Track2Realty: Raising an alarm against rampant unauthorized construction in Raigad district, developers’ body MCHI-CREDAI’s unit has appealed to the authorities to take immediate action against errant people and save gullible home buyers from falling into a trap.
Track2Realty: The demand for office space is likely to increase to 30.5 million sq ft this year, global real estate advisor DTZ said.
Pranay Vakil: Good afternoon everyone. We are indeed sitting in one of the most interesting market of real estate when I feel the developer is confused, the buyer is confused and the government is confused.
Jhumur Ghosh: The most confused.
Pranay Vakil: You said it, I didn’t. The buyer is confused because every day he is reading in the newspapers that prices are going down, but when he goes out to buy a house he finds that prices have actually gone up. I think the lender is confused because he is lending money and the developer is making all kinds of commitment and things are not working out the way it was promised and he is unable to understand why it is not happening.
Track2Realty: The newly elected leadership of realtors apex body CREDAI has embarked on a multi-pronged agenda to work closely with the various governments with focus on affordable housing, green buildings and water harvesting and skill development among construction workers.
Track2Realty-Agencies: While the promoters of realty firms in India are wary of selling stake and instead choosing institutional placement programme (IPP) over share auction to bring down holding to comply with regulatory norms, Bangalore-based Puravankara Projects has also plans to raise around Rs 450 through IPP route.
Track2Realty Exclusive: Compared to other countries in Asia, India still lags behind on the transparency parameter. But we are increasingly scaling up with the data availability for the retail and residential sectors improving across all tiers led by the fast-paced development of the residential sector and modern retail formats.
Ravi Sinha: In 2013 when most of the PE Funds are maturing, they may not be investing again in the real estate. So, from where will you generate the funds?
Ravi Sinha: I have a question here, and I will be very frank with Mr Tripathi. Any journalist who writes on real estate finds it very amusing that the sector has always tried to put the ball in the government’s court. Since you have been part of the government, how far will you agree to this?
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 Exclusive: Wading in troubled water, when the Indian real sector was looking for direction through the Union Budget 2013-14, the Finance Minister seems to have given symbolic relief to the sector by encouraging the home buyers but at the same time has denied the sector some of the long pending substantive demands. To allow an additional tax deduction of Rs 1, 00,000 on interest rate for home loans up to Rs 25 lakh, the Union Budget has aimed to give more boost in low cost housing segment.