Track2Realty-Agencies: The government is likely to come up with a Bill in the forthcoming Budget Session of the Parliament to regulate the real estate sector, Housing Minister Ajay Maken said on Wednesday, Dec 9.
Track2Realty Exclusive-Yearly Analysis:During the boom, many developers dreamt of transforming the urban landscape with millions of square feet of homes, offices and malls and set off on an aggressive expansion financed with debt that at 6 per cent interest was cheap by Indian standards. When the going was good, they went overboard with over ambitious big-ticket projects in various cities, many of which still remain stalled.
Track2Realty: The government is working on a proposal to allow Real Estate Investment Trusts (REITs) to participate in the country’s rental housing market.
Track2Realty-Agencies: After some neglect in the past several years, the realty industry in India finally saw some reforms that had a direct and indirect impact on its fortunes and which led to the some development of the sector in 2012. The prospect of a revival looks brighter once the central bank keeps it promise of cutting interest rates to spur overall growth.
Track2Realty: A cautious RBI decided to keep key policy rates untouched, and the sector reacted insipidly to the RBI’s decisions, which were taken after its mid-term quarterly policy review. While many financial analysts termed its move as “over cautious” one and said that they were expecting a cut in key rates, realty reeling under a whole lot of issues and living on a wish of market revival in the year ahead said the decision to leave policy on hold has no immediate implications for the real estate sector.
Track2Realty: India’s top 25 real estate companies have reported 4% year-on-year decline in cumulative revenues of Rs 67.44 billion in the second quarter ended September 30, another quarter highlighting the slump in the sector, a Knight Frank India report said.
Track2Realty-Agencies: Mantri Realty on Friday, Dec 7, said it will invest up to Rs 750 crore to develop three housing projects in Maharashtra and Karnataka over the next 2-3 years.
Track2Realty-Agencies: Blackstone Group LP is starting a new real estate fund focused on Asia as it seizes on a “golden moment” to buy and sell in the property market, its president said on Wednesday, Dec 5.
Track2Realty Exclusive: The social media is a huge enabler. Even though in India its reach is hampered by three factors: Low PC numbers, lack of electricity and low literacy, it is making its presence felt. How does it affect the real estate sector? Or in other words, how its reach is different to realty vis-a-vis other sectors?
Track2Realty Exclusive: The real estate, like any other business or even the government, is suddenly faced with the reality of Facebook and Twitter that have helped the buyers harness the true power of their opinion. Ignored customers now have a platform to air their grievances and take on big companies.