The unprecedented restructuring of project portfolio, selling of land bank, exiting non-core business and the job cuts have yet not led the Indian real estate into the desired comfort zone. The realization to shed the flab has on the contrary left some of the developers to outsource the project execution and pay more.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.
Hindustan Motors (HM) has refuted allegations of irregularities in a land deal at the Uttarpara plant in Bengal.
Faced with the non-compliance by the real estate companies, Brand Capital, earlier known as Times Private Treaties, the ad-for-equity business of publishing group Bennett, Coleman and Co. Ltd (BCCL), has hired real estate consultant Knight Frank India Pvt. Ltd to manage its real estate portfolio.
In a business that lacked the critical element of trust and transparency, forget brand equity, the entry of corporate conglomerates was widely perceived to be change of business outlook for the sector. The collective consciousness accepted the promise that the corporate giants would change the brand perception of the sector in no time. This load of trust & opportunity goaded many corporate houses into the non-core expertise area of real estate.
Private equity investors are poised to exit roughly $5 billion worth of Indian real estate investments in the next two or three years, a Nomura report said.