Owing to global issues, liquidity is becoming a problem. Though the phase is temporarily, the concern cannot be ruled out. Indian real estate sector is banking on the fact that change will take place and market will come out of the situation.
Just over a decade ago nobody would have even thought about the redevelopment. What then changed in the last two decades? Well, almost about everything changed as far as vision about the urban infrastructure and living is concerned.
One can also ask the broker about his networks by enquiring about all the areas where he practices. A qualified broker will be able to tap a wide network of other brokers, builders and individuals in a short time. One should check with the broker if he is an authorized agent for any developer.
Greater emphasis needs to be awarded to project delivery in light of the human, physical and monetary resources that are lost as a consequence of such delays. Even in the most robust economy, the challenges involved in construction and delivery of projects are enormous. There are common worries focused on timeliness, costs, performance and delivery. Stakeholders involved across the development process are often insufficiently coordinated to deliver a finished product within budget and on time.
In 1959, Charles E Lindblom, the American political scientist, published a paper in the Public Administration Review entitled The Science of ‘Muddling Through’. In this, he contrasted what he called the ‘root method’ of decision-making with the ‘branch approach’.
India’s growth story has many facets; one of the integral parts of growth – and arguably the most important one – is urbanization. In fast-growing economies, cities are significant investment and employment generators, which in turn carry the growth momentum forward. The sustainability and livability of any city depends largely on the quality of its infrastructure and real estate stocks. Needless to say, cities also require large sums of money to create urban asset stocks, including buildings and infrastructure.
An emerging segment to attract the hotel industry of India has been the MICE (Meetings, Incentive, Conventions and Exhibitions) segment as it has the potential to change the face of several upcoming Indian cities. The overall international visitors are likely to grow many fold due to MICE as it allows for the sale of several hundreds or even several thousands of room nights as opposed to the transient travellers who utilise only a few room nights at a time.
Godrej Properties will redevelop 18 residential buildings in Chembur, Mumbai. The Company, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL), entered into an agreement dated January 18, 2012 with Kamla Landmarc Property Leasing and Finance Private Limited (Kamla) to undertake a residential redevelopment project in Sahakar Nagar, Chembur, Mumbai.
Call it the fallout of Competition Commission of India (CCI) penalty on the biggest real estate company DLF in a Gurgaon case last August, there has been a rush of complaints at the CCI against several property majors since then. According to CCI officials at least 200 complaint letters came to them against real estate players, of them around 15 were official cases.
Can policy paralysis lead to postponement of sales exhibition? Doesn’t sluggish market demand more pro-active sales drive? Is a completely sold out exhibition postponed because it anticipates no business in advance? Well, if MCHI-CREDAI is to be believed, they have postponed the Real Estate & Housing Finance Exhibition, PROPERTY 2012 Mega Show, scheduled to be held on 12th – 15th April, 2012, due to policy paralysis. However, it seems to be more a case of ideas paralysis.