Ravi Sinha: Even in the Indian context, if you look at the places like Gurgaon. Had there been no infrastructure no one would be living over there and that is how NCR has evolved as a case study in satellite towns. But the disconnect is with the funding.
Pranay Vakil: Good afternoon everyone. We are indeed sitting in one of the most interesting market of real estate when I feel the developer is confused, the buyer is confused and the government is confused.
Jhumur Ghosh: The most confused.
Pranay Vakil: You said it, I didn’t. The buyer is confused because every day he is reading in the newspapers that prices are going down, but when he goes out to buy a house he finds that prices have actually gone up. I think the lender is confused because he is lending money and the developer is making all kinds of commitment and things are not working out the way it was promised and he is unable to understand why it is not happening.
Track2Realty Exclusive: The Knight Frank Research finds overall fall in office absorption when compared to the corresponding quarter last. Approximately 1.35mn.sq.ft was transacted in Q3 FY 13, showing a 39% fall compared to the same quarter last year and 4% compared to the preceding quarter.
Track2Realty Exclusive: Direct investment in case of leveraged returns has to take into account carrying cost (interest cost) and in case of non leveraged returns should consider opportunity cost.
Track2Realty: Godrej Properties will develop a residential housing project at Undri (near NIBM) in Pune. The project, spread over 31 acres, will offer approximately 1.5 mn sq. ft of saleable area and will comprise of 1, 2 and 3 BHK apartments.
Track2Realty: Godrej Properties has through its wholly owned subsidiary, Godrej Redevelopers Mumbai Pvt. Ltd. (GRMPL), entered into a development agreement with the Sahakar Nagar Vibhag- II Federation, to undertake a residential redevelopment project, of 200 tenements, in Sahakar Nagar – II, Chembur, Mumbai.
Track2Realty: A reported provision in the proposed law to regulate the real estate sector to send individual or an entity to jail for “misleading” advertisements would be quite a retrograde and adversarial step for investment in the realty sector as it would be open to misuse by a few corrupt officials, ASSOCHAM said on Friday, March 29.
Track2Realty Exclusive: Consultancy firm DTZ India believes with abundant quality supply scheduled in next 2-3 years and fast paced development of infrastructure, Golf Course Extension Road in Gurgaon and Greater Noida Expressway are the emerging markets for office space.
Track2Realty Exclusive: It has been whispered in the real estate circle for quite some time, something that made the Delhi-NCR developers of office space smiling and their Mumbai counterparts worried. Amidst these MNCs and corporate looking forward to set-up their offices in India were wondering whether to go with the conventional wisdom of opting for the financial market of India or innovate with the new emerging financial centres in Delhi-NCR in general and Gurgaon in particular.
Track2Realty Exclusive: “Revival is too strong a statement in today’s market,” says Anshuman Magazine, CMD of CBRE South Asia, adding that any upward movement is a healthy sign when it was expected to be stagnant not very long ago. The assessment of Magazine may be a generic overview of the realty market across the country, but when it comes to the Delhi-NCR real estate, it sounds like at prophetic statement.