Below the line marketing company Theme Ventures has signed a group of well-known real estate companies in Mumbai to sell the residential properties directly to the corporate employees by setting up shops inside the large work premises, the news reports said.
In the wake of the Competition Commission of India (CCI) imposing a hefty penalty of Rs. 630 crore on DLF, the anti-monopoly regulator has been flooded with a host of real estate related consumer complaints which may not be in the ambit of CCI. CCI should draw a line that bifurcates between what falls in its domain and what is in the consumer protection ambit. However, in the absence of scientific economic analysis of the relevant market, both in product category and geographic category, the two legs of the relevant market, the sector is keeping its fingers crossed as there has been a clear anomaly in defining the relevant market by the CCI.
The Competition Commission of India has found cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements including Cartels. The order was passed pursuant to investigation carried out by the Director General upon information filed by Builders Association of India.
The commercial rentals in the country have not seen vibrancy this quarter as some localities have witnessed rental price correction in Q1-12 when compared to Q1-11. However, the southern part of the country, and some localities in Delhi and Mumbai did see per square feet growth figures over a period of one year. Overall commercial rentals in Mumbai saw 2% increase in commercial rentals, Bangalore saw 3% growth and Delhi de-grew by 7% over the last one year. These are the findings of a study by property portal 99acres.com.
Various issues plaguing the real estate sector will be discussed at a conclave to be organised here on Friday by Confederation of Indian Industries (CII). The Real Estate Conclave 2012 will be inaugurated by Maharashtra Minister for Housing Sachin Ahir, CII said in a statement.
In a gruesome incident, real estate agent Dudhnath Verma has been blinded after an acid attack in suburban Mumbai. The incident happened on Monday, June 18.
Jones Lang LaSalle India has appointed Anurag Mathur as CEO – Project & Development Services and Head – Emerging Businesses. He was formerly Managing Director at Cushman & Wakefield, where he led pan-India operations. Anurag Mathur brings with him eighteen years of hands-on experience in diverse real estate services.
The Centre’s plan to regulate the real estate sector by safeguarding consumers from land sharks has hit a road block with several states opposing some provisions of a proposed bill. Track2Realty has learnt that in an effort to bring states on board, the Centre intends to drop the provision of giving direction to the States under the Real Estate (Regulation and Development) Bill.
Spiraling property prices and slump in home sales have forced the Union Housing Ministry to think out-of-the-box solutions. After the decision to set up a high-level committee to recommend policy interventions to facilitate creation of rental housing stocks, the ministry has now sought views from private developers and builders to evolve a strategy for reducing the time taken in approval of real estate projects that can help bring down the cost of houses.
Puravankara Projects Limited has ventured into the Kingdom of Saudi Arabia to cater to the Indian housing needs of NRIs residing there. With the increasing interest among Indians in the Kingdom of Saudi Arabia to invest in luxury and affordable luxury homes back home in India, Puravankara is now well poised to tap this potential market with a permanent presence in the Kingdom of Saudi Arabia through its new branch office in Al Khobar, Dammam.