MCHI-CREDAI has entered into a strategic alliance with Housing.com on the occasion of the former’s property exhibition’s 25th edition. In a bid to enhance real estate ecosystem in India, the most-awaited expo of the season will witness 250+ top developers (exhibitors), first-ever affordable housing pavilion, and the first-time ever virtual exhibition which will continue for 21 days post the 4 days of on-ground event.
The idea of creating a new city as a counter magnet to Mumbai was originally envisaged in the Regional Plan of Mumbai Metropolitan Region (MMR) in 1965. The actual planning process of this new city began in 1971 after the formation of CIDCO, a Government-owned company for development of cities.
Tokyo is the world’s hottest city for new retailer expansion, attracting 63 new retail brands, according to the latest report by global property advisor CBRE, How Global is the Business of Retail?. Space in core areas of Tokyo remain highly sought after despite the mixed signals in the economy and an increase in sales tax of 8% introduced in April 2014.
Many home buyers as well as investors have been speculating about the movement of residential property prices in Mumbai. These fence-sitters are watching the market’s movements keenly. Their guess is that prices could go down further in the next few months – which in turn has increased their hopes of landing a better deal for their money and delaying their purchase.
With nearly a hundred malls in the Delhi-National Capital Region (NCR), it has become the default mall capital of India. No other city comes close to the number of operational malls that are found in Delhi-NCR.
Godrej Properties has announced that it has sold over 200 apartments, with an area over 400,000 sq. ft. in just three weeks at the launch of its residential project, Godrej Icon, in Sector 89A/88A, Gurgaon. Spread over 9 acres, Godrej Icon consists of 9 towers including a 32 storey Iconic tower.
The concerns about soaring rentals and unaffordable housing in Mumbai notwithstanding, the surprising fact is that residential property prices across Mumbai city and its suburbs increased only by 7% in 2014, and by a negligible 0.3% in 2013.
Following a particularly strong fourth quarter of 2014, the first quarter of 2015 reported comparatively slow activity on the office market front across leading cities. This apparent demand drop was largely because most corporate space occupiers were still strategizing their real estate plans for the year during the period, with fewer transaction decisions being implemented in the first quarter.
The stock market is not only showing the investors’ confidence index going up. It is also indicating the way forward for the Indian real estate. After all, investor sentiment on the bourses have often led to the recovery of the real estate market as the investment grows to the next level of confidence for a long term investment. It may be too early for concluding whether the stock recovery is here to stay and lead to revival of the fortunes of the real estate, yet Track2Realty finds the debate has gained ground. While the developers are optimistic about the money sooner than later coming into the sector, the critics have their own reasons to advice wait & watch policy, if not outright denial.
Track2Realty: Smart Cities: The New Age Concept: The smart cities concept may not be a novel one, but in the Indian context it is definitely an idea whose relevance couldn’t have been better timed. The government has provided the thrust towards development of such cities, and needs to be now backed by a holistic concept.