It is just the pipeline visibility that is driving developers like Supertech which is building north India’s tallest residential as well as tallest mixed land use project. Theyrather assert that changing demographics, lifestyle and growing aspirations have encouraged them to launch conceptually designed projects with facilities which are matchless and desired by the people.
No end to the global housing market downturn is in sight, except probably in the US, according to a survey of global house price trends by the Global Property Guide Asia is weakening, and house price falls in the worst-hit European crisis countries are dramatically accelerating.
Interest from international real estate investors in Indian real estate has been limited in 2012. India has witnessed 6% q-o-q growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%, however China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
UGL Limited has announced that its property services business, comprised of UGL Services (including the Unicco, Equis and Premas operations) and DTZ, will be united under a single global brand. Since 5 December 2011, when UGL acquired the trading operations of global real estate services company DTZ Holdings plc, the two companies have cobranded as UGL Services and DTZ.
HCorp Realty Pvt. Ltd. through its subsidiary group company, Blaze Conbuild, offers first-of-its-kind opportunity to own a piece of customised cottage in the lap of Himalayas. The project called Mystic Mountain, is strategically located in the lap of nature in Almora, Uttarakhand. Around 25 km away from Mukteshwar, this is first such project that offers options of individual plots and customised luxury cottages of various sizes.
Himachal Pradesh has spiked plans of over 60 builders and developers to sell flats and cottages in the hill state. The developers include DLF, Janta Land Promoter Ltd, Omaxe Construction Pvt Ltd, Optima Construction Pvt Ltd, Amar Nath Aggarwal Builders Pvt Ltd and Surya Builders, according to officials.
LIC Housing Finance, a subsidiary of Life Insurance Corporation of India (LIC) plans to disburse around 8-10 percent of its total loan portfolio to developers by the end of this fiscal, a top company official said.
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.
The Centre has responded positively to the Delhi Government’s appeal to regularise more than 1600 of the city’s unauthorised colonies. However, the truth is that even after this notification, the ground reality in that these colonies are unlikely to change for now.
The Sahara Group has clarified their stand in public after the jolt by the Supreme Court asking them to refund within three months Rs. 24,029 crore it had collected between 2008 and 2011 from over 2.96 crore investors, flouting mandatory regulatory provisions and the Company Act. In the wake of media onslaught after the Court asked two Sahara Companies to pay 15% interest on the amount, the Group in a statement has following version in its defence.