Track2Realty-CRIENGLISH: In a country where majority of the people do not have decent homes and the volume of sales of housing units in Indian markets is under pressure,a growing number of Indians are keen to buy homes abroad, particularly in the United Kingdom.
The Competition Commission of India (CCI) has closed the case against Taneja Developers and Infrastructure (TDI) related to allegations that the company was abusing its dominant position in the real estate segment in Mohali.
MCHI-CREDAI’s 6th India Realty Expo will be held at The Cumberland, Great Cumberland Place, London, next to Marble Arch Station, Behind Oxford Street; 15 & 16 September, 10 am to 7 pm. The event has been planned so as to provide the NRI community in the U.K. with some of the most ‘happening’ real estate investment option across India’s Urbs Prima Indies – Mumbai City, suburbs and its peripheral areas including sister cities like Thane, Navi Mumbai, Dombivli Kalyan, Mira Virar among others – as also realty options from the neighbouring city of Pune and select properties from the land of Sun, Sand and Surf – Goa.
Further insight on the current state of the Indian economy will be provided with the release of July industrial production data on Wednesday 12th and August WPI (inflation) on Friday 14th. Recent news flow has generally been a little downbeat but the picture is not a uniform one.
In a bid to check the mushrooming growth of slums in the state, the Odisha government is planning to create rental housing at an affordable monthly rent of up to Rs 2,000 for the poor.
Ekta Kapoor’s Balaji Group has now entered Mumbai’s real estate market with two projects- a commercial complex in Chandivli, Andheri East, and a residential one in Mira Road – both being handled by her father and yesteryear star Jeetendra through group firms Balaji Developers and JK Developers.
With overall vacancy increasing and business and investor sentiment low, why are office rents in many micro markets in Mumbai still increasing? In the recent past, many corporate decision makers have been wondering aloud why the rents and capital values in markets such as Lower Parel and BKC have risen in the last 4-5 months.
Interest from international real estate investors in Indian real estate has been limited in 2012. India has witnessed 6% q-o-q growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%, however China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
Not all experts and analysts are bullish in a country which has just two of world’s 276 skyscrapers. Prof PSN Rao, Professor of School of Planning and Architecture has a different take when he says high rise buildings look good in the urban city scape. However, in terms of the power they consume, the high initial costs of construction and high periodic costs of maintenance, perhaps they are not viable for residential structures.
The US Government has hired property consultancy Knight Frank to assess the valuation and strategic review of all its real estate properties in India. The properties, which house embassies, consulates, offices, residences, schools and libraries at prime locations across Delhi, Mumbai, Hyderabad, Chennai and Kolkata, were acquired over the years and are estimated to be approximately worth thousands of crores.