Atul Modak: Why did bankers’ lobby not block the mutual funds then?
Pranay Vakil: Because the mutual funds lobby is larger than the bankers’ lobby. They could not do anything about it. The companies into mutual funds are so large, they might just foray into banking.
Call it the fallout of Competition Commission of India (CCI) penalty on the biggest real estate company DLF in a Gurgaon case last August, there has been a rush of complaints at the CCI against several property majors since then. According to CCI officials at least 200 complaint letters came to them against real estate players, of them around 15 were official cases.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
The Union Budget 2012-13 has left the Indian real estate sector grope with the indecision yet again and everyone is wondering whether the Finance Minister’s offer is glass half full or half empty for them.
Our reaction to Union Budget 2012-13 is mixed at best. It seems fair to state that the Indian real estate sector does not have much to cheer about.
Ahmedabad stands out as a city that weathered the market slowdown most smartly and the property market of the city was the first in the country that showed signs of recovery by June 2009 itself. Since then realty in Ahmedabad is back and booming, with nearly 35% appreciation.
Netscribes, a knowledge consulting solutions company, announces the launch of its report Facilities Management Services Market in India 2012.
Replicating global trends, the Indian economy is looking towards an impending slowdown in growth due to decline in consumption expenditure, repeated hikes in interest rates and consistently high inflation.
In the environment of cut-throat competition which exists in the Indian real estate market today, developers without a forward-looking marketing plan for their projects often lose out.
In an effort to enhance professionalism in the industry, RICS has launched its Red Book of Valuation Standards and Global real estate agency and brokerage standards at the recently concluded real estate conference in Mumbai.