Delivery delays, mismatch in area, changes in structure or designs in a project and developers going back on other promises have been quite common. These issues have given rise to consumer activism, in courts and outside. The Competition Commission of India (CCI) slapping a fine of INR 630 crore on DLF gave some hope to the buyers.
The industry body Confederation of Real Estate Developers’ Association of India (CREDAI) has thus far failed to act against the erring builders. They had only been vocal with a resolve to suspend the members who have repeatedly gone back on promises to buyers.
The National Green Tribunal (NGT) refused to lift the ban on dumping of garbage at Sector 138A of Noida and asked the Noida Authority to prepare a plan for shifting of the illegal dump yard to the site earmarked for the purpose.
This will be Embassy’s first project in the State and it will be known as Embassy Taurus World Technology Centre, Trivandrum. Embassy will have an equity commitment of 49% while Taurus Investment Holdings will hold the remaining 51%.
JC Sharma has been witness to the emergence of Bangalore as the ‘Destination Indian Realty’. He feels it is not just the business potential of the city that makes it an investment magnet. Rather, there are real estate related catalytic factors, like the developers’ focus on end-users, innovation with the product and adoption of advanced technology that makes Bangalore numero uno of Indian real estate.
The Central and States governments are now contemplating many ways and means to provide access to housing for all. Affordable housing will not only fill the housing gap but be the next major economic growth driver by creating more than 2 million jobs during the period till 2022.
Manoj has over 25 years of management experience, both at national and international levels, with large clients and multinationals. He has previously headed Facilities and Procurement divisions for various multinationals including GE Capital International, Dell & Lucent Technologies. In his last role he was Vice President, Corporate Services at Deutsche Bank AG.
Affordable housing and Mumbai often sound to be quite contradictory. The peninsular city with limited land parcels and load on the infrastructure often makes an urban planner fumble for offering any sustainable solution. Critics hence dismiss the very idea of affordable housing in the city. In Mumbai the development and growth of affordable housing has also been facing significant challenges owing to a gamut of fiscal, regulatory and urban issues.
There is currently a shortage of 20 million homes. By 2030, 590 million Indians will live in cities, necessitating a further $2.1 trillion of capital investment in infrastructure. The challenge to house the future population is urban in scope and unprecedented in scale.
Swapan will be responsible for developing new avenues of growth in Eastern Region and will work closely with clients to provide innovative and value driven transaction solutions that are in line with their strategic goals. Swapan will be reporting to Anshul Jain, Managing Director, India, Cushman & Wakefield.