Tata Realty and Infrastructure Ltd (TRIL) proposes to invest over Rs 1700 crore in two to three years for various projects in the country, including Rs 550 crore in Kochi for a premium waterfront residential property, ‘Tritvam’, at Marine Drive.
Aiming to promote excellence and bring in global standards in real estate arena, developers body CREDAI has announced an institute for research & professional studies and educational scholarships for needy students pursuing higher education.
DLF’s Chairman K P Singh has said that RBI’s monetary policy should not stunt the growth of real estate sector and uninterrupted access to affordable finance is vital for this business.
The Union cabinet may introduce the final version of the much awaited Land Acquisition, Rehabilitation and Resettlement Bill in the monsoon session of Parliament. Earlier, the ministry had sought suggestions and recommendations from other ministries and government agencies on various provisions introduced in the Bill.
The institutional projects in India are normally working in a PPP model because such projects have long payback periods and require large capital investment. Further, they are large in size and hence require number of approvals, making Government participation relevant to secure initial approvals, clearances and get the project going.
The RBI, on Tuesday, July 31, kept the repo rate or the rate at which banks borrow from RBI unchanged at 8% and also the reverse repo rate at which, the banks lend to RBI unchanged at 7%. However, it has lowered the statutory liquidity ratio (SLR) to 23% from 24% earlier. The realty sector, reeling under liquidity pressure and low demand due to high interest rate, has reacted sharply over this status quo.
Despite buyers’ expectations of a likely fall in city property prices, this possibility seems limited as developers continue to hold on to their prices across sub-markets on the back of the DCR amendment. This policy, along with the increase in construction costs, has led to greater pressure on developers’ margins. Post the new DCR, the saleable areas are expected to reduce and carpet areas are likely to increase. It is interesting to note that while there have, in fact, been marginal price increases across many projects in MMR, registration data reflects that absorption levels have also increased.
Pune has been a favoured industrial destination for a very long time. In fact, manufacturing has been a major development focus for the city since the inception of PCMC in the 1960’s. Since then, there has been a massive influx of European companies who were and continue to be keen on setting up manufacturing facilities there.
Pointing out that real estate development can revive the sagging economy, developers’ apex body CREDAI has called for launching a mission to make India Housing Surplus from the current status of a housing deficit nation by 2020.
In the past, Ahmedabad – the largest city of Gujarat – was largely thought of as a trading hub with localized market drivers. Today, we can confidently state that nothing could be more further from the truth. Jones Lang LaSalle India made a well-researched move when it launched operations in Ahmedabad in 2009. The decision to enter the city was based on its unmatched promise as a potential real estate investment destination, which factored in the city’s healthy local demand, as well as its outstanding industrial story.