The government has formed a committee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40 per cent, minister of housing and urban poverty alleviation Kumari Selja said on Friday, May 11.
With the real estate industry reeling under an unprecedented crisis, top developers from across the country will meet in Pune for a two-day CREDAI conclave starting Wednesday to brainstorm and find solutions to revive the sector that contributes 6.5% to the GDP.
Hyderabad continues to be a favoured destination for investments due to its unique infrastructure, and real estate prospects are promising despite the Telangana agitation.
When the Reserve bank of India was announcing the CRR rate cut by 50 base points, the house wife Sugnadha Dubey, glued to TV news channels, couldn’t resist the temptation to call up her husband to know whether the EMI burden on this middle class home owner is going to ease out from next month. With no background of the world of financial jargon, her husband could only assure her with a wishful thinking.
The combined net debt of India’s 11 listed developers rose 15 percent in the 12 months through June to 385 billion rupees, according to Mumbai-based Edelweiss Securities Ltd.
Macro level forecast suggests Asia in general, and China and India in particular, will continue to attract foreign direct investment (FDI) despite the slowdown as Europe and the US continue to grapple with economic problems of their own.
Hyatt Hotels Corporation has introduced its new Hyatt House extended-stay brand in India, with the signing of a management agreement by a Hyatt affiliate for a hotel in Mumbai.
One of the main features of the real estate ecosystem is transparency. However, on the contrary, the market is considered as an information-inefficient market, where seller tends to provide less information to the buyer.
In view of the adverse publicity and shaken customer confidence arising out of significant delays in delivery of projects across the states, there is a strong acceptance of this matter by top management of the developers and investors alike.
Through the course of 2010, the realty sector evened out into a level playing field, with enough traction in the market to hold investor interest, with several on-going projects being delivered and others being launched.