Track2Realty: The government’s announcement of easier FDI norms for the construction sector has generated a lot of excitement among the country’s real estate players – and justifiably so. The fact that 100% FDI will now be allowed under automatic route to invest in completed assets along with relaxation of other norms is expected to increase FDI inflows significantly.
Track2Realty-Agencies: The Central Board of Direct Taxes (CBDT) has ordered an Income Tax department investigation against a number of real estate developers who were recently shown by an investigative portal to be willing to accept alleged black money in property transactions.
Track2Realty: The Indian monsoon months are synonymous with low activity in real estate, but this year witnessed considerable amount of activity in the office sector. Compared with last year’s monsoon months of July, August and September (3Q CY 2013), this period in 2014 showed 58% growth in office space demand.
Track2Realty: India’s economic growth accelerated to 5.7 per cent in the April–June quarter, a figure that is much better than the 4.7 per cent in the same quarter of the previous fiscal year. According to various international agencies like International Monetary Fund (IMF), Asian Development Bank and Moody, 2014 is expected to record an economic growth of 5.2% to 5.6% in 2014.
Track2Realty: Net office uptake in the first three quarters (Jan – Sept) of 2014 has seen a significant rise of 36% as compared to same time last year. Total net absorption of office space has been recorded at approximately 24 million square feet (msf) between January – September in 2014 as against the 17.7 msf in same time in 2013, says Cushman & Wakefield in a report.
Track2Realty Exclusive: While the real estate market in the metro cities have been flirting around with the NRIs to woo them with big-ticket investments, the discerning expat Indians had some other ideas. The destination to those desirable ideas was definitely not leading them to metro cities. So, at a time when the spate of luxury and super luxury launches were put on offer, the match makers of pricey dollars preferred to court the humble markets where the modest rupee was well grounded not to flaunt with pomp and show.
Track2Realty: With BJP controlling the Centre and the two biggest real estate markets in India – Mumbai and Gurgaon – the government has to focus on 3 I’s – Infrastructure, Interest reduction and Income generation. With the BJP’s remarkable show in Maharashtra, the state will give a new lease of life to its infrastructure projects across all sectors.
Track2Realty: The West Bangalore sub-market covers the areas and projects around Tumkur Road NH-4 towards the Yeshwanthpur and Malleswaram junction, the Rajajinagar Industrial Area, Yeshwantpur, and Tumkur Road and its surroundings (which has a high-density population and has traditionally been the primary industrial hub of the city).
Track2Realty: Over the past couple of months, no other Indian state has been talked about as much in the Indian media as Gujarat. Be it about Narendra Modi, former Chief Minister of Gujarat who is now Prime Minister of the nation or the growth model of the state.
Track2Realty: The home buyers expect real estate prices to rise over the next six month, says the Housing Sentiment Index (IIMB-MB-HSI) by IIM Bangalore and Magicbricks. It forecasts the trend across 9 of the 10 cities surveyed.