Track2Realty: The estimated demand for office space across the top eight Indian cities in the period of 2013 – 2017 is expected to be 132 million square feet (msf), says a report by Cushman & Wakefield. Office space absorption in top eight cities is expected to be approximately 22.5 msf in 2013 which will be a decline of approximately 26% over 2012.
Track2Realty Exclusive: Bhiwadi in Alwar district may be seen as a gateway to Rajasthan by many, its emergence as a property hotspot has more to do with the thriving economic activity in the neighbouring state of Haryana. Of course, Rajasthan Industrial Development and Investment Corporation (RIICO) is also aggressively pushing to make the place a destination magnet.
Track2Realty-Agencies: DLF said on Sunday, Sep 29, that it has no unsold inventories despite slowdown in the property market as the company mostly sells flats before the start of construction of projects.
Track2Realty: With the Supreme Court upholding the State Governments’ right to levy Value Added Tax (VAT) on real estate, buyers will have to pay the tax on sale transactions. In Maharashtra the VAT subject dispute is for period between 2006-2010.
Track2Realty: Dubai becomes the first country to formally get the government support to The International Property Measurement Standard (IPMS). The IPMS, which is being developed by a coalition of 22 professional and not-for-profit organisations from around the world, including the IMF, RICS and BOMA will address global inconsistencies in the way property is measured, leading to greater transparency and increased investor confidence.
Track2Realty-Agencies: The emirate of Dubai will raise the registration fee charged for real estate transactions to 4 per cent from 2 per cent on October 6, in order to prevent excessive speculation in the property market, a top official said on Thursday, September 26.
Track2Realty: Kolte-Patil Developers (KDPL) has launched four new luxury projects- Tuscan Estate Signature Meadows, Downtown, 24K Glamore and 3rd Avenue at Life Republic in Pune to develop a total of 1.8 million sq.ft. for these new projects.
Track2Realty: To simplify the process of home buying for its customers, Kumar Urban Development Ltd (KUL) is organising a ‘Home Loan Mela’ at its project sites – KUL Ecoloch and KUL Nation – on September 27th , 28th and 29th.
Track2Realty Exclusive: Crème de la crème real estate project for the upscale and upmarket buyers is an ambition that is driving the developers across the country. It seems the Indian real estate has woken up to the reality that the destination of brand positioning is ‘luxury’ and as Track2Realty finds, in this rat race the term is so over-used and abused that it has lost its relevance. From high-end condominiums to affordable, the tag of luxury seems to be the biggest brand driver for the sector.
Track2Realty Exclusive: India’s urban population will soar from 340 million in 2008 to 590 million in 2030 as estimated. And this urban expansion will happen at a rapid speed.