Track2Realty Exclusive: When the issue of Maharashtra Government levying 5 per cent Value-Added Tax (VAT) surfaced and the MCHI-CREDAI and a couple of other developers’ and trade associations moved to the court, a consumer group called FORAM–Flat Owners’ Rights protection Action committee in Maharashtra – was formed with consumer interest groups coming together and seeking to fight the vexed VAT issue on flats in Maharashtra.
Track2Realty Exclusive: Some of the factors that vociferously call for apartment culture. New initiatives like the construction of a metro in cities like New Delhi, Bangalore, Kolkata, suburban railway in the areas like Mumbai, Hyderabad, Chennai, Delhi, Pune, Kolkata and Bus Rapid Transit System taken by the various state governments to improve the public transport systems in cities has raised the interest among people in the surrounding areas so as to save the commutation time.
Track2Realty Exclusive: South India has emerged as the hub of IT sector and the main arm of outsourcing business for the US and the UK. With more and more foreign investors looking forward to establish their back offices through the prime locations of South India, the scope of corporate real estate has become immensely high.
Track2Realty Exclusive: Commerce Ministry data fails to give a comprehensive picture where many grandiose plans have failed to tap the potential that actually existed. Several SEZ projects and the expansion plans, like the SEZs at Navi Mumbai, Jhajjar in Haryana, Adani’s Mundra, DLF’s Cyber City in Gurgaon, Mahindra World City in Chennai, K Raheja Universal and Flagship Infrastructure in Maharashtra are facing difficulties. The SEZs cumulatively have been losing ground over the past couple of years.
Track2Realty: India has been ranked as the second most risk prone location for hosting Datacentre Operations according to the annual ‘Datacenter Risk Index 2013’ survey released by international consultants Cushman & Wakefield in association with hurleypalmerflatt and Source8. The ‘Data Centre Risk Index 2013’ identifies risks likely to affect the successful operation of data centre facilities in the 30 most important global markets.
Track2Realty Exclusive: It is true that the property investment pattern of young professionals is changing as they are no longer demand drivers of metro property and want to invest in tier-II and III cities.
By: Brotin Banerjee, MD & CEO, Tata Housing Track2Realty Exclusive:…
Track2Realty Exclusive: Administrative Reforms
A. Single window clearance for building approval.
B. Uniform and simplified building permissible rules.
C. No discretionary stoppage of work after granting approval for commencement without hearing by regulator/civil court.
D. Mindset reform; special campaign for political leaders and bureaucrats to support/accelerate growth, remove impediments.
E. To put mandatory block mentioning following in every order/permission, Date of application, Potential investment, Potential contribution to GDP in rupees, Potential new employment generation, Date of sanction, Number of days delay beyond permissible limit, reasons.
Track2Realty: Cushman & Wakefield has expanded its Greater China operations into Taiwan by opening its first office in Taipei. It has appointed Jack Lin as the Managing Director of Taipei office. Prior to joining Cushman & Wakefield, Jack was the Managing Director of Taiwan Sotheby’s International Realty where he set up the luxury residential brokerage business. Together with Jack, Steven Chen was also appointed as the Director of Agency. Steven has more than 16 years’ experience in the real estate industry and was previously at Savills.
Track2Realty Exclusive: Some developers assert the redevelopment can add value in ways more than one and depends on the location and area of redevelopment. Diipesh Bhagtani Executive Director Jaycee Homes says in a particular location where the flats are already huge, a developer cannot offer a still larger space but can offer luxury.