Track2Realty: Real estate sentiment remained fragile through a major part of 2012, as the global economy continued to face strong and persistent headwinds. Economic activity in Europe is seen to be contracting, while growth in the US has been modest.
Track2Realty Exclusive-Yearly Analysis: The first visible sign of creditors losing patience came in October 2012 when two private equity funds, Citi Property Investors and JPMorgan Chase, initiated separate arbitration proceedings against BPTP on the grounds that it has failed to provide a time-bound exit for their respective investments in the company.
Track2Realty Exclusive: Some analysts maintain that the government needs to understand that in order to meet the infra needs we are left with no option but to transform the city.
Track2Realty: Across micro-markets, investor sentiment has been impacted due to inflationary pressures and rising interest rates through the course of 2012, which have only come down marginally with a few policy revisions by the apex bank in the second half of the year.
Track2Realty: Office space absorption dipped by 23 per cent during 2012 in major cities to 29 million sq ft as corporates remained cautious of expanding businesses amid global uncertainties and slowdown in the Indian economy, property consultant Cushman and Wakefield has said.
Track2Realty: Amidst a global economic slowdown as a consequence of the US fiscal cliff and Eurozone debt crisis, India’s growth forecasts too have been revised downward over the last three quarters of the year.
Track2Realty Exclusive: A large section of realty players categorically say that the redevelopment process may be a step in the right direction, it is yet not going to change the demand-supply dynamics, nor will it bring down the prices.
Track2Realty: The government is working on a proposal to allow Real Estate Investment Trusts (REITs) to participate in the country’s rental housing market.
Track2Realty Exclusive: The Union Cabinet has cleared the Land Acquisition Bill, the realty sector is debating its pros & cons but the home buyers are apprehensive whether the house prices will shoot up in proportion of the higher cost of fresh land acquisition. The Bill cleared by the Union Cabinet makes the consent of 80 per cent of owners mandatory for private projects.
Track2Realty: Mumbai-based Omkar Realtors & Developers has partnered with ESPA International to create the first global onsite spa at its upcoming ultra-luxury residential project at Worli, Mumbai.