Track2Realty: Omkar Realtors & Developers, one of the leading players in making the slum redevelopment a success story in Mumbai believes slum projects are generally feasible in Metro Cities and more particularly in Mumbai. Shifting focus on Slum Rehabilitation for ECB will really help the sector.
Track2Realty: Godrej Properties signs a development management agreement for a project on Whitefield Main Road. The agreement is with United Oxygen Company Private Limited to develop their property situated near Hoody.
Track2Realty: Despite an 83% drop in supply of organised retail space across key cities in the country, 2012 continued to witness an increase in transaction activity and retailer expansion. According to the findings of CBRE’s latest report “Indian Retail Market View H2, 2012”, approximately 2.5 million sq.ft. of fresh retail space entered the market in 2012, mainly concentrated in Bangalore, Kolkata and Pune, as against over 15 million sq.ft. in 2011.
Track2Realty: MCHI CREDAI has appealed to the Maharashtra Government to slash the ready reckoner rates that form basis for stamp duty.
Track2Realty Exclusive: Some property analysts have been critical about such group-buying websites, stating that they have an unsustainable business model. “Considering the nature of the Indian realty sector, which had tainted its image in numerous corruption scandals—and the rising interest rate regime, which has kept consumers away from buying such properties, such sites are expected to generate very little offtake from a consumer. Again, a prospective costumer may get some deals and discounts through one-on-one direct physical negotiations as well,” says Kamal Kapoor, a property advisor.
Track2Realty: Homestead, the London-based real estate company, has associated with top Sports Icon, Maria Sharapova for a Gurgaon project. After ‘Michael Schumacher World Tower,’ that was endorsed and supported by Michael Schumacher, Homestead now associates with Maria Sharapova for their their second upcoming luxury residence.
Track2Realty: Real estate sentiment remains fragile, most notably in the occupier markets in Europe, as the global economy continues to face strong and persistent headwinds. The recession in Europe, coupled with only modest growth in the US and a slowdown in China has resulted in global economic prospects being no more certain than in the previous quarter. These are the findings of These are the findings of the latest RICS Global Commercial Property Survey.
Track2Realty: Homestead, the London-based real estate company announced the launch of Michael Schumacher World Tower in Sector 109, Gurgaon. Spread over approximately 5 acres, this project will consist of 28 high rise floors and offer about 100 homes. Customers can choose from a range of sizes done in the most tasteful manner. These homes have high efficiency in terms of areas offered and have the best specifications offered till date.
Track2Realty: MCHI-CREDAI has embarked on an ambitious four-day property exhibition from November 01, 2012 showcasing flats, bungalows and commercial offering from across Mumbai city and the Mumbai Metropolitan Region.
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.