The Indian real estate developers are going over-board in capturing the fantasy of the rich Indians who are also expat professionals. But they seem to have gone completely off target when understanding the long-term housing needs of these Non Resident Indians (NRIs).
Joyville – Hinjewadi spread over 8 acres of land would be home to over 1000 families. The development offers different unit configurations namely 1 RHK to 2 RHK units. The project boasts of 75 % open space with more than 25 playful activities which would lend itself very well to lots of fun and fulfilling experience for one and all residents.
Sowparnika Projects & Infrastructure introduces ‘Positive Homes’ a unique proposition designed and developed based on new age customers demand. Positive Homes comes with uncompromising features and fixtures and price that is unheard of, all-inclusive price of around INR 10 lakhs for a Studio.
Competing against DLF, the company won the auction and soon made plans to construct a grant 18-hole golf course surrounded by luxury apartments and villas, to be marketed as the plush “Unitech Golf and Country Club”. Flashy advertisements were immediately published and huge booking amounts were collected from aspiring buyers who looking forward to their dream homes in the project.
Full adoption of blockchain technology in Indian real estate may appear a remote possibility, however, low transparency provides an incentive for adoption of blockchain rather than an obstacle; and we see several near-term applications for the technology.
Till a decade back such was the mad rush for raising money in the capital market that even the real estate companies with limited presence in select micro markets started launching projects across the country to showcase a pan-India presence. Significant increase in housing demand, organized retailing and liquidity boom from 2003 to 2008, led to huge increase in land prices and real estate values and most real estate companies had a great run.
PNC Menon joins at Rashid Centre other prominent officials and business leaders in Dubai, including Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and CEO and chairman of the Emirates Group.
This may not be music to the ears of the developers who are hoping against the hope that the recent policy changes & reforms would bring the homebuyers back to the market. But the ground reality is that for a vast majority of the Indian homebuyers the measures like demonetization, GST, RERA or Benami Transaction Act are more for academic discussions than making any tangible changes for them on ground.
The first quarter of 2018 has started on a positive note with a 23% YoY increase in the gross office take-up in India. As per Colliers International, approximately 11.4 million sq ft (1.02 million sq m) of gross absorption was recorded in Q1 2018.
The choice of high profile NRIs in terms of real estate investment is more of emotional urge to come back to the hometown than the locations that are attractive as job magnets. No wonder, more than three-fourth of NRIs, as many as 78 per cent, wish to invest in their hometown.