While there seems to be a crisis of credibility in the real estate sector on part of the investors, a survey by the Associated Chambers of Commerce and Industry of India (Assocham) says otherwise. It says the traditional investment options like gold, government bonds and bank fixed deposits are considered old school.
There is a lot of housing supply coming in, but the affordable variety is not happening where it is needed the most – in the central regions of cities like Mumbai, where properties are extremely overpriced now. Nevertheless, this is causing newer locations to be developed in the further suburbs, so the residential market is expanding.
Noida, once projected as the largest industrial town in Asia, is today one of the best location for residential purpose too in the Delhi-NCR region. It is also emerged as the gateway to the investors in Uttar Pradesh. New Okhla Industrial Development Authority, or better known as Noida only, was developed in the 1970s as a modern industrial city under the UP Industrial Area Development Act, 1976.
Track2Realty is preparing an exhaustive data bank of real estate…
Track2Realty is preparing an exhaustive data bank of real estate…
The Maharashtra Chamber of Housing Industry’s (MCHI) 14th India Realty Expo 2010 has expressed satisfaction over the non resident Indians (NRIs) keen interest. The MCHI said in a statement that many NRI couples were looking up and evaluating options and the Participating developers and banks have reported receiving “solid enquiries” and many expect deals to be closed.
Property management as a subject of specialized study has hardly been discussed in India. While the industry gropes with the huge manpower shortage in almost all functional areas of real estate including property sales, marketing & brokerage, expertise is hardly available in the industry.
Confusing it may sound, but a project called Delhi One has been launched in Noida by the trend setter of green building concept in India The 3C Company. This mega mixed-use project incorporating residential, commercial, retail and hospitality zones is spread across 12.5 acres at Sector 16-B, Noida.
In the wake of Adarsh society controversy the Mumbai government has suddenly woken up to the reality that they don’t have authentic records of land ownership and maps of many plots in one of the costliest addresses in India, South Mumbai. The state’s urban development department has written to the city collector, telling him to prepare records of ownership of land in Backbay and Nariman Point areas in south Mumbai.
The Faridabad property market has started showing signs of recovery very fast. The pace of recovery in the Faridabad has been witnessing a quiet revolution over the past six months. Real estate prices, which had plummeted post 2008 and then plateaued at Rs 20,000-25,000 per square yard last year, have suddenly shot up by 30-40%.