Godrej Properties has announced that it has sold over 200 apartments, with an area over 400,000 sq. ft. in just three weeks at the launch of its residential project, Godrej Icon, in Sector 89A/88A, Gurgaon. Spread over 9 acres, Godrej Icon consists of 9 towers including a 32 storey Iconic tower.
Omkar Realtors and Developers has launched one of its towers (Tower A) in its flagship ultra-luxurious residential development Omkar 1973 Worli. Tower A offers limited edition done-up boutique sky apartments priced at Rs 15 plus within the size range of 3000 – 4500 sq. ft.
With the reviving economy having infused a renewed sense of confidence among HNI home buyers, there has been a significant surge in demand for luxury homes asset class in the metropolitan cities of India. Many more developers are now venturing into the premium segment, which has resulted in a massive spurt of luxury projects. In fact, many of these properties are being touted as so exclusive that sales are by invitations only.
It is an interesting reality that most developers will not consider a purchase inquiry as legitimate unless the lady of the house in attendance. This fact speaks volumes, and deserves in-depth analysis. The plain fact is – when it comes to choosing and buying a home, the ‘male prerogative’ – in any case a rapidly dying concept in today’s world – takes the back seat.
Following a particularly strong fourth quarter of 2014, the first quarter of 2015 reported comparatively slow activity on the office market front across leading cities. This apparent demand drop was largely because most corporate space occupiers were still strategizing their real estate plans for the year during the period, with fewer transaction decisions being implemented in the first quarter.
Track2Realty Exclusive: The property markets of the financial capital Mumbai and the political capital Delhi has always been exposed to the reality that it is the expat Indians, the working class professionals, who are the key demand drivers of property. However, in the last over a decade or so this outlook on the migrant work force has become a pan-India phenomenon.
Track2Realty: Satra Group has announced an initial investment of Rs 1000 crore towards developing real estate in Mumbai. Praful Satra, CMD of Satra Group says the expansion plan for the next 5 years includes developing of a total of 4 mn sqft, delivering more than 1,000 residential units of residential and commercial space.
Track2Realty: RICS, along with 61 professional bodies from around the world, has called for setting uniform measurement standards for residential sector globally (including India) to bring clarity on measuring various aspects of property measurement such as super built up area, built up area and carpet area.
Track2Realty Exclusive: The time of transition for the Indian real estate and construction sector has finally arrived. Since last few years, a number of regulations pertaining to the real estate market were put on hold. A number of them are now at the draft stage waiting for Parliament’s approvals.
Track2Realty: The economic growth rates in Asia are likely to lead the world—creating demand for built spaces, triggering business expansion, and inducing businesses to occupy retail premises and office properties.