The residential market in Mumbai witnessed subdued growth in the first half of 2012 in the back drop of high interest rates. While there was a decline in supply addition compared to the second half of 2011, the stock of unsold inventory increased during the review period. These are the findings of CBRE’s latest report titled “Market View India Residential.”
The Competition Commission of India (CCI) has closed the case against Taneja Developers and Infrastructure (TDI) related to allegations that the company was abusing its dominant position in the real estate segment in Mohali.
Bangalore’s luxury residential market seen a major transformation in the recent past, with the Kingfisher Tower setting a new capital values benchmark (northwards of Rs. 30,000/sq.ft) in the super luxury category. The new dynamics being seen now have been referred to as the ‘coming of age’ of Bangalore’s residential market, and I agree with this definition. We are certainly witnessing a remarkable maturing process here.
The recent decision by the Government to allow foreign direct investment in multi-brand retail is understandably the talk of the town. There are various points of view regarding the impact it will have on the retail sector in specific and the Indian economy in general, but the decision is a big step in the direction of strengthening organized retail in the country. To get the complete picture, it is important to understand the situation which exists currently and how the new regulations are going to change the retail landscape.
Jones Lang LaSalle has a new report, Redefining Retail Investment, to coincide with the International Council of Shopping Centers (ICSC) 2012 Retail Real Estate World Summit, taking place in Shanghai this week.
Hindustan Construction Company (HCC) today said it has bagged two major contracts worth Rs 1,534 crore in various business segments including one in Jammu & Kashmir for construction of a tunnel.
In a bid to check the mushrooming growth of slums in the state, the Odisha government is planning to create rental housing at an affordable monthly rent of up to Rs 2,000 for the poor.
DLF Chairman K P Singh has warned that the current policy paralysis has had an adverse impact on the country’s growth momentum denting business confidence, and could lead to its unique demographic dividend turning into a demographic nightmare.
Interest from international real estate investors in Indian real estate has been limited in 2012. India has witnessed 6% q-o-q growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%, however China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.