Bandra Kurla Complex was created by MMRDA as an alternate CBD to Mumbai, with the express purpose of halting the further growth of offices and commercial activities in South Mumbai. Currently, BKC has a total stock of 8 million square feet of office space. An additional supply of 2.5 million square feet is expected in 2012 with the completion of The Capital, FIFC and TCG Finance Centres.
Real estate developers and consultants agree that there is fortune at the bottom of the pyramid. But absence of policy guidelines and hassle free implementation is what comes in the way of ensuring reality of a slum free realty, finds Track2Realty.
Babulal Varma, Managing Director, Omkar Realtors & Developers There are…
The business of redevelopment has a long gestation period but the end result is better living for the poor, improved civic amenities and infrastructure of the city and additional housing for the influx.
Just over a decade ago nobody would have even thought about the redevelopment. What then changed in the last two decades? Well, almost about everything changed as far as vision about the urban infrastructure and living is concerned.
It may be momentary down because of rising interest rate, macro economic hue, affordability issues borne out of demand-supply mismatch and overall market sentiments, but forecast for the residential real estate is definitely robust.
Peninsula Land and Canada based Brookfield Asset Management have formed a 50:50 JV to launch a real estate fund for investments in India.
If the current economic conditions have proved nothing else, they certainly prove that investment in Indian residential real estate is impossible to write off, ignore or find an alternative to.
The Government has asked private real estate developers to participate in creating affordable housing stock and help in making India slum-free.
Housing Development and Infrastructure Ltd has started resettling people living in the slums bordering the Mumbai airport, clearing the way for Mumbai International Airport Ltd to develop the area.