Funding gap in real estate
Pranay Vakil: Let’s start by introducing ourselves. I am Pranay Vakil, Chairman of Knight Frank India. We are a brokerage and consultancy group, positioned as second in the business.
Pranay Vakil: Let’s start by introducing ourselves. I am Pranay Vakil, Chairman of Knight Frank India. We are a brokerage and consultancy group, positioned as second in the business.
The recently tabled Land Acquisition, Rehabilitation & Resettlement Bill, 2011 in Parliament is meant to replace the 117-year-old Land Acquisition Bill of 1894.
Ahmedabad stands out as a city that weathered the market slowdown most smartly and the property market of the city was the first in the country that showed signs of recovery by June 2009 itself. Since then realty in Ahmedabad is back and booming, with nearly 35% appreciation.
The Company Law Board (CLB) has asked real estate company Unitech to decide by Monday if it wanted to buy its joint venture partner Telenor’s 67 per cent stake in telecom company Uninor or sell its 33 per cent stake to the Norwegian firm.
Tata Housing has launched its first pan-India retail brand – GoodLife, specially designed to bring mall culture to urban localities where there are no malls.
It has been a difficult market to be in as a developer. Rising interest rates have impacted the customer interest in new properties moderating the flow of new funds and in addition to that high inflation and rising commodity prices have increased substantially the delivery cost for existing projects.
In commercial real estate there is a general marketing strategy to showcase brands that book the space. Will SMEs cluster give the developer that cutting edge?
Fearing share price manipulation with the help of certain ‘independent’ research reports onIndian companies, market watchdog Sebi may soon bring all kinds of research analysts under its regulatory ambit.
CREDAI has stressed the importance of a devising a new scheme like tax holiday to generate stock under affordable housing category. It demands that all projects with tenements below 80 sq meter in Mumbai and Delhi, and 1000 sq meter in other cities, could be exempted from taxes.
There is no doubt that the property prices in almost all the micro market of eastern city is going northwards, yet uncertainty looms large over Kolkata realty. There have been less transaction and even lesser new launches in the city, even when the state chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI) demands ten satellite towns in the state.