Track2Realty: The NCR residential market witnessed a dip in project launches in H2 FY13 compared to H2 FY12. Greater Noida witnessed the highest number of launches in H2 FY13. Majority of these projects are located on the Yamuna Expressway and fall in the affordable segment.
Track2Realty-Agencies: Chennai-based real estate firm Real Value Promoters Private Limited plans to raise Rs 100-200 crore from private equity (PE) players for its projects.
Track2Realty Exclusive: Integrated township in the Indian context is a baby that everyone was expecting with their own set of expectations. And hence, within a decade the term was so over-used that it lost its relevance. Any and every mixed land use was projected as an integrated township and it often lacked the basic DNA of affordability, convenience, lifestyle and walk-to-work. As a matter of fact, Trck2Realty noted township projects were also conceptualized by many as safe investments in India at a time when funds were on the look out to deploy and developers needed more projects in the kitty to bag that.
Track2Realty Exclusive: What Indian realty needs is holistic reforms and for that what is needed is change in mindset. We wonder why every person in office doesn’t realise that his indecisiveness hurts interest of the country. Why authorities are trying to take a pro-publicity and anti-development stand whereby nobody gains?
Track2Realty: Mumbai-Pune developer Kumar Urban Development Limited (KUL) has launched second phase of its integrated eco-friendly township, KUL Ecoloch, in Mahalunge, behind Balewadi Stadium, Pune.
Track2Realty-Agencies: Haryana government has notified the Haryana Development and Regulation of Urban Areas (Amendment) Act, 2013 to regulate land use in the state.
Track2Realty Exclusive: Manoj John, VP, Corporate Planning & Strategy, RNA Corps maintains there is a correlation between cost of FSI and the nature of development that is viable given the high cost of land with limited development potential. If more can be built on the same land, the cost of land attributable to the project, which is as high has 50 to 80 per cent of project cost would come down. Hence, it would be viable for the developer to build residential projects at lower cost and hence make it more affordable.
Track2Realty: The prime office space segment across key cities in India are witnessing an improvement in sentiment from last year. According to CBRE’s latest report, India Office Market View Q1 2013, prime office space absorption across key cities in India witnessed approximately 17% increase in Q1, 2013 as compared to Q1, 2012.
Track2Realty: DTZ annual office space forecast says 21% increase in take-up is expected. Overall take-up stood at 4.80 million sq ft for Q1, a sharp drop of circa 29% from previous quarter. Mumbai witnessed the highest take-up of 1.25 million sq ft, an increase of 3% q-o-q.
Track2Realty: Godrej Properties has launched Phase III of its residential project, Godrej Summit, near Dwarka Expressway, in Sector 104, Gurgaon. The new phase consists of a total saleable area of approximately 2 lakh sq. ft. Customers can choose from 3 BHK, 4 BHK, and penthouse apartments ranging in size from 1,712 sq. ft. to 4,925 sq. ft.