Mumbai real estate, often criticized for getting saturated, has been rather blessed with a number of hidden jewels. The city is sitting over some of the under-valued and lesser-known micro markets that are set to transform into property hotspots pretty soon. The cynics who thought that the peninsular city is left with no scope of horizontal growth have probably not visited any of these places.
Market dynamics are changing and we are aware that urban population is rising, more so in India. There is massive shortfall in infrastructure and urban housing. Due to climatic change and rising environmental concerns, more resilient buildings which are environment friendly will be required. There is also a perceptible change in the way people live, work and play. People are living longer; households are getting smaller; there is increased mobility; and of course technology is transforming the way people think demand the kind of homes they want and carry on with their lifestyle. Keeping all these in mind, we have taken new initiatives at Sobha to stay ahead of the curve.
So, you have been blaming the builder for end-to-end problems that you have encountered before and after settling in your dream home. Cost of apartment, delay in delivery, mismatch in promises & performance, costly maintenance and poor facility management, the list goes endless. More often than not, the grievances are legitimate.
Does it any way suggest that Kolkata has come up to luxury landscape and ultra luxury property pyramid due to lower ticket size. Conservative industry estimate, on the contrary, suggests that the city has been witness to 20% rise in sale of luxury properties amidst the overall slowdown.
The joint venture, Krisumi Corporation Pvt Ltd, will develop large scale real estate projects across India beginning with ‘Krisumi City’, an 18-million sq ft development which will be developed with a cost in excess of US$2 billion. Both partners will hold 50:50 stake in this JV company.
The entry of corporate giants into the real estate space is all set to take the Noida growth story to the next level. Already, Godrej Properties and Tata Housing have entered into Noida market through a joint development model. The market buzz has it that a couple of more corporate giants are to soon announce their Noida entry.
The moot point in Noida Extension today is whether the locality would be able to cope up with the influx of 3 lakh plus families. Most of the urban planning experts in this part of the world maintain that unless the Greater Noida Authority gets into a fast forward mode to execute the planned infrastructure projects living in Noida Extension would be challenging in the days to come.
It seems the Union Finance Minister Arun Jaitley has failed to address the struggling and ailing real estate sector from the standpoint of both the homebuyers as well as the developers. However, what is all the more interesting is the fact that the developers are not overtly complaining. It is only the homebuyers who are sulking while the developers are trying best to put up a brave face.
ZiffyHomes, a Gurgaon-based home rental marketplace has raised seed funding of INR 2 crore from Individual investors. The round was led by Bikky Khosla, Angel Investor and CEO at TradeIndia.com and Anirudh Agarwal, Managing Director at Shree Sharda Group. The duo will also join ZiffyHomes as Board Members to mentor the team for fast growth.
Some call it market intelligence and not due diligence where the focus should be more on the micro markets than general trends which could be misleading. However, there are many grey areas where in the absence of proper research and reliable data even the assessment of ground realities is not feasible.