Track2Realty Exclusive: Samarjeet Singh went on a house hunt in Mumbai with the obvious expectations of entering into a buyers’ market. The reported stress and standing inventory of 48 months made him believe that this is the right time to negotiate the deal and also get the immediate possession with a record inventory available in the market.
Track2Realty Exclusive: As the country heads towards the General Elections with policy uncertainties expected to get clarity ahead once a new Government assumes office, it seems Indian real estate is yet again high on the wish list of the investors, both domestic and international. If the investments and the policy announcements since the second half of 2013 are any indication, there has been a clear indication that the phase of over-cautious market sentiments is getting over.
Track2Realty Exclusive: Has populism been behind the Maharashtra Government notification on affordable housing is the question that everyone within the built environment of real estate is today asking. There is a general feeling among the developers that the Maharashtra Government notification for the builders developing a housing project on a 4,000 sq m (acre) plot to reserve 20 per cent of the area for affordable housing is not in sync with the market reality.
Track2Realty: To improve responsible business practices in the land, real estate and construction industry, the United Nations Global Compact and RICS (Royal Institution of Chartered Surveyors) will jointly develop a best practice toolkit for the sector. The collaboration marks the UN Global Compact’s first initiative to address corporate sustainability in a specific sector following the recent launch of its Post-2015 Business Engagement Architecture.
Track2Realty Exclusive: If regulatory changes have been a cause of concern for the developers in the Gujarat real estate market, the political uncertainty prior to the general elections definitely threatens to prolong the slump in the realty market. Elections and real estate have a symbiotic relationship where elections bring a kind of stasis that is unproductive.
Track2Realty Exclusive: Funding, or rather lack of it, has been one of the key concerns of the real estate developers throughout 2013, yet if some of the key policy decisions that have been taken in the year it seems 2014 is all set to get big ticket funding. The money is poised to be invested in the sector and if not as private equity, the biggies will put in money through Real Estate Investment Trust (REIT).
Track2Realty Exclusive: Real estate gains are not always short-term but often long-term from investment point of view. The same can be said about 2013 where despite of an outside view dismissing the year 2013 for low sales velocity, piling inventory, liquidity crunch and policy ambiguity, added to the country moving to the General Elections in 2014, the sector has managed to pave the way for long term reforms.
Track2Realty: 2013 was one of much economic turbulence. High retail inflation, high interest rates and a continuous fall in the rupee value, have been slowing the overall growth and have continuously hindered the investment sentiment in the market during the entire 2013.
Track2Realty: The economic downturn has subdued office and retail markets, resulting in a sales slowdown as well as pressurized capital values across leading cities—according to CBRE Research’s year-to-date coverage of trends in India’s real estate sector.
Track2Realty Exclusive: Urbanisation is inevitable but when the very same model of development is rolled out haphazardly it also brings its side effects. Many urban cities across the country are witness to the fact with the loss of its traditional old world charm and eventually the city losing its very identity.