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Old urban cities’ date with destiny for makeover-I

Track2Realty Exclusive: With most of the urban centres across the country having depleted buildings in prime localities, redevelopment is the only way forward. However, policy hurdles added with resistance by some vested interests causing developers’ reluctance comes in the way of an urban makeover. Track2Realty noted that the collective consciousness of the policy makers, developers and majority of residents is increasingly shaping up for redevelopment and that spells a new business opportunity for realtors across the country.

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Office take-up dropped by 23% in 2012: DTZ

Track2Realty: Subdued economic growth on the domestic front and persistent concerns about the economic outlook in USA and Euro Zone moderated business confidence among office space occupiers in 2012. As a result, the major seven cities in India witnessed restrained office space take-up in 2012.

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Tata Housing raises Rs. 300 crore through NCDs

Track2Realty: Tata Housing Development Company Limited, India’s fastest growing real estate Development Company today announced that it has raised Rs. 300 crore by issuing Non-Convertible Debentures (NCDs). The issue was subscribed by IDFC and a top Mutual Fund. The issuance is for the maturity periods ranging from 3-5 years.

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Finance Ministry working modalities to revive real estate

Track2Realty: The finance ministry is reportedly working on the modalities to revive the real estate sector. According to ministry sources, the move is aimed to ensure that stalled projects get bank sector financing. The move, which is expected to help revive growth, is likely to be decided over the coming weeks.

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