Track2Realty: Retail leasing activity continued to be subdued in Q2 2013, as most retailers remained cautious due to the weak economic conditions that are currently prevailing in India. Several retailers started to employ new service delivery models by closing down loss making stores, especially in non-core markets.
Track2Realty: In a major setback to attempts of Maharashtra government to improve infrastructure in the Mumbai, none of the five shortlisted firms put in tender for the ambitious Mumbai TransHarbour Link (MTHL) project, the bids for which opened on Tuesday, Aug 6. It is also seen as a major blow for the Mumbai real estate market which was expecting a turnaround post this Rs. 10,000 crore ambitious project.
Track2Realty Exclusive: The realty sector may call it freeze of creative liberty but the proposed penalty clause in regulator bill on misleading ads can also bring much-needed facelift to the sector. Track2Realty takes up the issue with the industry representatives to understand why they are scared with the misleading ads clause in the proposed bill. Is it really about curbing the creativity or an attempt to rationalise over promises by the developers?
Track2Realty Agencies: Expressing hope that Parliament will pass the Real Estate (Regulation and Development) Bill in its Monsoon Session, Housing and Urban Poverty Alleviation (HUPA) Minister Girija Vyas said that the legislation aims to protect consumer interest but was not against the industry.
Track2Realty Exclusive: The current environment necessitates greater discipline in marketing, steered by a well-conceived strategy. Absorption levels in many cities, both in the residential and commercial segments would indicate that developers are carrying surplus inventory on their balance-sheets.
Track2Realty: USD 2 Billion (INR 11,854 crores) is available with private equity firms ready to be deployed in real estate, despite a drop in the PE investment in the first half of 2013, says Cushman & Wakefield’s latest report on the private equity (PE) in real estate investment.
Track2Realty Exclusive: In Mumbai Kohinoor City has a club house with wide range of international standard gymnasium equipments, rubberized jogging track, badminton court with herculean flooring, squash & table tennis court with wooden flooring, lawn tennis, swimming pool with Jacuzzi, steam rooms, yoga room, carom & pool room, cricket ground and even amphitheatre.
Track2Realty Exclusive: The multiplier effect of real estate sector and its capacity for generating employment is well recognized. It is estimated that the sector contributes close to 6 per cent to the gross domestic product (GDP) of India and is estimated to be growing at 20 per cent per annum.
Track2Realty: Sikka Group has announced its foray into luxury real estate with Sikka-The Downtown, Noida, at Sector 98, Noida Expressway. The group aims to strengthen its footprint in North India.
Track2Realty Exclusive: Realtors are also increasingly smarting to deal with the criticism as digital media is proving to be a deadly two-way weapon. Ravi Saund, COO of CHD Developers asserts it has not deterred them in any way; it has only helped in getting closer to the customer base and understand their needs and expectations from a developer in today’s market.