Demand for commercial office space across the seven major cities in India is estimated at around 160 mn sq ft by 2014, a latest study by real-estate services firm Cushman and Wakefield Research (CWR) said.
The Confederation of Real Estate Developers’ Association of India (CREDAI) Friday urged the central government to introduce single window clearance and a uniform tax structure for the sector across the country.
DB Realty, the tainted Mumbai-based real estate developer whose name figured in the 2G spectrum investigations, has lost its fourth director since February.
Australia’s Platinum Investment Management has raised its stake in India’s second largest real estate firm Unitech to 5.16%.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
Corporate confidence is boosting activity in top tier office markets around the world, leading to accelerating early cycle rental growth and robust capital value growth in prime assets, especially where new quality supply is limited, according to Jones Lang LaSalle’s inaugural, quarterly Global Office Outlook report.
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.
SFS Homes, a noted builder from the south Indian state of Kerala, is in Qatar to promote its latest projects at Thiruvananthapuram, Kochi, and Guruvayoor.
The Income Tax department has sent notices to real estate companies, MMRDA, CIDCO stating that all land lease sales or transfers attract a 10% tax, sources said.