Track2Realty-Agencies: After some neglect in the past several years, the realty industry in India finally saw some reforms that had a direct and indirect impact on its fortunes and which led to the some development of the sector in 2012. The prospect of a revival looks brighter once the central bank keeps it promise of cutting interest rates to spur overall growth.
Track2Realty: Supertech has awarded the India branch of UAE’s Arabian Construction Company (ACC) its first project in North India. ACC’s Rs.650 crore ($125 million) contract will see them build Spira, India’s tallest mixed-use tower and part of the project, Supernova.
Track2Realty: SARE Homes in association with State Bank of India is offering a scheme under which the customer needs to pay nothing for three years, after paying the first 20% for booking an apartment at ‘Springview Heights’ the new launch at its aspirational 88.35 acre township at NH24, Ghaziabad.
Track2Realty-Agencies: DLF today, Dec 19, said it has signed an agreement for effecting a sale of the luxury hotel chain Amanresorts to the hospitality property’s founder and Chairman Adrian Zecha for about USD 300 million (over Rs 1,600 crore).
Track2Realty: A cautious RBI decided to keep key policy rates untouched, and the sector reacted insipidly to the RBI’s decisions, which were taken after its mid-term quarterly policy review. While many financial analysts termed its move as “over cautious” one and said that they were expecting a cut in key rates, realty reeling under a whole lot of issues and living on a wish of market revival in the year ahead said the decision to leave policy on hold has no immediate implications for the real estate sector.
Track2Realty: Western suburbs of Mumbai are set for a facelift through redevelopment post the new Development Control Rule (DCR). Ravi Sinha speaks to Lalit Kumar Jain, CMD, Kumar Urban Development and CREDAI President to understand whether it would add more pressure on the existing crumbling infrastructure of the suburbs. Excerpts of the interview:
Track2Realty: Provident Housing Limited, a wholly owned subsidiary of Puravankara Projects Limited, is set to launch India’s largest residential township project. This gargantuan project, ‘Provident Sunworth’, is a 6 million square feet project spread over 60 acres , strategically located off Mysore Road near the NICE ring road junction in Bengaluru, within driving distance from Electronics city, Industrial hubs and the IT corridor.
Track2Realty-Agencies: A retired judge will head an inquiry to determine whether government officials were bribed to help retail giant Wal-Mart gain access to Indian markets.
Track2Realty: The finance ministry is reportedly working on the modalities to revive the real estate sector. According to ministry sources, the move is aimed to ensure that stalled projects get bank sector financing. The move, which is expected to help revive growth, is likely to be decided over the coming weeks.
Track2Realty-Agencies: To provide cheaper houses for lower income groups, the Ministry of Housing and Urban Poverty Alleviation (HUPA) is working for the inclusion of affordable housing in the infrastructure list.