Track2Realty: Casa Grande, Chennai-based villa developer has launched Casa Grande ‘Cherry Pick’. Offering lifestyle apartments with more than 40 amenities the property is located at Perumbakkam, 10 minutes from Sholinganalur.
Track2Realty-Agencies: In a boost to realty-related investment in the state, West Bengal Government has decided to grant an exemption under section 14Y of the West Bengal Land Reforms Act for township projects enabling them to acquire land more than the ceiling limit of 24 acres.
Track2Realty: Demand for investment-grade office space across leading cities in India slowed down in the first quarter of 2014, with around 6.3 million sq. ft. of Grade A office space getting absorbed The market saw slow transaction activity and a low level of new completions in the first quarter; and leading cities continued to experience caution from corporate occupiers in the first three months of the year.
Track2Realty-Agencies: The West Bengal Assembly on Friday, Nov 30, passed the Land Reforms (Amendment) Bill, 2013 which would prevent use of land, earmarked for township development, in excess of the prescribed ceiling for real estate purpose.
Real estate-focused Private Equity Funds are looking at investing in pre-leased commercial projects, including IT Parks and Special Economic Zones (SEZs), as they look for assured returns from their investments.
Sunil Dahiya: When the meltdown of 2008 and the aftereffects of 2009 rolled in, see the amount of letters sent by developers to the customers and the customer calling back and telling that ‘sorry boss, I am on the verge of losing my job, I don’t have the money’. Not a single developer went to any court or had any power in this judicial system to recover any payment from the consumer, there is no law.
ICS Realty India, the Mumbai-based retail asset management firm has announced to develop projects on its own. The company has hitherto raised and managed funds for other developers. It is also floating a joint venture firm for its hospitality foray in two week’s time.
A city with almost every household having one family member working in the Gulf, Kochi or Cochin’s resident population is waking up to new business avenues. This transition is also leading to a growing demand for commercial and residential property.
During the economic downturn of 2008, while the other neighbouring and glamorous property market of Bangalore and Hyderabad fell by 24-29 per cent, the Chennai market fell only 8.3 per cent. Limited supply of land and pent-up demand is how NHB’s Residex defines Chennai property market.
Even as global economic slowdown and uncertainty in financial markets have battered the real estate industry countrywide, properties in Kolkata and Chennai bucked the trend with steady demand in affordable and mid-segment housing.