The home buyers have for long alleged that the RERA has failed to provide them substantial relief in the wake of project delay or defaults. Now the Allahabad High Court has also taken cognizance of the issue and has not only questioned reasons of non-execution but also asked for the roadmap as to how RERA Recovery Certificates would be executed.
Apart from data centers, there is likely to be more focus on greenfield assets in the industrial sector in 2022 led by strong demand from E-commerce companies. The Industrial and warehousing segment saw investments at a five-year high at USD1.1 billion. Green financing through green bonds will also see greater acceptance this year in India as developers, asset owners and investors turn their focus to sustainable development. This trend has further been accelerated by the pandemic across geographies.
Within the built environment of the Indian real estate there is still denial about too many parallels between the Indian and the Chinese real estate. Many even believe that the Indian economy is not that real estate dependent as the Chinese economy. Even when admitting the crisis in Indian real estate, it is diplomatically wrapped in the developer’s justification of not learning any lessons on part of the Indian developers.
The concept of “Shared Economy” got severely tested during the peak of the pandemic. Factors such as uncertain economic conditions resulting in loss of jobs, work from home and the shift of migrant population to their respective hometowns in the wake of the Covid-19 outbreak brought the evolving Co-Living sector to an immediate halt.
It is the story of a debt ridden real estate company that is financially overleveraged; gone beyond execution capabilities; has multi-city penetration; is into multiple businesses; and the promoters are just delaying the inevitable. The developer that you instantly recall is China’s Evergrande. It’s the talk of the town across the built environment of global real estate today. But wait! Has India not been witness to its own Evergrande moment (though on a smaller scale) in the past? Track2Realty speaks to cross section of industry analysts.
This raises a fundamental question as to whether wellness is possible only with the luxury housing or affordable housing too can incorporate it. Within the built environment of the Indian real estate it is generally accepted that wellness is an aspiration concept but it can be incorporated into affordable housing as well. This would require focusing on some of the key elements right from the planning stage. Some of the real estate companies with international exposure are now working towards cutting down their carbon footprint apart from focusing on the other aspects of wellness.
There are multiple factors why the home sales in monsoons are subdued. One obvious reason is that the Indians traditionally don’t make any high value purchases after Akshay Tirtiya and before Ganesh Chaturthi. Since a home is the most emotional & aspirational product; is life’s biggest purchase; and is in most of the case for the lifetime; the Indians prefer to wait till the beginning of the festive season. Inauspicious period of Shraddh and Pitripaksh also falls during the monsoon season, where the traditional belief is that any new purchase will invite the curse of the ancestors.
India’s office market space leasing moved at a measured pace as most occupiers halted their expansion plans in the wake of the unanticipated second wave of the pandemic that hit the country earlier this year. Consequently, leasing activity across six major cities in India during the first half of 2021 dragged to a six-year low, according to the latest half-yearly report ‘India Market Watch Office’ by international real estate advisory firm Savills India.
He has experience working across diverse asset classes and markets, advising leading domestic and multinational owners, investors, and occupiers. Based in Mumbai, Ramesh will partner with Sankey Prasad, Chairman & Managing Director of Colliers in India, to lead the business.
Berkshire Hathway HomeServices, the real estate brokerage arm of global investor Warren Buffet has entered into the Indian market through its tie-up with Orenda India. Sanya Aeren, its Chief Advisor-Marketing & Communication, says the global best practices of Berkshire and the huge untapped opportunities in the Indian market would position this alliance into the top league. In an Exclusive Interview with Ravi Sinha, she spells out her plans to organize the property brokerage, penetrate deep into the market and also give a new experience to the investors. Excerpts of the interview: