With nearly a hundred malls in the Delhi-National Capital Region (NCR), it has become the default mall capital of India. No other city comes close to the number of operational malls that are found in Delhi-NCR.
The Indian subcontinent has always been prone to earthquakes. However, it is only the recent earthquakes in Nepal which have made home owners and prospective buyers wonder about the earthquake resistance factor in Indian real estate. Two quakes, a week apart, ripped the beautiful mountainous country to debris and several Indian states and cities felt the impact, as well. In some places, there were even incidents of damage to old structures and ill-planned buildings.
A National Green Tribunal (NGT) order in 2013 and yet another recent one have collectively had a greater negative impact on home buyers in the National Capital Region (NCR) than on the developer community. While home buyers were caught unawares and continue to remain jittery with the resultant delay in possessing their dream homes, these two NGT orders reveal the apathy authorities and developers have towards buyers.
Omkar Realtors and Developers has launched one of its towers (Tower A) in its flagship ultra-luxurious residential development Omkar 1973 Worli. Tower A offers limited edition done-up boutique sky apartments priced at Rs 15 plus within the size range of 3000 – 4500 sq. ft.
Tata Value Homes Limited, a 100% subsidiary of Tata Housing Development Company Limited, announced its entry into Delhi NCR’s Affordable Housing market with the launch of ‘New Haven’ in Bahadurgarh.
It is an interesting reality that most developers will not consider a purchase inquiry as legitimate unless the lady of the house in attendance. This fact speaks volumes, and deserves in-depth analysis. The plain fact is – when it comes to choosing and buying a home, the ‘male prerogative’ – in any case a rapidly dying concept in today’s world – takes the back seat.
Mahagun has launcheded the unique concept of luxury housing – The ‘M Collection’. Each of the properties of Mahagun will have a select number of units set aside for the high net-worth individuals and customers looking forward to a lifestyle and living in a home, which is designed in accordance with the standards of luxury living and exuberance worldwide.
What needs to be done to ensure that Real Estate Investment Trusts (REITs) get to be the game changer? In India, we have seen ‘pious thought’ and ‘positive thinking’ not always being supplemented by positive action on part of the ‘powers that be’; be they regulatory authorities or the taxation authorities. Challenges which need to be addressed include different rates at which stamp duties are levied, for purchase and sale of assets across various states in India. Potential exists; making it a reality is the challenge.
Pune continues to draw massive lot of interest from luxury home seekers, both from within the city and from Mumbai and beyond. The reasons are not to arrive at find:
Track2Realty Exclusive: The property markets of the financial capital Mumbai and the political capital Delhi has always been exposed to the reality that it is the expat Indians, the working class professionals, who are the key demand drivers of property. However, in the last over a decade or so this outlook on the migrant work force has become a pan-India phenomenon.