With criticism ranging from alleged corruption in the defence deals to slow moving economy, the government that came to the power with these two major planks of fighting corruption and accelerating the economic growth is under pressure. The government is, therefore, left with no option but to present a budget that gives a feel good factor.
Gross leasing activity is recorded at 50 million square feet in 2018, highest in last eight years driven by buoyant leasing in Bengaluru and NCR. Compared to the previous year, gross leasing increased by 17% as occupiers continued to expand and consolidate. The top 3 sectors contributing to gross leasing were IT-ITeS with 43%, flexible workplaces with 14% and BFSI with 12% share.
National Real Estate Development Council (NAREDCO has requested Government to address the key concerns of the real estate industry and home buyers, offer tax incentives across housing segments and boost buyer’s confidence through a slew of measures in the upcoming interim Union Budget 2019-20.
It would be pertinent to note that raging infernos spared no one – be it rich or poor, residents of newly-built high-rises or the squalid slums, all fell victim to the scourge of flames which enveloped their structures, turning their cherished homes into death traps.
Young qualified professionals either do not opt for the sector, and even when they do so, they find it hard to continue in a business where the eco system is all about probability and uncertainty; forget about the lack of work culture. And hence, in most of the corporate offices of the developers it is easy to find old and grey-haired people than the vibrancy of the young work force.
The project named Atelier Greens, focuses on offering lifestyle beyond the carpet area, drawing inspiration from making spaces where art of living grows naturally.
The listing of India’s first REIT by Blackstone-backed Embassy Group has been in the offing for quite some time, but it now finally appears that it will be listed within the first half of 2019. As REITs await their official deployment in India, investors hoping to cash on this new avenue for generous ROI growth seek to understand what exactly is in store for them – and for the real estate market.
Track2Realty approached to a number of real estate developers who are offering assured returns. Though all of them refused to speak ‘on record’ but privately they admit that their assured returns have failed due to market dynamics than intentional cheating.
Virtual Reality technology combined with their proficient contracting ability, Flipspaces comes as a one-stop partner for clients who want to design their commercial spaces through Interior Design and Contracting. Their target market includes offices, restaurants, educational and financial institutions, and hotels.
The Government’s decision to allow 51% FDI in multi-brand retail and 100% FDI in single-brand retail under the automatic route was a definite crowd-pleaser that attracted giants like Walmart to make forays into the country.