Track2Realty Exclusive: A stable property market otherwise, Pune like any other city has also been witness to the slow sales in the last few years. The overall macro-economic slowdown had taken its on the psyche of the home buyers who were sceptical about the fortunes of the city property market. Even the buyers who had no affordability issue were also not unaffected by the bearish sentiments.
Track2Realty: US-based realty firm Hines has announced a tie-up with a global fund to invest US$ 250 million (over Rs 1,500 crore) in various housing projects in India.
Track2Realty: It is increasingly being observed that standalone luxury hotels are becoming unviable in the country, especially in the case of owned, built projects where the land is acquired, and typically comes at a high cost exceeding 40% of the total development cost.
Track2Realty: Pune’s rapid growth as a city is constantly pushing the envelope for real estate development. Suburbs that were considered ‘upcoming’ less than two years ago are now established destinations, with increased property price appreciation creating a challenge for budget home seekers.
Track2Realty: While buying a home in India, stamp duty and registration charges are the most significant additional costs above the base price of the property itself. Close on the heels of this expense come the costs involved in registering with the local electricity board and having a meter fitted.
Track2Realty Exclusive: The real estate has by and large welcomed the move to bring the slum redevelopment and rehabilitation projects under the ambit of Corporate Social Responsibility (CSR). It has been a wish that hat was granted even before the sector could get vocal with the wish list. It is hence no surprise that some of the adjectives that the Finance Minister’s announcement could earn have been ‘a game changer’ or ‘a corporate catalyst’ and ‘investment magnet’.
Track2Realty Exclusive: Residential market may be the demand driver of the property segment across the country, but experience suggests only the markets where commercial property does well succeeds in keeping the momentum up for long. The conventional wisdom of property market is as relevant in the end-user driven markets like Coimbatore as in the speculative markets of metro cities.
Track2Realty: CommonFloor.com has received USD 30 million in a new round of funding from their existing investor, Tiger Global. The current round of funding comes within months after it raised Rs 64 crores in last round from Tiger Global and Accel India.
Track2Realty: Pride Group has launched its mega city township Pride World City (PWC) at Charholi, near Lohegaon airport, Pune. This integrated township is being developed on a sprawling 400 acres of land at one of the most promising real estate locations in the city.
Track2Realty: Developers are offering a variety of payment schemes to attract buyers during the upcoming festive season. It is imperative that they understand what each payment plan entails. The attraction of delayed payments, no EMIs, etc. has to be viewed in conjunction with the restrictions such as inability to sell the property within a shorter investment period, or before construction is completed.