Trck2Realty Exclusive: Western suburbs of Mumbai are bursting at its seams, and its infrastructure facilities are outdated. Draining systems built in the times of the British era are still prevalent in the city. There is a dire need to overhaul this system.
Track2Realty: The social responsibility part of the Indian developers has been lacking, to say the least. The manner in which the developers have operated in many emerging micro markets leaves much to be desired of their sensitivities to these issues considering the unprofessional and opaque approach to the functioning of the developers where local level leaders are made a party by greasing their palms.
Track2Realty Exclusive: Vidya Basarkod, President, Sales and Marketing, Jaypee Greens believes though the Indian economy has gone through turbulent phase of slowdown, demand for housing has kept the momentum for residential real estate. In an exclusive interview with Track2Realty she asserts though liquidity has been a concern for both the buyers as well as developers, there are more pressing issues hampering the growth of the sector, like delays in approvals, infrastructure bottlenecks and skilled manpower.
Track2Realty Exclusive: Kolkata stands out as a case study in land prices suddenly hitting northwards. It has defied the overall slowdown in the real estate sector and exorbitant land prices are pushing housing prices in Kolkata.
Track2Realty Exclusive: Though redevelopment is the buzz word in Mumbai post the new Development Control Rules (DCR), some of the realty analysts are finding it as a short gap arrangement since the supply will be only marginally increased which can’t even meet the ever increasing demand. And hence short supply of the apartment added to the price appreciation will hardly bring any substantial change in the market dynamics of the island city.
Track2Realty Exclusive: Land as the major input of real estate business is still attracting a premium though land assembling at the cost of project execution has backfired on the fortunes of many realty companies in India.
Track2Realty-Agencies: The Bombay High Court has cleared the way for construction major Shapoorji Pallonji and Co. to sue Qatar Airways for Rs 59 lakh with interest.
Track2Realty Exclusive Yearly Analysis: The cash in the industry is fast drying up. Not because banks are reluctant to finance projects but because investors are now shying away as realtors are not being able to deliver on the high returns they promised to investors.
Track2Realty: The commercial property market has slowed down, considering it has a strong correlation with global and economic factors and performance. The office segment has seen a pronounced dip, with absorption levels in the two major markets of Mumbai and Delhi-NCR seeing a year-on-year slump of 47% and 26% respectively, as per industry sources.
Track2Realty-Agencies: The fate of the Real Estate Regulatory Bill hangs in balance even after PMO steps in to resolve differences between two ministries—Housing and Urban Poverty Alleviation and Urban Development— threatening to further delay the long pending Bill. The PMO has reportedly stepped in and directed the warring ministries to quickly resolve their issues over the bill which aims to protect property buyer’s interest from unscrupulous realtors.