Track2Realty: The Union Budget 2014-15 was presented in the parliament under economic circumstances that required tax revenues to keep pace with targets. Considering the state of government finances and the current situation – below-normal monsoons, Middle East tension leading oil price volatility, the weakness of the India rupee etc., there was not much room for populism.
Track2Realty Exclusive: Highly speculative markets are always highly susceptible to speculation as such markets are mostly sentiment driven. These are the markets where investors are by and large the project riders and hence the movements in the power corridors do affect the market to a great extent. Coimbatore real estate, on the contrary, is a market which has traditionally been neither susceptible to speculation nor the investors have been on prowl.
Track2Realty: The alarm on a tough upcoming budget was sounded when the newly elected Prime Minister said that “time has come to take tough decisions in the interest of the nation. Prime Minister Narendra Modi is taking all due measures towards his vision of a ‘Shresht Bharat’, amidst some calibrated tough measures.
Track2Realty: The reduced apartment sizes in new launches in 2014 have contributed to making prices more affordable. In the over 50,000 mid segment units (1 and 2 BHKs) of newly launched houses across top eight cities in Quarter 1 of 2014, most cities have seen a reduction in sizes of approximately 100 sf. This has led to an average drop of 6 percent in cost of the apartments within these cities, says a report by Cushman & Wakefield.
Track2Realty: Tata Housing strengthened its presence in the high-end luxury segment in NCR by launching its 4th project Arabella. Located immediately off the Sohna Haryana Highway, Arabella is inspired by the Aravallis and has been aesthetically designed as an extension to the lush green surroundings.
Track2Realty Exclusive: Reeling under compelling economic circumstances that call for financial prudence and tough measures, the first Union Budget of the NDA Government is still reason enough for the real estate sector to exude optimism. It seems the euphoria of a stable government at the Centre is running so deep that despite of the government taking certain tough economic measures before the budget itself and the Reserve Bank of India also not cutting the repo rate down in its recent monetary policy review, the sector is expecting rosy days ahead with the budget being the first catalytic point.
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: The sentiments in the property market are subdued across the country and the transactions have nosedived in most of the major markets. However, Gujarat real estate seems to be picking up to buck the trend otherwise and the sentiments are changing for the better. This is reflective in the transactions that are happening across the state.
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.