Track2Realty-Agencies: Following relaxation in SEZ norms, debt-laden property developer HDIL has decided to scrap plan to sell the 70-acre land parcel at Kochi Special Economic Zone and is now looking to construct IT infrastructure there.
Track2Realty-Agencies: India will kick-start a number of new infrastructure projects including 8 new airports and two new sea-ports in the coming months to boost sluggish economic growth, Prime Minister Manmohan Singh said on Thursday, Aug 15.
Track2Realty Exclusive: Subvention schemes have gained popularity with developers in the North India, particularly after the economic slowdown. The scheme conceived by developers in conjunction with banks, allows the home loan applicant to defer EMIs and interest payments, on a property under construction, for the first two years of the loan period.
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Track2Realty: Describing the National Green Tribunal (NGT) populist ban in sand mining as arbitrary and anti growth , developer’s apex body CREDAI Chairman Lalit Kumar Jain has threatened that the developer community is considering appropriate legal options to challenge the order. The nationwide stay on sand mining from river beds by the NGT adds to the ever increasing burden on the real estate industry.
Track2Realty: Retail leasing activity continued to be subdued in Q2 2013, as most retailers remained cautious due to the weak economic conditions that are currently prevailing in India. Several retailers started to employ new service delivery models by closing down loss making stores, especially in non-core markets.
Track2Realty Exclusive: There is no clear-cut definition of the term ‘affordable’, as it is a relative concept and could have several indirect meanings in different contexts. In India, private developers primarily target luxury, high-end and upper-mid housing segment, since it fetches a premium over low income housing. This leads to a sustained supply for this segment, increasing market competitiveness for developers.
Track2Realty: Godrej Properties has entered into a development agreement with Oasis Buildhome to develop a 13.76 acre property situated on Northern Periphery Road (NPR) in Sector 88A/89A, Gurgaon. The project will be developed as a premium residential group housing project and is expected to offer 1.2 million sq. ft. of saleable area.
Track2Realty: Sentiments towards commercial real estate investment remains favourable, as India’s economy shows itself to be less vulnerable to the overall slowdown as compared to other Asia economies.
Track2Realty: Sikka Group has announced its foray into luxury real estate with Sikka-The Downtown, Noida, at Sector 98, Noida Expressway. The group aims to strengthen its footprint in North India.