Track2Realty Exclusive: Many believe the current level of housing inventory is limited and hence many of the companies are launching their projects in phases. The current spate of launches in Mumbai has opened up an inventory of 5,000 plus premium residential apartments aggregating Rs 7,200 crore at market average of Rs 12,000 per sq ft. A majority of the inventory on offer is for the premium residential segment.
Track2Realty Exclusive: The Mumbai property market seems to be determined to break the jinx this festive season with new launches, offers, changed marketing formats and even price correction. If the market trend so far is any indication, it is quite apparent that the developers have gone through the learning curve in the last 2-3 years and are now determined to break the jinx. In this endeavour to bounce back, buyers are smiling all their way to property search and in the process the city property market is defying the collective consciousness of being an over-heated realty market.
Track2Realty-Agencies: Canada-based NRI billionaire, Bob Dhillon is considering investing up to $100 million (about Rs 540 crore) in the Indian real estate market and is planning to approach the Haryana Government for developing a township near Chandigarh.
Track2Realty-Agencies: Realtors have sought to bring up incentives like free land allocation and public-private partnerships models to increase affordable housing stocks for the economically weaker sections.
Track2Realty: Calling for an end to a series of windows of corruption, developer apex body CREDAI has suggested the proposed Realty Regulator should also work for minimizing the human interface in the process of granting clearances and registrations.
Track2Realty-Agencies: Realty firms and property consultants have expressed disappointment over RBI’s decision to keep key policy rate unchanged and said it was the right time to bring down the borrowing cost for home buyers as well as developers.
Track2Realty-Agencies: Demand & supply mismatch is proving to be the burden for developers now, at least in the funding market. Most of the PE deals in the year so far has fallen into residential projects. PE players are investing in projects for shorter duration and with better cash flows.
Track2Realty-Agencies: The Union Cabinet on Thursday, Oct 25, once again deferred the Real Estate (regulation and development) Bill pending for approval since May last year.
Track2Realty-Agencies: The Union Cabinet on today, Oct 25, is likely to discuss the bill to regulate the real estate sector and also protect the interests of home buyers.
Track2Realty Exclusive: While the Vijay Kelkar Committee has strongly advocated in its recommendation to the Central Government that monetisation of the government land can finance the basic urban infrastructure needs, a move in that direction has set the tone for a fresh debate in Maharashtra.