar Sharma in Bihar’s Lakhisarai district in connection with the murder of a former secretary of an educational trust who was shot dead.
Track2Realty: The IT/ITeS sector continues to be a dominant growth driver for Bangalore, and some areas stand out from the rest as far as the impact of this sector is concerned. Whitefield in the eastern part of Bangalore is one such area. Whitefield was an early settlement in Bangalore and remained a quaint little suburb till the 2000s, when Bangalore’s IT boom reshaped Whitefield into a major suburb.
Track2Realty: The Grade A commercial office market in the Delhi National Capital Region (NCR) attracted an increase in demand for office space, with rental values rising across select established micro-markets during the quarter ended June 2014.
Track2Realty: Omaxe Limited has launched Omaxe Royal Residency – a futuristic residential apartment in the proposed approx. 50 acres mixed land use development project Omaxe City Centre, Sector 79, Faridabad. Sector 79 in Faridabad has been earmarked by the Haryana Government as a Commercial Business District (CBD). Spread over approx. 450 acres, this is one of India’s largest CBDs.
Track2Realty: Buyers remained cautious but searched well for aspirational homes. Developers remained restrained but projects reached completion stages as all segments of the market prepared for a growth phase in Indian property market, aligned to the political optimism in India.
Track2Realty Exclusive: Elections, real estate and black money have a symbiotic relation. Track2Realty tries to understand this unique and complex relation of the sector and the politicians where cash is king, yet they deny and dismiss it. The colour of currency may be projected as white in public posturing, the cycle of cash transaction with black money starts from entry level itself. Lack of transparency is what keeps the cycle moving.
Track2Realty: With the coming of the new government already having improved sentiments in the realty market, as a next step the sector expects India’s economic fundamentals to be tackled on a priority basis before any major changes may be anticipated at an industry-level. Infrastructure projects need to be implemented with a sense of urgency, and more income tax incentives for home loans have to be introduced before we can expect to see any significant impact on the real estate sector.
Track2Realty: Many developers are trying their best to create new zones and addresses across India that can appeal to HNI property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele.