Track2Realty-Agencies: The Supreme Court on Wednesday, Aug 27, ordered DLF to deposit Rs 630 crore in 3 months as a pre-condition for entertaining its appeal against the Competition Appellate Tribunal (COMPAT) decision upholding a Competition Commission’s order imposing the hefty penalty.
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.
Track2Realty: The overall mall vacancy levels across the top eight India cities remained stagnant at 14.47% in Q2 2014, which was recorded around 0.4 percentage points lower compared to Q1 2014. Amongst the top eight cities, Pune witnessed sharpest decline of 2.5 percentage points due to healthy leasing activity and no new mall supply. These are the findings of Cushman & Wakefield latest report.
Track2Realty: Sotheby’s International Realty Affiliates LLC has signed an exclusive agreement to develop the Sotheby’s International Realty brand in India with the opening of North India Sotheby’s International Realty.
Track2Realty Exclusive: The imprint in the minds of collective consciousness is about affordable market when it comes to Noida; the reality is increasingly getting different from perception. It is no more about affordable housing that defines Noida, nor is it about small industrial clusters; the multinationals and other big ticket corporate houses are increasingly rewriting the market dynamics of Noida.
Track2Realty Exclusive: It was only a few years back that when a couple of high-end luxury projects were launched in Pune analysts were busy with the cost-benefit analysis of the splurge in the market. The rising interest of NRIs, HNIs and even global realty baron soon made everyone realise that Pune has already made its presence on the luxury landscape of India.
Track2Realty Exclusive: Real estate development along highways and expressways is an established reality of India’s urban growth, yet a few have been trend setters. These are the territories which have been investment magnet much before being fully developed. National Highway 24, popularly known as NH 24 that connects the national capital Delhi to Uttar Pradesh capital Lucknow running 438 kilo meter in length is one such highway which is being seen as the new growth corridor of north India in general and Delhi-NCR in particular.
Track2Realty: Omaxe Limited has launched Omaxe Royal Residency – a futuristic residential apartment in the proposed approx. 50 acres mixed land use development project Omaxe City Centre, Sector 79, Faridabad. Sector 79 in Faridabad has been earmarked by the Haryana Government as a Commercial Business District (CBD). Spread over approx. 450 acres, this is one of India’s largest CBDs.
Track2Realty: Buyers remained cautious but searched well for aspirational homes. Developers remained restrained but projects reached completion stages as all segments of the market prepared for a growth phase in Indian property market, aligned to the political optimism in India.
Track2Realty: With the coming of the new government already having improved sentiments in the realty market, as a next step the sector expects India’s economic fundamentals to be tackled on a priority basis before any major changes may be anticipated at an industry-level. Infrastructure projects need to be implemented with a sense of urgency, and more income tax incentives for home loans have to be introduced before we can expect to see any significant impact on the real estate sector.