Track2Realty-Agencies: The government should take steps to monetize under-utilized land resources of public sector enterprises, port trusts and railways, a panel set up to chart out the roadmap on fiscal consolidation has recommended.
Track2Realty-Agencies: More than 70 builders across India will showcase their properties at Times Realty India-2012 event to be held on Septmber 28-29 at J W Marriott Hotel, Deira.
Track2Realty-Agencies: Investments in gold have yielded higher returns compared to those in equity and real estate in India during the last three years, according to a study.
Track2Realty: The top six cities of India are expected to see a total of 50,000 new hotel rooms across categories in the next 5- 6 years. This is in response to the steady growth the hospitality sector has recorded over the last few years. 2012 alone is expected to see 14,800 fresh keys by the end of the year. Out of the total expected supply for 2012, 2000 new hotel rooms have already entered the market. These are the findings of a report by Cushman & Wakefield (C&W)and Confederation of Indian Industries (CII).
Track2Realty-JLLI: Recently, the annual GDP number (6.5% GDP growth during FY April 2011-March 2012) released by the Reserve Bank of India resulted in a negative sentiment throughout the real estate industry. Consistent with this, in 1H12, the demand for commercial real estate moderated on the back of office occupiers that remained cautious about their expansion plans.
Realty sector has welcomed the the RBI’s decision of slashing the CRR rates by 25 basis points to 4.50% with a guarded optimism. The statement from the Prime Minister’s Economic Advisory Council (PMEAC) that the RBI move to infuse liquidity in the system is “more potent” than a cut in interest rate and it will help banks expand credit portfolio seems to have few takers in the sector.
The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.
Asia and Latin America’s economic resurgences have fueled an upturn in retail activity, with increasing rents reflecting high demand for the limited amount of prime retail opportunities in both regions, according to A Global Perspective on the Shopping Center Industry, a new global retail report from Cushman & Wakefield and the International Council of Shopping Centers (ICSC).
The Finance Ministry will meet chief executives of leading banks today, Sep 17, to discuss credit flow to the real estate and housing sectors. According to sources D K Mittal, Secretary of Financial Services, will chair the meeting of bankers, which will take stock of credit flow to the sensitive sectors.
To protest against the decision of the Union Government to allow FDI in multi-brand retail, the Confederation of All India Traders(CAIT) and Bharat Udyog Vyapar Mandal have called for a Bharat Trade Bandh on 20th September,2012 in which they claim that about 5 crore traders and more than 10 thousand trade associations across the Country will participate.The Traders have appealed all national and regional political parties to extend their support to Bharat Trade Bandh call.