Track2Realty-JLLI: Recently, the annual GDP number (6.5% GDP growth during FY April 2011-March 2012) released by the Reserve Bank of India resulted in a negative sentiment throughout the real estate industry. Consistent with this, in 1H12, the demand for commercial real estate moderated on the back of office occupiers that remained cautious about their expansion plans.
Declining property sales coupled with stretched balance sheets is bound to remain a concern in the short-term, leading to a moderation in property prices in some markets, says a report by market research firm Knight Frank.
The government plans to bring unorganised property agents and brokers under the ambit of the proposed real estate regulator, imposing stringent penalties including imprisonment on those who dupe buyers or operate without a valid registration.
No end to the global housing market downturn is in sight, except probably in the US, according to a survey of global house price trends by the Global Property Guide Asia is weakening, and house price falls in the worst-hit European crisis countries are dramatically accelerating.
UGL Limited has announced that its property services business, comprised of UGL Services (including the Unicco, Equis and Premas operations) and DTZ, will be united under a single global brand. Since 5 December 2011, when UGL acquired the trading operations of global real estate services company DTZ Holdings plc, the two companies have cobranded as UGL Services and DTZ.
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.
Foreign investor purchases in freehold projects in Dubai are still dominated by Indians who have retained the number one spot since foreign ownership regulations were applied, a new research has revealed.
Runwal Group, has reportedly purchased Neosym Industry Ltd, a metal manufacturing company located on LBS Marg in Bhandup owned by Kolkata industrialist C K Birla’s family.
According to the latest RICS India Commercial Property Survey, sentiment in the Indian real estate market has been adversely affected in the second quarter, as the economic picture in the country continues to remain bleak with the declining value of the rupee and growth forecasts being revised lower, along with a deteriorating global climate.
If you think prime locations in the NCR have hit the roof and you missed the dream rally in having a reasonably priced home, there is no reason to look at the secondary locations. In an expanding National Capital Region (NCR) while some of the locations deter you due to its less appreciation potential or controversies galore, then probably your property hunt has not led you to the destination next of the region—New Gurgaon.