Track2Realty: Godrej Properties has launched its commercial development, Godrej BKC. Godrej BKC occupies a corner plot in the middle of India’s most prestigious and desirable commercial address, the Bandra-Kurla Complex.
Track2Realty Exclusive: These are the logical road to reforms and cutting time on approvals. Such a move will go well with the government and thus reinforce the confidence of the buyers also.
Track2Realty-Agencies: Sudhakar Shetty-promoted real estate company Sahana Group is set to foray into television media segment with two news channels.
Track2Realty Exclusive: The Indian real estate today stands at a crossroad where it seems the government is confused, the developer is confused, the financer is confused and the buyer is confused. They all seem to be in a wait and watch mode but not sure as to waiting for what. While the government is sitting over two crucial bills that has far reaching implications on the future of Indian real estate, reforms and regulation means different things to different stake holders. With a tectonic shift expected this year, all the stake holders are evaluating their own cost-benefit.
Ravi Sinha: All said and done, land acquisition bill is going to be a reality. What are the issues that make you so critical of it? Is it just the fresh cost of acquisition?
Ravi Sinha: The point here is how feasible are the wishful thoughts of the sector in 2013?
Sunil Dahiya: The commercial essence of our product has been taken out. Now the consumer is saying let me wait for something, and he is waiting in eternity for something better to come. What he is waiting for, we also don’t know. So, the consumer has been loaded with confusion, and we are loaded with a product which is dead.
Track2Realty Exclusive: Most of the development in the NCR has occurred in the vicinity of the commercial hubs. In the Gurgaon micro market, developers have shifted their focus to the Dwarka Expressway, also called the Northern Peripheral Road. The forthcoming expressway will provide a convenient alternative link between Delhi and Gurgaon.
Track2Realty: SARE Homes has appointed Parvin Kumar Jain as Director-…
Track2Realty Exclusive: Moderation in new supply brought the vacancy down
During 2012, the new supply dropped by a whopping 40% y-o-y to 18 million sq ft, as across many cities, the slow adjustment of supply with the changing demand patterns took effect. Bangalore was the only exception to this, where the new supply rose by a whopping 35% y-o-y, as a number of developments which had been fast tracked in response to the sharp recovery in demand in the city since 2010, got completed during the period.
Ravi Sinha: I think Mr Tripathi has a very valid point that the CCI has emerged. You have also seen the wrong side of consumer activism in a Noida Extension kind of a situation. When we think of reforms, government is looking for a regulator and a whole lot of sector’s wish list has not gone down well with the government. Do you think that the sector will move ahead with some sort of reforms in the year ahead?