Such misleading claims prima facie give an impression that the property market in the Indian cities in general, and Delhi-NCR in particular, have peaked up on the eve of long festive season ahead. The claims nevertheless raise more questions than could answer as to how and why there has been sudden spurt in the sales velocity.
In a move to strengthen its position as one of India’s largest student co-living companies, Stanza Living has raised a total of INR 73 crore (USD 10 million) in an investment round led by Sequoia India.
Sunil Goel, the second largest promoter and shareholder of Omaxe Group has alleged for financial fraud at Omaxe Group. He has filed a legal petition against Rohtas Goel, Chairman & Managing Director, Omaxe Ltd for malpractices and financial mismanagement carried out in the company allegedly by Rohtas Goel.
This is probably one of the wishful thoughts of the developers that have been over projected round the year (NRI investment being the other). But a ground zero study of the property market across the key cities indicate that the online property portals offering real estate deals may have made inroads like never before, this definitely is not the end of traditional brokerage or substitute of traditional format of selling through taking clients to see it and believe it.
The Indians seem to be quite aware of the challenges of mass housing, as is visible with nearly half of the respondent, 48 per cent questioning when land acquisition is going to be tougher how housing for all will be a reality.
Gone are the days when the overnight appreciation of property prices was enough for the fly by night operators to lure the buyers with glossy advertisements. The ROI of the advertising spend by the developers was calculated with the number of phone calls in return. The economic downturn leading to an end of era of quick appreciation, however, changed the market dynamics completely.
The Northern Peripheral Road (NPR), also known as Dwarka Expressway, is an 18-km stretch of road that is being developed under the public private partnership (PPP) model. This stretch will connect Dwarka Phase II and Palam Vihar to National Highway 8 near Kherki Dhaula and Pass Pataudi Road. This is a highly lucrative project that has been taken up by the Haryana Urban Development Authority (HUDA).
Paras Buildtech has lost the maintenance and management of Paras Downtown Square, Zirakpur to the Association of the unit holders/shopowners, pursuant orders passed by Additional Chief Administrator, Greater Mohali Area Development Authority (GMADA). The Punjab and Haryana High Court has refused any interim relief to the builder against the order.
As per Colliers International, the overall absorption for H1 2018 now stands at ~ 24 million sq ft. Bengaluru (Bangalore) continued to account for the highest share of absorption at 34% in Q2, followed by the National Capital Region (NCR) at 28%, Mumbai at 14%, Hyderabad and Chennai at 8% each, Pune at 6%, and Kolkata at 2%.
It is generally accepted in the Indian market that rental yields in the country are often much lower than elsewhere in the world because relatively few people seek rented homes: 66 per cent of homes in Indian cities and 90 per cent of homes in rural areas are owner occupied.