Integrated townships can reduce the burden on infrastructure and provide a fulfilling lifestyle for buyers, at a much reduced cost all round. Gulam Zia, National Director – Research & Advisory Services, Knight Frank India points out, “Of late, the planning authorities and Government bodies have realised the importance of integrated townships and are giving special concessions for creation of such townships.
The anti-monopoly regulator Competition Commission of India (CCI) has dismissed the plea of two individuals against the realty company Unitech alleging that Unitech failed to fulfill its obligation by not handing over the possession on time and therefore violated section 4 of the Competition Act (2002) by abusing its dominant position.
Asia Pacific Office market report by Cushman & Wakefield – that compared the rental values of Central Business Districts (CBD) across Asia Pacific – ranks NCR as the 5th most expensive CBD location in the region while Mumbai – CBD ranked 10th most expensive location in APAC. Traditionally expensive office destinations of Hong Kong, Singapore and Tokyo (continued to hold the top three positions respectively.
RICS India Commercial Property Survey suggests an easing in global strains has led respondents to upgrade their expectation in both the occupier and investment markets in the country. With real estate clearly feeling the effects of the softer macro environment in the previous two quarters, the market is now witnessing improving results across several indicators, which could signal the beginning of a turnaround.
A White Paper on black money tabled in Parliament on Monday, May 21, has named real estate among others as most vulnerable to menace of black money. Given that land is part of the top black money generators, the white paper suggested that states could consider taxing farm income to curb black money.
Real Estate is at the epicenter contributing to shape up today’s world. The construction industry is also treated as the backbone in a developing country like ours but in recent times it has been seen slowing down by low margins, negative cash flow from operations, rising interest costs on high working capital , execution delays and poor corporate governance.
Bandra Kurla Complex was created by MMRDA as an alternate CBD to Mumbai, with the express purpose of halting the further growth of offices and commercial activities in South Mumbai. Currently, BKC has a total stock of 8 million square feet of office space. An additional supply of 2.5 million square feet is expected in 2012 with the completion of The Capital, FIFC and TCG Finance Centres.
If you look the FDI side of the story over the years, initially there was an influx of a lot of foreign funds and in 2007, it was driven by the US. But the 3-4 years that investors have been here, we have seen a lot of selling. So a lot of investors withdrew or reduced their portfolio and even though being a fund, we found ourselves putting our hands into the acquisitions, marketing etc. It was not our comfort zone and we have been playing the role of a developer instead.
Housing demand is expected to remain subdued in short-to-medium term…
The government has formed a committee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40 per cent, minister of housing and urban poverty alleviation Kumari Selja said on Friday, May 11.