Track2Realty-Agencies: Foreign investors are being cautious about the Indian real estate market because it fails to meet the global standards, says Sean Tompkins, global Chief Executive Officer of UK-based Royal Institution of Chartered Surveyors (RICS).
Track2Realty-Agencies: The country’s higher education sector will create real estate demand of around 900 million sq ft by 2020 to maintain the current gross student enrolment ratio of 12 per cent, according to a report by DTZ.
Track2Realty-Agencies: Indiabulls Real Estate has opened its first overseas office in the UAE. Located in Dubai, the local representative office will cater to the rising interest and demands of the UAE-based NRIs in company’s projects across India and expand its regional reach, the company said in a statement.
Track2Realty Exclusive: According to a recent data, there are over 100 million unsold inventories in the market and the developers are waiting to liquidate them. No wonder, it is attracting the brokers into group buying options. Property broker Agni Properties also added group buying to its portfolio in July 2011.
Track2Realty: The real estate sector will continue to remain an attractive investment destination with the possibility of prices in residential areas appreciating by 91 to 145 percent in select cities over the next five years, a survey released on Tuesday, Nov 20, said.
Track2Realty: Dismissing the proposed RERA (Real Estate Regulatory Act) as anti-people, developers’ apex body said the sweeping powers sought to be vested with the Regulatory authority will only increase corruption by manifold, instead of checking the social malady.
Track2Realty Exclusive: Some property analysts have been critical about such group-buying websites, stating that they have an unsustainable business model. “Considering the nature of the Indian realty sector, which had tainted its image in numerous corruption scandals—and the rising interest rate regime, which has kept consumers away from buying such properties, such sites are expected to generate very little offtake from a consumer. Again, a prospective costumer may get some deals and discounts through one-on-one direct physical negotiations as well,” says Kamal Kapoor, a property advisor.
Track2Realty: In the annual report by global real estate consultants Cushman & Wakefield, “Main Streets across the world”, Mumbai witnessed the highest rental growth globally. Colaba Causeway in Mumbai recorded a rental increase of 75% over last year, on the back of strong retailer demand and continuous preference for prime high street properties in the city. Kolkata – Park Street (5th) at 53.8% and Chennai – Khader Niwaz Khan Road (10th) at 36.7% were among the global top ten cities to register highest annual rental growth.
Track2Realty: Despite aggressive marketing and great offers made by developers on the eve of Diwali festival, the investment in the property have remained lukewarm due to high prices of houses in and around the NCR region. Major factors cited have been high prices of land and the unprecedented rise in the cost of construction materials, iron, cement, labour etc., says the ASSOCHAM survey.
Track2Realty: The Punjab Deputy Chief Minister Sukhbir Singh Badal showcased on Saturday, Nov 17, prime urban land under the possession of Punjab Government to 137 international and national Real Estate Developers, who assembled in Mumbai under the aegis of Confederation of Real Estate Developers’ Association of India (CREDAI) in a convention organized by them, Punjab land of opportunities.