SEZ was originally conceived on the premises that it will be like an “Island of Excellence” with world class infrastructure available to the user at globally competitive prices. It was aimed to assist both Indian entrepreneurs as well as global investors wanting to set up their manufacturing and services bases inIndia.
Once seen as very powerful economic tool for catalyzing the growth process during restructure and liberalization of economy, Special Economic Zones (SEZs) in India could not replicate the Chinese success story, as assumed. Track2Realty takes a look on the future of SEZs in India as realtors make a beeline to exit or extend the tax haven, and the Government groping for fresh ideas.
The world’s housing markets moved clearly down during the year to the first quarter of 2012, according to the Global Property Guide’s latest house price indices survey. House prices fell in 24 countries, of the 36 countries for which quarterly house price statistics are available, and rose in only 12 countries.
Integrated townships can reduce the burden on infrastructure and provide a fulfilling lifestyle for buyers, at a much reduced cost all round. Gulam Zia, National Director – Research & Advisory Services, Knight Frank India points out, “Of late, the planning authorities and Government bodies have realised the importance of integrated townships and are giving special concessions for creation of such townships.
What goes into the strategic planning of an integrated township to make it a case study in flagship project? One such integrated township in Mumbai is Kohinoor City at Kurla Vidyavihar. Atul Modak, Head of Kohinoor City says, “What we considered was the need to provide plenty of recreational space and all ultra-modern amenities. It truly had to be a ‘city’ where all their needs and luxuries could be met.
Experts in the urban policy and planning are of the view that since none of the traditional solutions have worked, it calls for fresh approach and out-of-the-box thinking to make India slum free. Pranay Vakil, Chairman of Knight Frank India outrightly blames the ambiguous policies coming in the way of slum redevelopment. He says there is no dearth of expression of interest and even some of the international players had recently tied-up with the Indian partners for the same. He urges the Government for consistency in policy guidelines if slum free cities have to be a realty reality.
Babulal Varma, Managing Director, Omkar Realtors & Developers There are…
Economic intelligence agencies have informed the Finance Ministry that a major chunk of illegal funds and black money is being generated and routed in the real estate sector of the country.
Within hours of Track2Realty reporting that the much awaited Real Estate Regulatory Bill will not be tabled in the current session of parliament, the government has confirmed it by announcing that the Bill is likely to be presented in the next session of Parliament. The Bill is expected to be tabled before the Union Cabinet shortly, said Aruna Sundararajan, Joint Secretary, Union Ministry of Housing and Urban Poverty Alleviation.
The much-awaited regulatory Bill for the real estate sector will not be tabled during the current session of Parliament, a senior official in the Ministry of Housing and Urban Poverty Alleviation has confirmed to Track2Realty. The draft Real Estate Regulation Bill is still in the consultative process and the government is apprehensive that the states may block it the NCTC way.