During the CREDAI national convention few years back, a miffed real estate seemed to settle scores with the then Union Urban Development Minister Kamal Nath. Displaying stiff opposition to the proposed real estate regulator, the builders’ body went critique to say it is not actually a regulator bill, but builders’ harassment and public amusement bill.
The residents of a housing society, Supertech Emerald Court, in Noida were taken aback one fine morning when they found the office of facility management locked. The builder had left the maintenance overnight after having tussle with the Residents’ Welfare Association (RWA) for quite some time over the maintenance, or rather the lack of it. The residents alleged that the builder had left them in the lurch as it was not a proper handover of maintenance to the RWA.
Smart Home is a concept which is gaining acceptance with the Indian consumers these days as many residential developers are incorporating this concept in their luxury projects. Essentially, a smart home integrates state of the art technology in the electrical devices that enhances the experience as well as makes life easier. With a busy lifestyle, the affluent consumers nowadays demand integrated houses which can be controlled remotely.
How relevant is the introduction of REITs when it comes to providing a new opportunity to get funds for the Indian real estate industry? Consider first, that India’s real estate has struggled to reduce debt, given that interest rates are among the highest in Asia. And, also consider that REITs will provide investors an opportunity to buy into India’s real estate market – these two aspects are just the basics.
The Central and States governments are now contemplating many ways and means to provide access to housing for all. Affordable housing will not only fill the housing gap but be the next major economic growth driver by creating more than 2 million jobs during the period till 2022.
What makes Mumbai a global real estate market to bet on? There are many USPs of the city property market to make it a global property market, like luxury landscape of the city; its positioning as a job market; social life of Mumbai; investment in the city; appreciation potential; and insulation against price crash. Mumbai is one of those markets that have also weathered the slowdown challenges without crash; not even New York, London or Dubai have this distinction.
It seems RERA has suddenly made the PMS as one of the most sought after areas of expertise. The developers can no longer afford to delay their projects due to mismanagement by the execution team. In most of the cases the developer himself and/or his top management was thus far taking care of the execution with no seamless process of execution handed over to the experts.
Delhi-NCR based Central Park is venturing into commercial real estate with an investment of about INR 2,000 crore. Central Park will develop a 40 lakh sq ft mixed-use project in Sector 67, Noida which is also its first project in Noida.
If one has to ask a homebuyer about his dream wish list, one would ask for few things like getting what one can see, carpet area that could be measured, no hidden cost and, last but not the least, no extra tax. Now it seems these fancy wishes would be true with the Goods & Services Tax (GST) if only one would go for a ready to move property.
ANAROCK Property Consultants, which former JLL Country Head Anuj Puri launched last month, has appointed Housing.com’s co-founder and ex-CEO Rahul Yadav as Chief Product & Technology Officer.