Track2Realty: The Bombay High Court on Wednesday, June 26, ordered the Mumbai police Crime Branch to file an FIR against four persons, including Hiranandani Developers co-founder and managing director Niranjan Hiranandani and two police officers, in a complaint filed by a 28-year-old woman from Powai.
Track2Realty: Where transparency broadens, real estate capital flows and market change follows. JLL’s eighth Global Real Estate Transparency Index, covering 102 markets worldwide, shows continued progress in the transparency of commercial real estate around the world.
Track2Realty: With the new government now firmly in charge of steering the country, the Indian economy is perched on the threshold of recovery and growth. The serious issues that have plagued the sector for so long may now be proactively addressed.
Track2Realty Exclusive: If SMEs presence is any indication of the scope of commercial property in the given region, Delhi-NCR’s east coast can easily claim to be a vibrant market for the commercial property. However, the tag of an affordable zone has till very recently been the reason why big ticket commercial investment did not fell into Ghaziabad, stretch of NH 24 or even Noida to a large extent.
Track2Realty Exclusive: The Government of India has been re-evaluating policy measures and modifying these or initiating fresh mandates in order to give a boost to the industry. Changes in policies pertaining to SEZs towards reducing area requirements, the easing of norms for external commercial borrowing (ECB) for development of affordable housing and the augmentation of limits for listed NCDs will go a long way in clearing bottlenecks faced by the sector.
Track2Realty: At more than US$150 per sq. ft. per annum, Delhi’s traditional central business district (CBD) of Connaught Place was ranked as the eighth most expensive office market in the world, according to CBRE Global Research and Consulting’s semi-annual Global Prime Office Occupancy Costs survey.
Track2Realty: In marked contrast to other cities, the dynamics of luxury housing in Mumbai have changed dramatically over the last decade. Delhi, Kolkata and Chennai continue to have location-specific premiums, which have risen consistently.
Track2Realty: Over fifty percent of real estate buyers decisions are influenced by Internet research. The phenomenon, of researching online for real estate information is not limited to metros but also extended to buyers in tier II cities, as per the study of Google India. The study was conducted to understand the influence of Internet on real estate purchase decisions in India.
Track2Realty: In India’s competitive real estate market, luxury housing projects have been launched aplenty over the last couple of years. So much so that a conservative market like Chennai, for instance, is likely to witness about 1,500 units of ultra-luxury homes—budgeted between Rs. 5–20 crore—within the next 12 months.
Track2Realty: Cumulative commercial real estate loans have tripled to reach INR 1.428 billion in the last six years up to November 2013, whereas individual housing loans doubled to reach INR 5.185 billion during the same period.