Revenues of top-25 realty companies declined 9.30% in Q4FY12, mainly on account of low sales off-take due to higher prices and higher mortgage rates, says a Knight Frank India Research on Economy and Realty at glance. The study says the Realty Index on Bombay Stock Exchange (BSE) has dropped by more than 26% during the last one year compared to a 10% fall in the Sensex during the last fiscal year.
It is not just real estate developers and national & international hospitality majors, but several high net worth individuals and business groups from sectors like auto, petroleum and telecom have grabbed hospitality assets, marking a strategic trend shift. Track2Realty analyses how opportunities and roadblocks co-exist in the hospitality, thus making it an interesting sector where there is room for everyone to grow.
DLF’s Chairman, K.P. Singh, has been conferred the “Indian Business Leader of the Year” award by Horasis: The Global Visions Community — an independent organisation that promotes sustainable future.
Spiraling property prices and slump in home sales have forced the Union Housing Ministry to think out-of-the-box solutions. After the decision to set up a high-level committee to recommend policy interventions to facilitate creation of rental housing stocks, the ministry has now sought views from private developers and builders to evolve a strategy for reducing the time taken in approval of real estate projects that can help bring down the cost of houses.
Jones Lang LaSalle’s markets experts have shared their expectations for the office leasing markets in Asia Pacific in the second quarter of 2012. In those markets that were experiencing office rental declines in previous quarters, the Markets teams are anticipating a slowdown in the rate of decline, for example a three to four percent fall in Grade A office rents this quarter in Hong Kong compared to an actual 6.3 percent decline in the first quarter.
Omaxe has reported a more than two-fold jump in its consolidated net profit at Rs 23.73 crore for the quarter ended March 31, 2012 as against Rs 11.67 crore in the year-ago period.
The income from operations increased by six per cent to Rs 603.58 crore in the fourth quarter of 2011-12 as compared with Rs 568.60 crore in the corresponding period of previous year.
Once seen as very powerful economic tool for catalyzing the growth process during restructure and liberalization of economy, Special Economic Zones (SEZs) in India could not replicate the Chinese success story, as assumed. Track2Realty takes a look on the future of SEZs in India as realtors make a beeline to exit or extend the tax haven, and the Government groping for fresh ideas.
India is reeling under the continued onslaught of inflation, petrol price hikes and generalized insecurity about where the economy is headed. Against all expectations, property prices in our metros have held firm and even show signs of upward movement. While the man on the street continues to wonder when he will be able to buy a modest home of his own, India’s super-rich are raising palatial homes at truly astronomical expense.
RICS India Commercial Property Survey suggests an easing in global strains has led respondents to upgrade their expectation in both the occupier and investment markets in the country. With real estate clearly feeling the effects of the softer macro environment in the previous two quarters, the market is now witnessing improving results across several indicators, which could signal the beginning of a turnaround.
A White Paper on black money tabled in Parliament on Monday, May 21, has named real estate among others as most vulnerable to menace of black money. Given that land is part of the top black money generators, the white paper suggested that states could consider taxing farm income to curb black money.