Track2Realty Exclusive: The opening up of retail in multi-brand and single brand is likely to push up the demand for more space throughout the country. On a rough estimate, this sub-segment needs, over the next few years, close to 20 million sq feet of space, which have to be built in accordance with the international standards.
Track2Realty Survey: 70 per cent of the Indians who have either bought a house or are planning to buy believe brand reputation only amounts to the developers’ past projects. More than that, 78 per cent maintain the track record of timely delivery of the project is the best way to judge the developers’ brand.
Track2Realty Exclusive: There is no clear-cut definition of the term ‘affordable’, as it is a relative concept and could have several indirect meanings in different contexts. In India, private developers primarily target luxury, high-end and upper-mid housing segment, since it fetches a premium over low income housing. This leads to a sustained supply for this segment, increasing market competitiveness for developers.
Track2Realty Exclusive: Realtors are also increasingly smarting to deal with the criticism as digital media is proving to be a deadly two-way weapon. Ravi Saund, COO of CHD Developers asserts it has not deterred them in any way; it has only helped in getting closer to the customer base and understand their needs and expectations from a developer in today’s market.
Track2Realty: Provident Housing Limited, a wholly-owned subsidiary of the Puravankara Projects Limited, is to launch ‘premium affordable’ homes in Coimbatore. The innovative residential project will be located at Selvapuram, Off Perur Main Road, near R S Puram, in the vicinity of the city center.
Track2Realty Exclusive: Administrative Reforms
A. Single window clearance for building approval.
B. Uniform and simplified building permissible rules.
C. No discretionary stoppage of work after granting approval for commencement without hearing by regulator/civil court.
D. Mindset reform; special campaign for political leaders and bureaucrats to support/accelerate growth, remove impediments.
E. To put mandatory block mentioning following in every order/permission, Date of application, Potential investment, Potential contribution to GDP in rupees, Potential new employment generation, Date of sanction, Number of days delay beyond permissible limit, reasons.
Track2Realty Exclusive: What is the level of understanding and willingness among the Indian developers to create smart cities in a country which has been branded as a ‘reluctant urbaniser’ by many international experts?
Track2Realty: Though the opening of the Indian retail sector to foreign direct investments may have brought cheers to the commercial real estate sector in the country, it is expected that the supply of distressed properties within the commercial segment will increase during the second quarter of 2013, according to the RICS India Commercial Property Survey Q1 2013.
Track2Realty Exclusive: Developers have also been trying to get the government to introduce the concept of single window clearance. It is common knowledge that time taken to grant approvals directly affects property prices. It has been found that delays in approval processes alone increase sale value of houses by 40%.
Track2Realty: Oberoi Realty has announced its results for the fourth quarter of FY13 and full year FY13. The Company has recorded Consolidated Revenue of Rs. 1,147.52 crore for FY13 as against Rs. 974.79 crore for FY12. The Consolidated Revenue is Rs. 325.99 crore for Q4FY13 as against Rs. 308.03 crore for Q3FY13 and Rs. 285.50 crore for Q4FY12.