Track2Realty: A three-acre plot in Andheri owned by Nycomed Pharma has been sold for around Rs 205 crore, or Rs 65 crore an acre. Mahindra Lifespaces, part of the Mahindra Group, has purchased the 12,000-sq m plot that currently houses a bungalow, two guest houses, a research and development facility and an electric sub-station.
Track2Realty: Homestead, the London-based real estate company announced the launch of Michael Schumacher World Tower in Sector 109, Gurgaon. Spread over approximately 5 acres, this project will consist of 28 high rise floors and offer about 100 homes. Customers can choose from a range of sizes done in the most tasteful manner. These homes have high efficiency in terms of areas offered and have the best specifications offered till date.
Track2Realty-Agencies: Robert Vadra was on Friday, Oct 26, given a clean chit by the Haryana government in the controversial land deals involving him in the state after an official probe concluded that there was no “undervaluation” or loss of revenue to the government.
Track2Realty: Office space absorption witnessed a 14% q-o-q decline during the 3rd quarter of 2012, according to the findings of CBRE’s latest report, India Office Market View Q3, 2012. Prime office space absorption across the 7 key cities reviewed decreased to about 6 million sq ft in the third quarter, compared to more than 7 million sq ft in the previous quarter.
Track2Realty-Agencies: The Union Cabinet on today, Oct 25, is likely to discuss the bill to regulate the real estate sector and also protect the interests of home buyers.
Track2Realty: Raising alarm over Mumbai and Maharashtra becoming increasingly “investor unfriendly”, developers apex body CREDAI has said the State Government’s policies will end up being its gift to Gujarat’s upcoming Gift City.
Track2Realty Exclusive: Young professionals in metro cities are no longer the demand drivers of residential property. More than half of them, as many as 57%, say they would prefer to stay in rented apartment and instead invest in their tier-II and tier III city home town for better appreciation potential. 78% of those working professionals with double-income who have bought a house in metro now want to invest in their home town for second home.
Track2Realty: After 17 long year with Knight Frank, Pranay Vakil has decided to retire. The Indian business has gone from strength to strength under his leadership, increasing employee numbers from an initial 10 to over 800 and opening 7 offices across the Country and with more planned.
Track2Realty: Mumbai region has seen prices appreciate by double digit percentages over the last two years. It is interesting to note that some areas have witnessed over 50% price rise when we compare per square feet prices (PQSF) of Q3-12 (Jul-Aug-Sep) over Q3-10(Jul-Aug-Sep). This clearly reflects that capital values in and around Mumbai region has been continuously moving at a steady pace year on year, says a report by property portal 99 acres.com.
Track2Realty Exclusive: Group buying is emerging as a win-win situation for both the buyers and the developers.Track2Realty talks to all the concerned parties in the deal to find that while it saves the marketing cost of the developers and increases the bargain of the buyers, in no way it cuts the role of the intermediaries as well, thus making it the most lucrative marketing model for all in the future.