The demand fundamentals of the India story are now focused around all cities that have sufficient economic activity, be it industrial, service sector-driven or incentive-driven programs by the State Government. In Gujarat, which has seen considerable industrial progress, the key cities of Ahmedabad, Surat and Vadodara come readily to mind.
American property mogul Donald Trump targets India above other emerging economies, his son and business partner said, as the flamboyant tycoon looks to crack a notoriously tough real estate industry with his brand of luxury homes and hotels.
India’s growth story has many facets; one of the integral parts of growth – and arguably the most important one – is urbanization. In fast-growing economies, cities are significant investment and employment generators, which in turn carry the growth momentum forward. The sustainability and livability of any city depends largely on the quality of its infrastructure and real estate stocks. Needless to say, cities also require large sums of money to create urban asset stocks, including buildings and infrastructure.
Godrej Properties will redevelop 18 residential buildings in Chembur, Mumbai. The Company, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL), entered into an agreement dated January 18, 2012 with Kamla Landmarc Property Leasing and Finance Private Limited (Kamla) to undertake a residential redevelopment project in Sahakar Nagar, Chembur, Mumbai.
Mantri Developers has collaborated with Cisco to develop new ICT-enabled real estate models ‘Mantri Connected Communities and Smart Homes.’ This collaboration combines Cisco’s Smart+Connected Communities vision with Mantri’s experience as a pioneering smart urban developer to provide connected and sustainable communities and an enriched living experience to its residents.
Godrej Properties’ stock offering to raise up to $90 million received bids for 18 percent more than the shares on offer, boosting the outlook for a newly approved process that companies can tap to cut founder stakes.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project, according to the sources close to the development.
If only the secondary market was any indicator of real estate growth, the argument that that the real estate market is turning bearish in Chandigarh would have been true. But while the prices have softened a bit in the city, the beneficiary is the periphery of Chandigarh that makes the overall property market in the city very bullish and overall economy vibrant.
Sunil Dahiya: Pranay, the most important thing is the background of the investor from the developer’s perspective. My understanding may be a little limited because I come form the Delhi NCR market and as you know, it is a very localized subject. But being in the governing council of NAREDCO at the national level, where Knight Frank is knowledge partner, one of the presentations that we had in 2008 with the idea that where the industry has lost its bearing and funding was the main agenda.