Track2Realty Exclusive: We are all well aware that the Indian real estate and construction sector is predominantly unorganized and fragmented and lacks professionalism. Given the free reign provided to stakeholders, consumers have often been at the receiving end of misconduct and malpractice indulged in at the hands of both developers and brokers with no mechanism available for redressal or recourse.
Track2Realty Exclusive: Some of the companies are using online media for generating sales lead; while others are focused on customer relations. With the medium new and realty more or less reluctant in the initial stages, there are very few who are actually understanding the medium and adapting themselves to what others think as a necessary evil. Tata Housing believes in using the medium for engaging with the customers more than just generating sales leads. Brotin Banerjee, MD & CEO of Tata Housing shares with Track2Realty how they strategise their social media usage. Excerpts of the interview:
Track2Realty Exclusive: There are analysts who believe the retail investors need to be exposed to this asset class through an institutionalized vehicle, which would be regulated. REITS is the ideal solution.
Track2Realty: Office markets in India registered a downward trend in absorption in the first half of the year (Jan–June 2013), according to the latest report by Cushman & Wakefield. The total net absorption across top eight cities in H1 2013 was noted at 10.9 million square feet (msf) which denoted a decline of 15% compared to the same period last year.
Track2Realty Exclusive: Is the residential real estate market in India facing a bubble? A bubble implies that there is a lot of absorption and therefore a lot of development happening, and that prices are rising in tandem up to a point where nobody is buying anymore. That is not the case in India.
Track2Realty Exclusive: Several factors such as multinational entrepreneurship, robust capital markets, strong economic fundamentals and changing demographics have collectively resulted in India finding its place on the world map.
Track2Realty: Ashiana Housing has launched its largest township project “Ashiana Town” in Thara, Bhiwadi. The project has got ‘Non-Residential’ clearance under section 90A of Rajasthan Land Revenue Act in February 2013.
Track2Realty: To strengthen long-term competitiveness and deliver a stronger and more differentiated client servicing experience, DTZ has announced a new company structure for its real estate business operations in India.
Track2Realty-Agencies: Shriram Properties the Bangalore-based realty arm of the Shriram Group, is understood to have up lined up discussions with key global players including Mapletree and Ascendas to sell its Gateway SEZ, a 1.3 million square feet information technology special economic zone in Chennai for $150 million.
Track2Realty: In a continuation of the company’s global growth plan, Cushman & Wakefield has entered into an agreement to acquire Singapore-based project management specialist company Project Solution Group (PSG).