The building approval process in India is relatively slower and more expensive in comparison to several other countries as indicated by a recent World Bank assessment. The report highlights that an average 37 procedures over a period of 195 days are needed for obtaining construction permits in the country vis-à-vis 15 approvals over an average 157 days in the OECD region.
The Competition Appellate Tribunal (Compat) has said a new Bench will decide the DLF case wherein the realty major has challenged CCI’s Rs 630 crore penalty on it and the final hearing has been adjourned to July 18.
Babulal Varma, Managing Director, Omkar Realtors & Developers There are…
A 16-lane dedicated corridor in Gurgaon will link DLF’s Gateway Tower in Cyber City to the Golf Course Road, offering some relief from crumbling infrastructure in Delhi’s suburb.
Tata Housing Development Co. Ltd., has bagged one of the most prestigious Asia Pacific Property Awards 2012 (part of the International Property Awards), 4th year in a row bagging five coveted awards under various categories.
Chicago-headquartered Hyatt Hotels Group is betting big on the upper-midscale segment in India. Its growth in India is going to be driven by three of its brands — Hyatt Place, Hyatt House and Hyatt Regency. It has already firmed up plans for the first Hyatt Place in the country, likely to be launched at Hampi in Karnataka in June.
The retail real estate market received a fresh mall supply of approximately 1.94 million sq. ft. (msf) in Q1 2012 (quarter ending March 2012). Many of the expected mall projects were differed on account of delay in construction, leading to a deficit of close to 50% from the estimated supply (3.37 msf) for the quarter, says Cushman & Wakefield in its latest report.
Even as the cost of housing is skyrocketing in Mumbai, an ambitious proposal to create at least 500,000 houses as part of a “Homes for All” initiative between the real estate industry and the Maharashtra Government is gathering dust in the ministry.
Anmol Shah, the Gujarati businessman settled in Mumbai, has both the emotional as well as rational reasons to invest in property this time on Akshay Tritiya. His astrologer has suggested that very much like a few years back when he bought his first flat in Mumbai, followed by an office in one of the Central Business Districts (CBD) on Akshay Tritiya, he should yet again buy the second house on the auspicious day this year.
In addition to professionalism, enacting laws to enforce high standards of disclosure, transparency and corporate governance within the realty sector are also needed in order to minimize investor risk. Specifically with consumer interests in mind, there must be a redressal or complaint handling mechanism that provides much needed recourse against customer grievances.