Track2Realty-Agencies: Realty firms and property consultants have expressed disappointment over RBI’s decision to keep key policy rate unchanged and said it was the right time to bring down the borrowing cost for home buyers as well as developers.
Track2Realty-Agencies: Jones Lang La-Salle (JLL) India has set up a new entity, JLL Segregated Funds Group to raise funds to invest in the Indian real estate market, and its first fund worth . 300 crore will be launched soon in the domestic market.
Track2Realty: Real estate sentiment remains fragile, most notably in the occupier markets in Europe, as the global economy continues to face strong and persistent headwinds. The recession in Europe, coupled with only modest growth in the US and a slowdown in China has resulted in global economic prospects being no more certain than in the previous quarter. These are the findings of These are the findings of the latest RICS Global Commercial Property Survey.
Track2Realty: A three-acre plot in Andheri owned by Nycomed Pharma has been sold for around Rs 205 crore, or Rs 65 crore an acre. Mahindra Lifespaces, part of the Mahindra Group, has purchased the 12,000-sq m plot that currently houses a bungalow, two guest houses, a research and development facility and an electric sub-station.
Track2Realty-Agencies: Demand & supply mismatch is proving to be the burden for developers now, at least in the funding market. Most of the PE deals in the year so far has fallen into residential projects. PE players are investing in projects for shorter duration and with better cash flows.
Track2Realty: Raising alarm over Mumbai and Maharashtra becoming increasingly “investor unfriendly”, developers apex body CREDAI has said the State Government’s policies will end up being its gift to Gujarat’s upcoming Gift City.
Track2Realty: Mumbai region has seen prices appreciate by double digit percentages over the last two years. It is interesting to note that some areas have witnessed over 50% price rise when we compare per square feet prices (PQSF) of Q3-12 (Jul-Aug-Sep) over Q3-10(Jul-Aug-Sep). This clearly reflects that capital values in and around Mumbai region has been continuously moving at a steady pace year on year, says a report by property portal 99 acres.com.
Track2Realty Exclusive: Group buying is emerging as a win-win situation for both the buyers and the developers.Track2Realty talks to all the concerned parties in the deal to find that while it saves the marketing cost of the developers and increases the bargain of the buyers, in no way it cuts the role of the intermediaries as well, thus making it the most lucrative marketing model for all in the future.
Track2Realty: Regardless of the state of the economy, associated market sentiments and on-going funding trends, developers need to generate initial capital to successfully launch and complete their projects. Only by doing so can they maintain the kind of churn that makes the real estate development business profitable.
Track2Realty Exclusive: While the Vijay Kelkar Committee has strongly advocated in its recommendation to the Central Government that monetisation of the government land can finance the basic urban infrastructure needs, a move in that direction has set the tone for a fresh debate in Maharashtra.