Track2Realty: Sobha Developers, on a consolidated basis, registered a turnover of Rs. 10.08 Billion during the first half of FY 2013-14. The Profit before Tax (PBT) stood at Rs. 1.71 Billion, and the Profit after Tax (PAT) was Rs. 1.07 Billion. On a year-on-year basis, Revenues have increased by 18%, PBT by 21% and PAT by 12% from its operations.
Track2Realty: The 3C Company has aligned with Four Seasons Hotels and Resorts, the world’s leading luxury hospitality company to present Northern India’s first Four Seasons Hotel and Private Residences. The strategic partnership between the two companies was sealed with an exclusive agreement for 25 years, thus ensuring that this would be the only Four Seasons Hotel and Private Residences in Delhi NCR for the agreed term.
Track2Realty: The overall vacancy levels in malls declined by 0.6 percentage to 14.51% on account of consistent leasing activities while supply has been only 0.77 msf gets added in Kolkata and Pune, says a retail report by Cushman & Wakefield. Healthy transaction activity led to reduction in overall mall vacancy of Pune and Kolkata despite the addition of fresh mall space in both the cities.
Track2Realty Exclusive: While the property markets in other parts of the country are busy with festive offers, Coimbatore real estate is showing no signs of gift, freebies and other marketing lucrative schemes. Prima facie it may seem like the festive buying of homes is not a reality in this part of the world, and hence no developer is bothered to lure the home buyers with gold coins, cars, foreign tours or outright discount.
Track2Realty Exclusive: Some of the developers believe that being a responsible corporate entity CSR forms a very important aspect of their day to day functioning. For example, Kamal Khetan, CMD, Sunteck Realty says they have formed Sunteck Foundation that is a dedicated entity which under its umbrella supports various initiatives that lead to social betterment.
Track2Realty: top eight cities witnessed total estimated residential unit launches of 132,000 units between January to September 2013 which represented an increase of 5% as compared the to the same period for 2012, says a report by Cushman & Wakefield (C&W).
Track2Realty: Thapar Builders have launched their new residential project, Arthah, the first 26-storey residential complex in Vaishali at Ghaziabad. Arthah has been designed by architectural firm, Morphogenesis and it is close to the Vaishali Metro Station.
Track2Realty: Cushman and Wakefield has been appointed as exclusive marketing partners by Equinox Realty, the real estate arm of Essar Group, for Villas In The Sky range of apartments at Water’s Edge in Hebbal, Bangalore. These super premium homes christened ‘Villas In The Sky’ are luxury four bedroom apartments with study that come with exclusive features such as a private elevator, lap pool and Jacuzzi, raising the luxury quotient.
Track2Realty: The announcement by the markets regulator Securities Exchange Board of India (SEBI) to introduce a separate regulatory framework under the proposed draft SEBI (Real Estate Investment Trusts) Regulations, 2013 has brought cheers to the real estate sector. And if implemented, REITs can bring back the growth to the sector, said industry experts, who gathered at the RICS Real Estate Conference 2013 – Regaining Business Confidence. The conference was organized on 25thOctober 2013 in Mumbai.
Track2Realty Exclusive: We have been through three key stages of evolution in facilities management in India and now stand at the cusp of the fourth, and most exciting, one. The first was prior to the growth years for India and existed from independence to around the mid-1990s.