One can also ask the broker about his networks by enquiring about all the areas where he practices. A qualified broker will be able to tap a wide network of other brokers, builders and individuals in a short time. One should check with the broker if he is an authorized agent for any developer.
Land is scarce and the only way in urbanisation is to go up where more FSI/FAR would mean increasing the supply and bringing the price down, goes an old philosophy of the Indian developers. In reality, nearly all the high rises across the Indian cities are high-end luxury projects and seem to fulfil the aspirational needs of the Richie Rich.
Pranay Vakil: The problem is when having sanctioned the loan, there is no fear of revoking it. You can change your mind because these funds are kind of committed. When engage Shapoorji Pallonji or L&T to execute a project, you enter into a contract and you say that this is how we are going to make payments. Suddenly, if you are to switch off the tap, it is going to cause a lot of embarrassment to the developer.
Realty major DLF may not extend sponsorship to the Indian Premier League (IPL) after its first five-year deal expires this year. According to DLF sources, they have conveyed this to the Board of Control for Cricket in India (BCCI).
The private equity firm ASK Property Investment Advisors has bought 49% stake in Godrej Properties’ Chembur project.
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.
All areas of Mumbai and Navi Mumbai witnessed an appreciation in rental values when we compare rentals of a 3BHK residential apartment in Q1-12( Jan- Feb- Mar 2011) over Q1-11(Jan-Feb-Mar 2010), says a study by realty portal 99 acres.com. Mumbai as such has always been in the forefront when it comes to rental values of properties. It has in the recent years witnessed a record rise in rental values which is at par with some of the highest real estate rental rates in the world.
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
Identifying a good and reliable broker is the first step in your entry into the property market. However, there are no defined policy guidelines in this highly disorganized business and Track2Realty suggests that one has to be careful judging the intent and credentials of the broker with certain tangible and intangible parameters.
ITES and BFSI continue to be primary demand drivers of office space in India in 2012, says DTZ Occupier Perspective: India Office Demand and Trends Survey 2011. It says Delhi NCR and Bengaluru preferred by IT/ITES while Mumbai is BFSI’s favourite. Tier II cities of Bhubaneswar, Chandigarh and Jaipur preferred by IT/ITES; Ahmedabad by BFSI’s favourite; Gurgaon is the preferred micro market in Delhi NCR.