Track2Realty Exclusive: Some analysts are of the view that in some other sectors people are vocal because they come from very powerful political background and are second generation entrepreneurs. Then, they are active at the federal level without any structural defect where policy at centre might help at some level and hamper at some other state level. Automobile policies, for instance, are framed for across the country.
Track2Realty Exclusive: The gradual steady price rise philosophy in Pune property market also helps keep speculators away from the projects. We do not get too many instances of investors booking entire buildings or investing in projects with a view to exit in a few months with profit booking.
Track2Realty Exclusive: Realty is predominantly a regional business, primarily on account of land being a state subject. Therefore it is a tough task for one single body or association to represent the views and opinions of all stakeholders in the sector.
Track2Realty: The real estate sector in West Bengal would be hurt if a proposed tax on property sales is introduced in the Finance Bill 2013, the Confederation of Real Estate Developers’ Association of India’s (CREDAI) Bengal chapter said on Wednesday, May 8.
Track2Realty Exclusive: Asking for industry status, the sector doesn’t want elements of accountability that comes with the package. Quite opposed to the very idea of regulation, even after self-regulatory attempts didn’t work out, realty doesn’t evoke confidence at the policy level and often ends up being at loggerheads with the government. Track2Realty finds that though policy advocacy is very much desirable in the sector, it is yet so debatable that the stakeholders have failed to evolve a consensus over its issues and agenda.
Track2Realty-Agencies: The proposed bill to regulate the real estate sector would make it mandatory for the development authorities to clear the building plan on the basis of carpet area, a top government official said on Saturday, May 4.
Oberoi Realty is looking to lucrative markets beyond its home market of Mumbai and is now planning to foray into new market of National Capital Region. The company has outlined budget of nearly Rs 150 crore for this and is aiming to do so in the current financial year, a top company official said.
Track2Realty: It has been a marginal rate cut that may not have any significant affect on the fortunes of the economy in general and real estate in particular. However, the sector believes it still goes a long way in improving the sentiments of the market by and large. On Friday, May 3, the Reserve Bank of India (RBI) cut its policy interest rate by 25 basis points, for the third time since January as growth slows and inflation ebbs. RBI says there is little room to ease monetary policy further.
Track2Realty Exclusive: The Pune realty market in many ways is very different from many other cities in the country. Pune has showed tremendous resilience and a quick bounce back in the aftermath of the 2008 global crisis. In many ways, Pune depicts the behaviour of an extremely mature market leading to low levels of volatility in terms of capital values of the homes.
Track2Realty-Agencies: Government has said on Friday, April 26, that complaints were received against 27 real estate firms across the country for alleged forgeries and dubious investment schemes, out of which 18 are being probed by different regulatory and enforcement agencies for further action.