Tier II and III cities have rewarded the first movers-III
Track2Realty Exclusive: With realty being a micro market driven business and land a state subject, dealing with the government machinery has a different challenge in many of these cities.
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Mumbai builder lodge defamation suit of Rs. 1,086 Crore against false complainant
Track2Realty: While the customers lodge complaints against builders, here is a case in which a builder has registered a defamation case against a customer. The Mumbai-based reputed Haware Engineers & Builders have filed a defamation suit amounting to Rs 1,086 crore against one of its former customers in the court.
Key Indian cities witness supply of over 20 mn. Sq.ft. of prime office space in the H1 2013
Track2Realty: The prime office space segment across key cities in India witnessed a supply infusion of more than 20 million sqft in the first six months of 2013.
Intent questioned, taxation dilemma with SEZs
Track2Realty Exclusive: Social activist Medha Patkar has rather questioned the need of SEZs and acquisition of such huge tracts of land. Referring SEZs as “pervert corporate projects” Patkar points out that the Maharashtra Industrial Development Corporation (MIDC) had about 80,000 acres of unutilised land – information unearthed through the Right to Information Act.
Ashiana Housing launches its largest township project – Ashiana Town
Track2Realty: Ashiana Housing has launched its largest township project “Ashiana Town” in Thara, Bhiwadi. The project has got ‘Non-Residential’ clearance under section 90A of Rajasthan Land Revenue Act in February 2013.
Time to address urban challenges with holistic approach-II
Track2Realty Exclusive: Catering to the rapidly urbanizing consumers and emerging economies will hit the demand pressure for natural and capital resources. In cities, one billion people will enter the global “consuming class” by 2025, with incomes high enough to become significant consumers of goods and services.
Shriram Properties and partners agree to sell Gateway SEZ
Track2Realty-Agencies: Shriram Properties the Bangalore-based realty arm of the Shriram Group, is understood to have up lined up discussions with key global players including Mapletree and Ascendas to sell its Gateway SEZ, a 1.3 million square feet information technology special economic zone in Chennai for $150 million.
Holiday Inn to come up in Omaxe New Chandigarh
Track2Realty: Omaxe and The Intercontinental Hotel Group (IHG) are bringing to the city of New Chandigarh (formerly Mullanpur), a five star hotel “Holiday Inn”. In an exclusive tie-up for a hotel in Omaxe’s integrated township Omaxe New Chandigarh, the company will undertake the construction of the 150-room hotel which will be managed by IHG.
When consumer activism against developers backfires-IV
Track2Realty Exclusive: Signs of consumer activism backfiring have already started appearing. For instance, visibly upset with the increasing instances of protests by Noida Extension home buyers, which often obstruct traffic and law and order arrangements in the city, the district administration in November, 2012, asked the buyers’ association to not to protest in groups.
Tier II and III cities have rewarded the first movers-II
Track2Realty Exclusive: Property market in India is no more metro centric as major national players have already made an entry into tier II and III cities across India. An extended period of high interest rate have dissuaded buyers in metros to move towards more affordable housing in tier II and III cities, as these cities have the potential to fetch higher rentals as well.