Track2Realty: Knight Frank India in association with the Federation of Indian Chambers of Commerce & Industry (FICCI) has released the fifth set of findings of its flagship report – The Real Estate Sentiment Index for Q4 2014 October – December). The latest edition has captured the current sentiments of the supply side stakeholders, six months after the new government being elected to power.
Track2Realty-Agencies: Fair trade regulator CCI has rejected a plea alleging that real estate company BPTP abused its dominant market position with respect to a residential project in Gurgaon.
Track2Realty Exclusive: In 2014, India elected a new Central Government with absolute majority after three decades. The absolute majority helped in the formation of the strong government capable of taking decisive steps without much opposition. Likewise, several pro-business reforms were introduced to propel the infrastructure growth and to infuse a positive sentiment for the future of the real estate sector including revitalising Special Economic Zones (SEZs), development of several industrial corridors, creation of 100 smart cities, relaxation in FDI norms in real estate, supporting affordable housing sector, introduction of REITs and InVITs etc
Track2Realty: In a market still defined by significant lack of transparency, real estate consultancies play a complex and responsibility-driven role in all real estate transactions, especially in the case of high-value property assets. In large ticket sized transactions such as those involved in Grade A office spaces, there can be no margin for error. Transparency, ethics and accurate market information play an inalienable role in closing such deals.
Track2Realty: Prabhat Ranjan, co-founder of Brick Eagle, a financial services platform for the affordable housing industry, has forayed into real estate development, incorporating a new venture Olympeo Infrastructure. The company has launched its first project Olympeo Riverside, an integrated township spread across 25 acres on the banks of Ulhas River, in the Neral-Karjat belt, an extended Mumbai suburb.
Track2Realty Exclusive: It has indeed been a busy year and 2014 can well be described as the year of roller coaster emotions where the business confidence index was exposed to two extreme ends of swing. In an otherwise flat year, the real estate sector may not have been witness to transactions on ground but the poetic engagement has definitely been at the emotional level.
Track2Realty Exclusive: The built environment of Mumbai real estate for long has been busy with fixing the shortfall of the affordable housing. The debate has more often than not been centered on the three key processes that could lead to the availability of mass housing in a peninsular city where the availability of land remains the primary concern.
Track2Realty Exclusive:Following nearly two years of sub-5% growth due to currency volatility, high inflation and fiscal deficits, poor investment and market sentiment scenario, India’s economy bounced back with a growth rate of 5.7% during the April–June period of FY 2014–15, up from 4.6% in the preceding quarter. With business prospects improving across key sectors, the economy is expected to display further improvements in the next quarter.
Track2Realty: The year 2014 has been quite fruitful for the real estate sector in terms of business sentiment, although the real effect of many of the policies and amendments announced in 2014 will take effect only in 2015. Starting from Union Budget FY2014-15, where affordable housing was considered on par with infrastructure, to relaxation of rigidities in the Land Acquisition and Real Estate Regulatory Bill, India’s new Prime Minister has been offering the India real estate sector consistent doses of energy.
Track2Realty: The definition of affordable means different for different people depending on the socio-economic class, income levels etc. In India, the term applies most pertinently to housing created for the EWS (Economically Weaker Section) of society so that they, like the middle class, can also benefit from the financial and emotional security of home ownership.