Track2Realty Exclusive: Many within the sector admit it is more often the case of lacking USP of the project added with the faulty communication and branding. This is being compensated by frivolous features which may bring the footfall but hardly translates into buying.
Track2Realty Exclusive: Catering to the rapidly urbanizing consumers and emerging economies will hit the demand pressure for natural and capital resources. In cities, one billion people will enter the global “consuming class” by 2025, with incomes high enough to become significant consumers of goods and services.
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: 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: A single window clearance cell, akin to the Security and Exchange Board of India (SEBI) for the securities market in India, should be established. A unified point of clearance such as this will minimize project delays by reducing the builder’s run around time in obtaining clearances.
Track2Realty Exclusive: Sachin Sandhir, Managing Director-South Asia of RICS and a vocal spokesperson of the realty reforms agrees there is an element of subjectivity and a fine line, when industry stakeholders organise awards – as it can lead to a conflict of interest. He, however, defends awards that are based on actual performance indicators and tangible evidence. Track2Realty probes for an insight—
Track2Realty: The voice of the real estate industry in Maharashtra, MCHI-CREDAI today opposed the Government’s decision to introduce LBT saying it goes against the home buyers’ interests.
Track2Realty Exclusive: There is a school of thought within the sector which suggests the nature of the business is more suitable to be carried smoothly as promoter-driven. Though officially no one wanted to be quoted but some of the developers admitted to Track2Realty that the nature of real estate business demands more grounded entrepreneurs and not high flying professionals for whom more money in the sector is the only traction for job hopping.
Track2Realty Exclusive: If CCI verdict against DLF is upheld, it will amount to all developers in danger of coming under the jurisdiction of the competition commission. Would the slew of builders across the country very much be amenable to this kind of interpretation?