Track2Realty Exclusive: The Indian real sector has evoked mixed response to the Union Budget 2013-14, though by and large there is optimism within the sector. Here are some of the responses—
Track2Realty: India faces shortage of fresh supply of houses, the Technical Group on the Estimation of Housing Shortage projects the total shortage of dwelling units in urban areas in 2012 to be 18.78 million, said a report by Knight Frank Research.
Track2Realty: Godrej Properties has launched its commercial development, Godrej BKC. Godrej BKC occupies a corner plot in the middle of India’s most prestigious and desirable commercial address, the Bandra-Kurla Complex.
Track2Realty: Tata Housing has launched the second phase of its luxury residential development – Amantra. Amantra – Phase II comprises of 565, two and three BHK units, starting at Rs. 5800/- per square feet.
Track2Realty-Agencies: Housing prices have risen in 18 major cities, including Delhi and Mumbai, by up to 9.6 per cent during the October-December period 2012 compared with the previous quarter, according to National Housing Bank (NHB).
Track2Realty-Agencies: Sudhakar Shetty-promoted real estate company Sahana Group is set to foray into television media segment with two news channels.
Track2Realty: The real estate sector has welcomed the Union Housing Minister Ajay Maken’s move to accord infrastructure status to affordable housing on expected lines. The industry body CREDAI has nevertheless called for extending similar treatment to the entire housing sector again on expected lines. However, the market dynamics defy any dreams of mass housing or cheap housing even for the economically weaker sections.
Track2Realty Exclusive: Vidya Basarkod, President, Sales and Marketing, Jaypee Greens believes though the Indian economy has gone through turbulent phase of slowdown, demand for housing has kept the momentum for residential real estate. In an exclusive interview with Track2Realty she asserts though liquidity has been a concern for both the buyers as well as developers, there are more pressing issues hampering the growth of the sector, like delays in approvals, infrastructure bottlenecks and skilled manpower.
Track2Realty Exclusive: Come budget and the real estate in the last few years seems to have been repeating the rhetoric of industry status. As a result, year after year it has been a case of realty proposes and the Finance Minister disposes. However, the sector on the eve of 2013-14 makes a strategic shift to be more realistic with its causes and concerns.
Track2Realty-Agencies: After fashion weeks and wedding exhibitions, India is now set to welcome a first-of-its-kind Real Estate Luxury Show (RLS India 2013), which will serve as a platform for showcasing the properties of the country’s real estate giants.