Track2Realty Exclusive: India, although not by plan, is experiencing a boom in once relatively obscure cities. Its rising urban centers are not confined to four metro cities or Bangalore and Ahmedabad, and load on urban land and overall infrastructure demands India must take learnings from global experience of redevelopment.
Track2Realty Exclusive: A single window clearance cell, akin to the Security and Exchange Board of India (SEBI) for the securities market in India, should be established. A unified point of clearance such as this will minimize project delays by reducing the builder’s run around time in obtaining clearances.
Track2Realty: NCR retail real estate market remained largely stable as per the latest retail report from real estate consultancy Cushman & Wakefield. A few locations in both main street as well as malls saw some appreciation in rental values. Connaught Place (Inner Circle) recorded an increase of 12% while prime malls across Delhi NCR saw a positively rising curve following robust demand for the same.
Track2Realty: Constellation Capital Ltd and S.A. Finvest Ltd, the promoters of realty firm Omaxe Limited, have fixed the floor price for its offer-for-sale (OFS) at Rs. 148 a share.
Track2Realty Exclusive: Sachin Sandhir, Managing Director-South Asia of RICS and a vocal spokesperson of the realty reforms agrees there is an element of subjectivity and a fine line, when industry stakeholders organise awards – as it can lead to a conflict of interest. He, however, defends awards that are based on actual performance indicators and tangible evidence. Track2Realty probes for an insight—
Track2Realty Exclusive: The debate of promoter versus professional driven realty companies gained momentum in the year 2012 because high attrition at the top level of realty sector has been in the news throughout the year. The Managing Directors of Indiabulls Real Estate and Peninsula Land quit in the month of October. So did the real estate heads of two property funds, Indiareit and Everstone Capital. Most of them either moved to other realty companies, starting their own ventures or shifting streams to join consultancies.
Track2Realty Exclusive: While the provision of a real estate regulator snowballed into a political controversy over the jurisdiction of centre-state relations, some sector analysts believe the developers have hurt their own cause by stiff resistance to the appointment of a central regulator.
Track2Realty: The voice of the real estate industry in Maharashtra, MCHI-CREDAI today opposed the Government’s decision to introduce LBT saying it goes against the home buyers’ interests.
Track2Realty: Opposing the Maharashtra government’s decision to impose local body tax (LBT) in lieu of octroi, developers’ apex body CREDAI Chairman Lalit Kumar Jain said the new levy will result in rise in corruption and be detrimental to business as well as consumers. There is a potential threat of it becoming breeding ground of corruption.
Track2Realty Exclusive: Awards have often been the source of sulking within the business community. However, when it comes to real estate, one has got absolutely no reasons to sulk as awards are not just rigged but customised for the companies at a cost. Track2Realty finds while some buy it for recognition, brand promotion or just notional value; others dismiss the offer being aware that m0re than they needing the award, such trophies need their brand value for establishing credibility.