Track2Realty: ASK Property Investment Advisors (ASKPIA), the real-estate private equity arm of ASK Group has announced its fifth investment from its second real estate fund. The project which will comprise of residential apartments is expected to have a sales value of around Rs.1000 crores.
Track2Realty Exclusive: In China, SEZs were developed along its southern coast in the areas of Shenzhen, Shantou, Zhuhai, Hainan and Xiamen which were backward small villages lacking in basic infrastructure and industrial resources. These zones were developed as manufacturing hubs and the open access to international trade sea lanes led to their success.
Track2Realty Exclusive: There are some industry watchers who believe the entire genre of awards should not be dismissed just because there are few rotten eggs in the basket. Industry body NAREDCO thinks awards should be seen as recognition for the work done by the developer. “If a real estate company has earned an award, I think it should be respected by the industry and by the collective consciousness,” says Sunil Dahiya, Senior Vice President of NAREDCO.
Track2Realty-Agencies: Haryana government has notified the Haryana Development and Regulation of Urban Areas (Amendment) Act, 2013 to regulate land use in the state.
Track2Realty: The Royal Institution of Chartered Surveyors (RICS), the world’s leading professional qualification and standard setting body in land, property and construction sector and Amity University have established the RICS School of Built Environment, Amity University at Noida campus, to address the shortage of skilled professionals in the sector.
Track2Realty-Agencies: While the promoters of realty firms in India are wary of selling stake and instead choosing institutional placement programme (IPP) over share auction to bring down holding to comply with regulatory norms, Bangalore-based Puravankara Projects has also plans to raise around Rs 450 through IPP route.
Track2Realty Exclusive: A marginal rate cut/hike time again evokes reactions across the industries and the blame game continues where the Reserve Bank of India (RBI) defends its balancing act of controlling inflation and the industry captains slam its short term outlook of stop gap arrangement.
Track2Realty-Agencies: Real estate firms, including market leader DLF, are taking a contrarian view on preferred route for selling promoter shares, as they are opting for Institutional Placement Programme (IPP) as against the much sought-after Offer For Sale (OFS) mechanism.
Track2Realty: The Reserve Bank of India (RBI) has released final guidelines for issuing new bank licences on Friday. This will pave a way for corporate houses to enter the banking sector.
Track2Realty Exclusive:
India Offices 2012
Markets remained cautious but poised for an upturn
The year 2012 began on a cautious note, in the wake of a slowdown in domestic economic growth and a tepid outlook on the performance of the world economy. So far during this year (Q1 2012 to Q3 2012), the overall performance of the office real estate market in the country remained mute compared to the same period in 2011.