The Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations.
CREDAI as a real estate industry body fails miserably time & again to gain public & policy level acceptance. Reason: Shady builders have more often than not been operating as the elected office bearers of CREDAI. The situation is all the more grave with CREDAI NCR team that believes in convince, confuse or corrupt philosophy of public, policy & media engagement. In his diary of a real estate journalist, Ravi Sinha highlights how focus on projection than perception change at the ground has been the nemesis of CREDAI in general and CREDAI NCR in particular.
India’s commercial office segment has been the favourite asset class of institutional investors over the years. They have allocated USD 17.6 bn in the form of direct investments during 2005-2019. JLL research indicates that 294 mn sq. ft. of office stock would be eligible for REIT. This would translate to an additional investment opportunity of USD 35 bn in near term.
It was not the magic wand it was hoped to be. However, over the past two years, the Real Estate Regulatory Act (RERA) has brought more sanity – and the return of consumer power – than seemed possible in such a short time. The real estate sector is still struggling with it and the Act is very much work-in-progress in many states, but RERA nevertheless hangs like a sword of Damocles over a previously unregulated industry. Eventual compliance across the board seems inevitable.
The last few years have witnessed increasing focus on the affordable housing segment.It remains a key segment for the Government towards its mission of ‘housing for all’. To provide further impetus to affordable housing segment, the Government has sanctioned over 81 lakh homes under PMAY Urban scheme with an investment of about 4.83 lakh crore.
According to a World Bank report, India received USD 79 billion in remittances in 2018 – with a sizeable portion going into real estate. NRI investments into Indian real estate are led Indian expatriates from UAE, USA, UK, and Canada. In terms of Indian cities, Bengaluru, Mumbai, Pune, Hyderabad, Chennai and Delhi-NCR currently attract the lion’s share of NRI investments.
Track2Realty approached to a number of real estate developers who are offering assured returns. Though all of them refused to speak ‘on record’ but privately they admit that their assured returns have failed due to market dynamics than intentional cheating.
Abu Dhabi Investment Office (ADIO) will also support International Real Estate and Investment Show (IREIS) as Strategic Partners in organizing the “Abu Dhabi Investment Forum 2018”, a specialized investment conference with a lineup of topnotch global experts, renowned academics, and seasoned practitioners to enlighten audiences with Abu Dhabi’s current investment trends and potential opportunities.
The ancient Chinese curse ‘may you live in interesting times’ certainly has a lot of pertinence to Indian real estate today. These are doubtlessly ‘interesting’ times for the sector, which has transformed significantly over the last decade. The pace of transformation has been accelerated further by the Central Government’s reformative steps aimed at ushering in ‘Acche Din’ to the realty sector.
The role played by the DGTCP (Director General Town & Country Planning) has also been in question because of its alleged inaction in addressing the concerns of the homebuyers regarding the blatant violations of the provisions of the Haryana Development & Regulation of Urban Areas Act, 1975 and Rules of 1976 made thereunder while failing to stop the illegal sale of units being made by IREO in its name without having been granted any permission/approval for the same by the DTCP under the extant provisions of applicable laws.