Abu Dhabi Investment Office (ADIO) will also support International Real Estate and Investment Show (IREIS) as Strategic Partners in organizing the “Abu Dhabi Investment Forum 2018”, a specialized investment conference with a lineup of topnotch global experts, renowned academics, and seasoned practitioners to enlighten audiences with Abu Dhabi’s current investment trends and potential opportunities.
Now that the Real Estate Regulation Act (RERA) brings the brokers into its ambit, the question that still stands is: What are the grey zones left which are not defined in the prescribed Act? What if the broker or builder has made the verbal promises to the buyer? What would be legal position if the marketing firm/broker misleads the buyer without the knowledge or consent of the builder?How can buyer be compensated if he has bought the property on the promise of misleading claims?
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.
It is more of bad news than good news for the developers as far as their efforts to entice the NRIs is concerned. The good news is that the outlook of the expat Indians towards the Indian real estate is changing; the recent policy reforms have made them more optimistic about the property market back home. But the bad news is that they are yet not ready to commit for property purchase in India.
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.
This was also the first quarter where the new accounting standard of IND AS 115 was followed by the company, which uses the project completion method instead of the existing percentage completion method. While some fluctuations in reporting the income are expected, there is no impact on the company’s cash flow or income tax liability, as the company continues to follow percentage completion method under Income Computation and Disclosure Standards (ICDS) for income tax purpose. In other words, it is a compliance requirement which will not have any impact on the overall business of the company. We are confident that on completion of some of the ongoing projects in this financial year, the overall income growth momentum will be maintained
In terms of price point luxury properties in Dubai are more attractive than any such option in Mumbai and Bangalore. Moreover, the kind of rental returns that are there in the gulf city is no match to any Indian city. Add to it tax-free returns and attractive capital appreciation and your cost & benefit analysis is heavily loaded in favour of benefits. Last, but not the list, is the quality of life in Dubai
Provident Housing, a Puravankara Company, has announced the integration of Artificial Intelligence into the business, by introducing its two very own robots – Mitra and Mitri.
I often question how will honest journalism survive in this eco system. It is not that I don’t face the challenges and resistance of not being a party to this cartel of corruption. Forget the builders, even a large section of builders’ ‘paid & pet’ journalists have issues with me. I am, after all, a game spoiler for them who is spreading the negativity with brutal honest and ruthless journalism.
Welcome to the world of Corporate Social Responsibility (CSR) in the Indian real estate. The ground reality is that the real estate companies today get into CSR for fulfilling mandatory provisions and/or tax adjustments than any real concern for the society.