Track2Realty: The Association of Bhopal Realtors (ABR) has recently joined National Association of Realtors of India (NAR India) as its member. NAR India is the credible voice of realtors in India. It is the single national level umbrella organization representing the interests of thousands of realtors/brokers operating all over the country.
The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.
Sending positive signs from easing the cash crunch for the realty sector, Secretary for Financial Services D K Mittal on Monday, Sep 17, asked the commercial banks to focus on funding partially completed projects on a priority basis and development of projects in small towns.
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
The Competition Commission of India (CCI) is reported to have zeroed in around 70 real estate developers around the country, including Unitech, Parsvnath Developers, and Omaxe for investigation against entering into one-sided agreements with buyers and for allegedly colluding with each other to arm-twist them.
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.
MCHI-CREDAI’s 6th India Realty Expo will be held at The Cumberland, Great Cumberland Place, London, next to Marble Arch Station, Behind Oxford Street; 15 & 16 September, 10 am to 7 pm. The event has been planned so as to provide the NRI community in the U.K. with some of the most ‘happening’ real estate investment option across India’s Urbs Prima Indies – Mumbai City, suburbs and its peripheral areas including sister cities like Thane, Navi Mumbai, Dombivli Kalyan, Mira Virar among others – as also realty options from the neighbouring city of Pune and select properties from the land of Sun, Sand and Surf – Goa.
Ekta Kapoor’s Balaji Group has now entered Mumbai’s real estate market with two projects- a commercial complex in Chandivli, Andheri East, and a residential one in Mira Road – both being handled by her father and yesteryear star Jeetendra through group firms Balaji Developers and JK Developers.
More than 1,000 registered attendees from around the world will converge in Shanghai next week for the 2012 ICSC Retail Real Estate World Summit. More than 70 speakers around the globe from companies ranging from Apple and Walmart to India-based K Raheja Corp. will be discussing the latest trends transforming the international retail real estate industry.
The Secretary, Banking, Ministry of Finance has agreed to look into the problems being faced by the real estate industry and work towards reducing the cost of funding through banks and financial institutions.