Be it Mumbai or Pune in the Western part of India or Hyderabad, Bangalore and Chennai in the South, the homebuyers seem to be convinced with the reality of GST and its implications with various stages of construction. It is hence not surprising that most of the homebuyers across the cities today wish to invest in ready to move apartments to save from the hassles of paying the GST.
There are very few case studies where the developers have flocked out to cities on sheer promise without registering their presence in the four metro cities. However, such migration to magnet territory is today quite visible in Gujarat where the developers from other states are increasingly flocking, most notably in the city of Ahmedabad.
As per Colliers Research, RERA and GST compliance will remain a challenge for several developers for at least the next six months. We expect a decline in the number of launches in H2 2017. However, the sales are likely to pick up during the festive season due to higher optimism among buyers after RERA.
Swapan will be responsible for developing new avenues of growth in Eastern Region and will work closely with clients to provide innovative and value driven transaction solutions that are in line with their strategic goals. Swapan will be reporting to Anshul Jain, Managing Director, India, Cushman & Wakefield.
With over a decade in C&W, Sanjay has led numerous large transactions and has serviced clients across FMCG, BFSI, Government Organizations, Consulting Firms, IT/ITES, Telecom and Power/Energy sectors.
A case in point is Track2Realty last story “NGT stay likely on Noida Sector 137 dump yard”. A section of these so-called activists jumped into action to immediately question and contest the story vehemently as if saying, “Oh my God! How can it be solved so early”. This is despite the fact that the story is only talking about a likely scenario (as shared by a source with the NGT) and also puts pressure on the NGT and the other government agencies.
Under pressure from the civil society of Noida Sector 137 the NGT is likely to issue the stay order to Noida Authority within a week against further dumping of garbage. However, the apex environment body is yet to take a call to issue judgment for the shifting of the dump yard to another location, a source with the NGT confirmed it with Track2Realty while requesting anonymity.
The MMR was notified in 1967, in an effort to address the rising problems faced by inhabitants. More areas were also included in the region and today the MMR covers Greater Mumbai, Thane, Kalyan and Navi Mumbai, apart from several more towns and villages. Over the years, property price rise has been astronomical in the original core parts of Mumbai.
Indirapuram has been the introduction of Delhi-Noida-Ghaziabad to modern living that was till then the privilege of only the luxury buyers of Gurgaon. Most of the residents of Mayur Vihar, IP Extension and adjoining areas of Delhi were exposed to the modern urban housing with club, swimming pool and other high-end amenities in this market. Other residents of Noida and Ghaziabad had till then availed only the plotted developments and apartment with amenities was introduced to them here only.
The question is in the absence of high paying economic activity like IT/ITeS will the city keep the desired pace to sustain the projected growth and the life style. Critics often point out that in the absence of steadfast pace of economic activity the market may end up being another investors’ haven. However, developers active in this market maintain that more employment opportunities have seen people preferring to stay in Bhiwadi than commute to work. Also, a large number of floating population from nearby cities and across the country is still high, which needs to be catered to in terms of their aspiration and lifestyle choices. The rise of nuclear families have further seen emergence of more demand for dwelling units in the region.