Track2Realty Exclusive: Call it controversial, blame it to be provocative or just dismiss it against the ethos of prudish Indian culture, but sex has been the tried and tested mantra of selling in advertising. Real estate the world over has courted this formula not just with sexually inducive advertising but as a holistic mantra of marketing, even when the campaign has attracted widespread criticism.
Track2Realty Exclusive: That small builders and fly-by-night operators in the business are the reason why the government is so concerned with the misleading advertisements. Often they advertise the project launch without even getting the mandatory license and in some cases home seekers hard earned money is lost.
Track2Realty Exclusive: In India the regulation bill has been contemplated for a few years, but it is only now being actively pursued through multiple rounds of industry consultation. As a tool to drive this initiative, the Ministry of Housing and Urban Poverty Alleviation (HUPA), has drafted a regulation bill laying down the necessary provisions to set up a regulatory body, defining its powers and functions, responsibilities of the developers and penalties for violations and RICS appreciates the initiative to further improve upon and facilitate a smoother introduction of the regulatory authority within the purview of the revised regulation bill.
Track2Realty Exclusive: There is no clear-cut definition of the term ‘affordable’, as it is a relative concept and could have several indirect meanings in different contexts. In India, private developers primarily target luxury, high-end and upper-mid housing segment, since it fetches a premium over low income housing. This leads to a sustained supply for this segment, increasing market competitiveness for developers.
Track2Realty: India has witnessed the sharpest appreciation in real estate prices in the last couple of years, according to data from the Global Property Guide, an organization which collates real estate data from across the world.
Track2Realty: Godrej Properties has entered into a development agreement with Oasis Buildhome to develop a 13.76 acre property situated on Northern Periphery Road (NPR) in Sector 88A/89A, Gurgaon. The project will be developed as a premium residential group housing project and is expected to offer 1.2 million sq. ft. of saleable area.
Track2Realty Exclusive: Clash of generation in Indian business is no secret. However, when it comes to the second generation in Indian realty, the gap gets even wider since suave & sophistication that often comes with their foreign degree is in sharp contrast to the complex nature of business.
Track2Realty: The real estate sector has been hoping against hope that the rates will be marginally cut in order to keep the sentiments bullish. Reports of foreign funds warming up and the substantial contribution of the sector, 6 plus to the Indian GDP was also being seen as an indication of why the policies would be eased.
Track2Realty: Kolte-Patil Developers Ltd. has reported a jump of 115% in its net profit to Rs.26.40 crore for the first quarter ended June 30, 2013, compared to Rs.12.26 crore for the first quarter last fiscal. During the same period its revenue increased by 112% to Rs.219.43 crore from Rs.103.29 crore.
Track2Realty Exclusive: The TINA factor also poses the biggest risk for investors in real estate at current level. The fact that real estate prices are all time high at a time when the economy is faltering with GDP growth coming off from a 8.4 per cent in 2010-11 to level of 6.5 per cent and below forecast ahead should ring a warning bell for investors.