Track2Realty: Uncertainties prevailing in the real estate market since the past few years have resulted in the country no longer being an attractive investment destination for international investors, says a recent survey.
Track2Realty Exclusive: The social media is a huge enabler. Even though in India its reach is hampered by three factors: Low PC numbers, lack of electricity and low literacy, it is making its presence felt. How does it affect the real estate sector? Or in other words, how its reach is different to realty vis-a-vis other sectors?
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.
CREDAI has reacted sharply over the Finance Minister’s asking chiefs of public sector banks to put pressure on real estate developers to lower property prices and not hold invetory. CREDAI has said in a release that instead of asking realtors to download unsold stock at discounted prices, the Union Finance Minister P Chidambaram should take immediate steps to boost to housing stock supply through special incentives to the affordable segment.
The real estate sector accounted for a sizeable proportion of total investment, as of December 2011, in seven of the top 20 States, an Assocham study said on Monday, July 16.
“Supertech invites you to invest in a pre-launch project at an attractive discount,” this SMS has been sent at least 5 times within a week. The bulk SMS, however, fails to acknowledge that many of these unsolicited messages are being delivered to the wrong recipients, including media, in front of whom most of the developers deny to pre-launch the projects any more. As a matter of fact, ever since Supreme Court came down heavily on the pre-launch offer of the developers, various states including Haryana have banned such offers.
Acknowledging the developer community’s role in the economic growth of MMR in particular and Maharashtra in general, Chief Minister Prithviraj Chavan stressed that his government accords top priority to affordable housing.
Ravi Sinha: I welcome all the panelists in this roundtable discussion. We are organizing the brain storming session for our inaugural yearly Handbook Focus 2012. This is the second of the series after the 1st discussion in Mumbai on “Funding Gap in Real Estate.”
Greater emphasis needs to be awarded to project delivery in light of the human, physical and monetary resources that are lost as a consequence of such delays. Even in the most robust economy, the challenges involved in construction and delivery of projects are enormous. There are common worries focused on timeliness, costs, performance and delivery. Stakeholders involved across the development process are often insufficiently coordinated to deliver a finished product within budget and on time.
It has been strangely characteristic for the real estate and construction industry in India to remain unregulated and unrecognized, even though it is one of the largest employers and contributors to national growth.