Track2Realty: Considering the increasing scarcity of available land in our cities, it is becoming increasingly difficult to discuss affordable housing creation without also considering slums and their redevelopment. In latter-day India, almost every city has its slums.
Track2Realty Exclusive: Navratra is all about nine days of festivities with 10th day being celebrated as Dussehra, which means end of 10 evils. In terms of its significance for real estate market which has weathered many challenges borne out of bearish macro-economic sentiments leading to slow sales, squeezed funding and inventory hangover, this Navratra seems to be the turnaround time.
Track2Realty Exclusive: The real estate has by and large welcomed the move to bring the slum redevelopment and rehabilitation projects under the ambit of Corporate Social Responsibility (CSR). It has been a wish that hat was granted even before the sector could get vocal with the wish list. It is hence no surprise that some of the adjectives that the Finance Minister’s announcement could earn have been ‘a game changer’ or ‘a corporate catalyst’ and ‘investment magnet’.
Track2Realty: It is usually believed that any sort of affordable housing reduces the property values of the neighboring properties as well. In the Indian market context, however, various studies as well as on-ground experiences in India reveal that this age-old preconception does not hold true.
Track2Realty Exclusive: There are very few property markets across the country where the developments have been holistic. Some have grown as the residential zones, while others have developed as commercial zones. Even in commercial segment certain markets are known as retail markets while the rest of the markets have more office spaces. The locations close to the Central Business Districts (CBDs) get to see a few hospitality projects. Navi Mumbai, however, defies this growth pattern of the property market.
Track2Realty Exclusive: It may sound like a paradox but the rental market of Gujarat city is showing bias in two directions when it comes to the property acquisition on rent. While the housing market is showing rental bias in the negative direction, the same property index is going northwards in the commercial vertical of property.
Track2Realty Exclusive: One of the most ardent desires of an individual is to own a house with location and comfort being the determining factors in most of the cases. However, to get access to shopping facilities or entertainment hubs or medical care or even to commute to workplace remains a sheer imagination almost beyond fulfilment in India.
Track2Realty Exclusive: There is no denying that the Union Budget 2014-15 has incentivised the eco system of the Indian real estate both for the developers as well as the buyers. Many of the announcements by the Union Finance Minister Arun Jaitley may not have any direct bearing on the fortunes of the real estate developers in this fiscal year, yet the symbolic sops are enough to silence the otherwise overtly critical sector for some time now.
Track2Realty Exclusive: IT driven locations across the country has been witness to the migration of large educated workforce, be it Bangalore, Gurgaon or Pune. This upwardly mobile, well-earning and lifestyle driven class hence becomes a key demand driver of property in the given city. In Pune the expat Indians have thus emerged as the key demand driver of property.
Track2Realty: Describing Union Finance Minister’s Arun Jaitley’s maiden budget as “half glass full” and half filled with hopes, realtors’ apex body CREDAI Chairman Lalit Kumar Jain said it met with some expectations and left some out.