While the government is trying to regulate the developers with provisions of penalty and up to imprisonment, the developers in Maharashtra have decided expose the policy paralysis through RTI route.
India’s growth story has many facets; one of the integral parts of growth – and arguably the most important one – is urbanization. In fast-growing economies, cities are significant investment and employment generators, which in turn carry the growth momentum forward. The sustainability and livability of any city depends largely on the quality of its infrastructure and real estate stocks. Needless to say, cities also require large sums of money to create urban asset stocks, including buildings and infrastructure.
Realty major DLF may not extend sponsorship to the Indian Premier League (IPL) after its first five-year deal expires this year. According to DLF sources, they have conveyed this to the Board of Control for Cricket in India (BCCI).
Atul Modak: Why did bankers’ lobby not block the mutual funds then?
Pranay Vakil: Because the mutual funds lobby is larger than the bankers’ lobby. They could not do anything about it. The companies into mutual funds are so large, they might just foray into banking.
The emergence of the secondary and tertiary cities led to an aggressive increase in hotel development and provided avenues for expansion of hotel brands, which were previously dependent on new opportunities in just the five main cities.
Godrej Properties will redevelop 18 residential buildings in Chembur, Mumbai. The Company, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL), entered into an agreement dated January 18, 2012 with Kamla Landmarc Property Leasing and Finance Private Limited (Kamla) to undertake a residential redevelopment project in Sahakar Nagar, Chembur, Mumbai.
Sunil Dahiya: I have a copy of the circular which PNB got from the RBI and probably the managers are interpreting that in their own way. Now the circular that has been shared by the HO with the managers says that they will not take any exposure in housing loans, not even non-fund based.
All areas of Mumbai and Navi Mumbai witnessed an appreciation in rental values when we compare rentals of a 3BHK residential apartment in Q1-12( Jan- Feb- Mar 2011) over Q1-11(Jan-Feb-Mar 2010), says a study by realty portal 99 acres.com. Mumbai as such has always been in the forefront when it comes to rental values of properties. It has in the recent years witnessed a record rise in rental values which is at par with some of the highest real estate rental rates in the world.
The real estate sector in Bangalore has grown to a large extent in the past one year. In the year ahead, the city’s realty is expected to grow by 25 per cent, estimates the Karnataka Chapter of the Consortium of Real Estate Developers’ Associations of India (CREDAI).
Mantri Developers has collaborated with Cisco to develop new ICT-enabled real estate models ‘Mantri Connected Communities and Smart Homes.’ This collaboration combines Cisco’s Smart+Connected Communities vision with Mantri’s experience as a pioneering smart urban developer to provide connected and sustainable communities and an enriched living experience to its residents.