Track2Realty Exclusive: Conceptually across the world integrated townships have gone beyond a well-planned housing complex that meets daily needs of its residents to a functioning city that aims at self reliance. The townships being built today have a balanced configuration of residential and commercial spaces intermingled with well-developed infrastructure and recreational amenities besides the green and open spaces.
Gaurav Gupta: I think you will have to take into account the historical background of real estate industry. All of us know historically real estate was never a professional industry in the country before FDI came in 2005. The industry was really fragmented and the industry was with small developers and it was more like a family business.
Track2Realty: TDI Infracorp has announced the launch of their project…
Track2Realty Exclusive: Integrated township in the Indian context is a baby that everyone was expecting with their own set of expectations. And hence, within a decade the term was so over-used that it lost its relevance. Any and every mixed land use was projected as an integrated township and it often lacked the basic DNA of affordability, convenience, lifestyle and walk-to-work. As a matter of fact, Trck2Realty noted township projects were also conceptualized by many as safe investments in India at a time when funds were on the look out to deploy and developers needed more projects in the kitty to bag that.
Track2Realty Exclusive: What Indian realty needs is holistic reforms and for that what is needed is change in mindset. We wonder why every person in office doesn’t realise that his indecisiveness hurts interest of the country. Why authorities are trying to take a pro-publicity and anti-development stand whereby nobody gains?
Track2Realty-Agencies: After making her foray into cricket with IPL Rajasthan team, Shilpa Shetty is once again entering a field dominated by men – real estate development. The actor has launched a company, Groupco Developers, in partnership with her friend and first generation entrepreneur Hem Tejuja, to develop housing projects in collaboration with land owners across the country.
I would like to ask the developer friends here when they say there is an ambiguity as far as ECB is concerned. Which are the funding routes that you find without ambiguity—whether it is private equity, QIP, IPO or any other route to raise money?
Gaurav Gupta: I would say there are multiple challenges for the sector.
Track2Realty: The NCR chapter of realtors’ body CREDAI said on Saturday, April 13, it will direct developers to disclose both saleable and carpet area in their brochure and is considering measures to regulate brokers who are engaged in mis-selling projects. It also claimed to put a check on the secondary sell by speculators.
Pranay Vakil: As a developer if someone wants to come and tell you Atul that instead of borrowing at 11.5 per cent or 12 per cent, whatever the rate lender gives you, you will get this money at 3 per cent, how do you react?
Ravi Sinha: But if we go by that yardstick, my question is that in the major real estate markets across India do we have that kind of projects where ECB would be viable?