Track2Realty: Over the past year, Mumbai continued to remain a preferred city for both domestic and foreign brands keen to open their first outlets or expand their presence across India. The city’s favorable demographics, along with the availability of investment-grade retail space, led to strong demand from retailers for shopping space.
Track2Realty: Globally, as project delays, cost overruns and liquidity constraints continue to trouble the real estate and construction sectors, Building Information Modelling (BIM) has emerged as one of the most reliable tools to eliminate challenges and reduce the capital cost and carbon footprint by over 20 per cent.
Track2Realty: Tata Housing, has announced the launch of its mixed use township at Colombo in Sri Lanka. The project in partnership with UDA (Urban Development Authority) of Sri Lanka will commence its operations with starting construction of residences for rehabilitation of the current tenants in the phase one and also launch a mix use development project at slave Island in Colombo. The company will invest over $ 400 million for the project.
Track2Realty Exclusive: Prophets of doomsday in Mumbai who till only recently have written off the growth of the city and its realty market due to saturation and infrastructural bottlenecks are today very apprehensive lot. The proposed industrial corridors promise to open the floodgates of new investment opportunities and make them eat their own words. Mumbai which has been facing stiff competition with certain other emerging markets is expected to redefine the financial capital of the country once the first corridor Delhi-Mumbai Industrial Corridor (DMIC) project is over and investors find avenues like gold mine on the ground.
Track2Realty: Oberoi Realty has announced its results for the fourth quarter of FY14 and full year FY14. The company has recorded consolidated revenue of Rs. 855.51 crore for FY14 as against Rs. 1,147.52 crore for FY13. The consolidated revenue is Rs. 228.49 crore for Q4FY14 as against Rs. 185.95 crore for Q3FY14 and Rs. 325.99 crore for Q4FY13.
Track2Realty Exclusive: With a vision to make India a housing surplus nation from being the housing shortage country, CREDAI has been campaigning to make the business environment congenial for growth. But the realty bill, in its current form and shape, stifles the honest developer and scares away new entrepreneurs from entering the sector.
Track2Realty: Although the Interim Budget announcement supporting affordable housing was welcomed by the real estate industry, the segment has a long way ahead as yet. To begin with, there is considerable supply shortage in this arena—pegged at 18.78 million for the 12th Five Year Plan (2012–2017) by the Ministry of Housing and Urban Poverty Alleviation Ministry (HUPA), of which 96% is in the EWS and LIG categories. Housing shortage for the EWS stands at almost 11 million homes, while that for LIG stands at 7.41 million homes.
Track2Realty: Marathon Group has launched Marathon Nextown, a township project in Dombivli East, Mumbai that is conceptualised on its brand titled ‘NEX (Next generation Eco-friendly Xtra utility homes)’. With this project, the group claims to fulfill the dream of every modern buyer who aspires to have a spacious home with all the premium amenities and facilities and provides value to the money of the young home buyer.
Track2Realty: Knight Frank India in association with the Federation of Indian Chambers of Commerce & Industry today released its second set of findings of the quarterly Real Estate Sentiment Index. The first index that covered Q4 2013 was released in February, 2014.
Track2Realty: During 1Q 2014, commercial leasing in eight major cities recorded at around 8 MN SF including 1.7 million sq ft pre commitment from large corporates for future expansion. Cities like Bangalore, Delhi, Gurgaon and Kolkata witnessed increase absorption on qoq basis. Bangalore and NCR topped the chart contributing 75% in the total absorption. Bengaluru witnessed the highest absorption to the tune of 3.8 million sq ft followed by 2.3 million sq ft in NCR. IT/ITeS topped the charts and remained the primary demand driver IT/ITeS followed by Engineering and BFSI sectors.