Track2Realty Exclusive: Now that some progress towards bringing in real estate investment trusts (REITs) has been made it paves way for a positive investment climate in the country. The decision to allow listings of REITs in India as an investment product will boost the liquidity situation of cash starved developers, who are struggling to find funds for their construction activities.
Track2Realty: Ahmedabad, Jaipur, Kochi and Kolkata have significantly improved their value proposition for IT-BPM services delivery over last five years and emerged as front runners next only to Tier I cities or ‘Leader’ locations which continue to be the preferred choices for IT-BPM industry.
Track2Realty-Agencies: A meeting of all stakeholders has been convened on Friday, Sep 19, to seek their views on a key bill that seeks to pave the way for construction of a large number of affordable houses. The Real Estate (Regulation and Development) Bill, 2013 is likely to be taken up for consideration in the Winter Session of Parliament.
Track2Realty Exclusive: There are very few property markets across the country where the developments have been holistic. Some have grown as the residential zones, while others have developed as commercial zones. Even in commercial segment certain markets are known as retail markets while the rest of the markets have more office spaces. The locations close to the Central Business Districts (CBDs) get to see a few hospitality projects. Navi Mumbai, however, defies this growth pattern of the property market.
Track2Realty Exclusive: In 2010 when Le Meridien Coimbatore, a Rs. 300 crore project of Appu Hotels, announced to open a nine-storeyed hotel with a total built-up area of seven lakh sq ft, spread across a 6.75 acre plot, there were not many takers. The critics either termed it as an over ambitious project or a venture that was ahead of time.
Track2Realty Exclusive: Analysts believe most capital in Indian real estate was invested at the exchange rate of around Rs 40-45 to a dollar with the expectation of 25 per cent returns. The currency depreciation has impacted the sector adversely as foreign investors would wait for the full cycle to play out and exchange rate to settle down before taking any fresh investment calls. Even if rupee comes down to below Rs. 60 an exit would mean a loss of around 30 per cent.
Track2Realty: Pune is no longer the small city whose only claim to fame was its proximity to the country’s financial capital, whose real estate market survived on rural demand emerging from the hinterlands of Maharashtra. Today, the perfect blend of its manufacturing and services sectors make Pune a standalone economic powerhouse in all respects, with a rate of job generation that is hard to match.
Track2Realty: Narendra Modi’s government has made massive forward strides within a short period. The progress in such a short period is remarkable, considering that the government is still hamstrung by a disproportionate fiscal deficit and its ability to induce further growth through public investment.
Track2Realty: The multinational companies are increasingly investing through purchasing offices in India with INR 2,470 crores worth office transactions in the last 2 years. There is a seismic shift in the traditional approach of leasing space that such companies have had for years while considering overseas investment. MNCs in the BFSI, ITeS, FMCG & Pharmaceutical sectors are among the lead commercial office buyers in these markets. These are the findings of a report by Cushman & Wakefield.
Track2Realty: Ever since the new government’s announcement of its intent to build a hundred smart cities in India, the nation has been abuzz with definitions of, fund allocations for, and city identification of such development. With good reason too, since the implementation of such ambitions would ultimately result in national wealth creation—to help our cities become sustainable and livable urban centers of growth.