Track2Realty-Agencies: Shriram Properties the Bangalore-based realty arm of the Shriram Group, is understood to have up lined up discussions with key global players including Mapletree and Ascendas to sell its Gateway SEZ, a 1.3 million square feet information technology special economic zone in Chennai for $150 million.
Track2Realty: Omaxe and The Intercontinental Hotel Group (IHG) are bringing to the city of New Chandigarh (formerly Mullanpur), a five star hotel “Holiday Inn”. In an exclusive tie-up for a hotel in Omaxe’s integrated township Omaxe New Chandigarh, the company will undertake the construction of the 150-room hotel which will be managed by IHG.
Track2Realty-Agencies: Real estate seems to be the hottest investment instrument for urban youth in India, with a whopping 85 per cent of those surveyed inclined to put their money into immoveables on hopes of higher and guaranteed returns.
Track2Realty: Telecom and real estate has emerged as the worst industry in terms of quality of service, with over 21% of complaints received by the national consumer helpline in 2012 being related to this sector.
Track2Realty Exclusive: Signs of consumer activism backfiring have already started appearing. For instance, visibly upset with the increasing instances of protests by Noida Extension home buyers, which often obstruct traffic and law and order arrangements in the city, the district administration in November, 2012, asked the buyers’ association to not to protest in groups.
Track2Realty Exclusive: Property market in India is no more metro centric as major national players have already made an entry into tier II and III cities across India. An extended period of high interest rate have dissuaded buyers in metros to move towards more affordable housing in tier II and III cities, as these cities have the potential to fetch higher rentals as well.
Track2Realty: With the dark cloud of LBT (Local Body Tax) hanging ominously over their heads, developers in Navi Mumbai joined forces to form a new body called Federation of Housing Industry Associations (FOHIA) and fight against the imposition of the new tax.
Track2Realty Exclusive: The fact that SEZ story in India was left on the private hands, the key policy plank of SEZ policy, to promote manufacturing and hence create jobs (both skilled and semi-skilled) for the rural masses took the back seat. IT/ITeS with limited scope of job creation, compared to manufacturing, started dominating the SEZs.
Track2Realty-Agencies: Supporting Union Urban Development Minister Kamal Nath’s push for vertical growth in the city, the Delhi government has said the Centre will have to give adequate funds to it for enhancing existing infrastructure if such a policy is finalised.
Track2Realty Exclusive: In China, SEZs were developed along its southern coast in the areas of Shenzhen, Shantou, Zhuhai, Hainan and Xiamen which were backward small villages lacking in basic infrastructure and industrial resources. These zones were developed as manufacturing hubs and the open access to international trade sea lanes led to their success.