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For the Reserve Bank of India growth is now the highest priority

by Niranjan Hiranandani The fourth straight cut in the benchmark repo rate is a welcome step which will make borrowings cheaper and would help boost in demand in several sectors like real estate and auto which has been sagging since last several quarters. It would also help in bringing about some balance between growth and inflation. We believe that the credit policy announcement is an extension to what was already initiated by the central government in the Union Budget 2019-20 for giving fiscal stimulus to NBFCs. The industry which is facing a huge challenge in terms of acute shortage of liquidity would get respite with banks now allowed to lend more to Non-Banking financial companies (NBFC). As the RBI Governor said, a 35 basis point repo rate cut would lead to credit demand picking up a...

Indian residential sector sees a new wave of consolidation

by Shobhit Agarwal While consolidation has been an ongoing phenomenon for some time, recent mergers, acquisitions, and joint developments are underscoring this trend like never before. The Indian residential sector saw a series of disruptions in the last two to three years, with revolutionary reforms like DeMo, RERA and GST remarkably altering the way real estate business is conducted. A natural by-product of this upheaval was consolidation, with fly-by-night developers completely vanishing and small players merging with big ones. Just when this consolidation phase seemed to have run its course and the business seemed to have regained an even keel, there was another series of shocks for the sector – the credit squeeze by banks, followed by the NBFC crisis in late 2018. With previously avai...

ANAROCK Launches Lucknow Operations and appoints new City Head

Will proactively address city’s pent-up inventory of 20,000+ units via mandated project sales Mid-segment and affordable housing currently steer the bulk of Lucknow’s realty growth Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants says, “ANAROCK’s entry into Lucknow has been on our expansion charts for long, and we are happy to announce this significant milestone. Lucknow is one of India’s most important emerging property destinations, and Anup Kumar Singh has deep expertise in this city’s vibrant real estate market. He brings to the table 18 years of rich experience in driving sales of high-end residential properties located across Lucknow’s premium locations and has excellent industry connections across the residential real estate value chai...

Mulund to get a realty boost as GMLR inches closer to reality

The Goregaon-Mulund Link Road (GMLR), an ambitious road project of the Brihanmumbai Municipal Corporation (BMC) connecting eastern and western suburbs through Sanjay Gandhi National Park (SGNP), has secured all the mandatory clearances and construction work is set to start very shortly. The mega Rs. 4,000 crore road project will run from Goregaon to Mulund via two underground parallel tunnels of 4.7 km in SGNP and will be the fourth east to west connector in the city after Ghodbunder Road (Borivali to Thane), Jogeshwari-Vikhroli Link Road and Santacruz-Chembur Link Road. The project has already got a green signal from the National Board of Wildlife (NBWL), the Maharashtra State Board of Wildlife and Eco Sensitive Zone clearances. The approvals came with many riders such as NBWL directing t...

Grade A office space to propel real estate in India – RealtyMyths

by Madhusudhan G., MD & Chairman, Sumadhura Group India has evidently witnessed a boom in the real estate sector in the past few years. With strong economic policies, constant improvement in the business environment, and the government’s deliberate efforts to improve infrastructure in the cities in India, the commercial real estate market has geared up exponentially. Grade A office rental space is witnessing an increasing demand, as companies in tech parks look to upgrade their offices in terms of aesthetics as well as amenities. It is estimated that during 2019 and 2020 this market will witness net absorption of over 76 million sq ft in India. Also, the supply in the market would be around 126 million sq ft over the next 3 years based on the launch of new projects in several Indian ma...

SEMrush and Colliers International unveils Indian Real Estate Market Trends for 2019 – RealtyMyths

The joint report – ‘Digital Real Estate – Winning the Indian Market with Data’ highlighted the role of technology in the Indian real estate market and forecasted future trends SEMrush, the online visibility management and content marketing SaaS platform and Colliers International unveiled the exclusive joint study ‘Digital Real Estate – Winning the Indian Market with Data’ in an event held at Hotel Le Meridien, New Delhi on 26th February 2019. The mega event organized by SEMrush also marked announcement of the top 20 most searched Real Estate players of India and top 10 most searched cities for Real Estate properties in India. The joint report by SEMrush and Colliers International revealed the first ever ‘Digital Real Estate Insights’ with data collected for demographics,...

RE/MAX India to invest 100 Cr by 2020 for expansion PAN India

~Plans to employ 5000 brokers in next 5 years~ RE/MAX India, the Indian arm of the global leader in real estate broking along with Franchise India announced its expansion PAN India plans at its convention in Bangalore. RE/MAX India plans to open around 500 offices employing 1000 agents in the next 2 years. The company aims to enable aspiring real estate marketers with an opportunity to become full-time agents. Jan Repa, Executive Director, RE/MAX LLC said, “It is a great moment that real estate market in India is picking up in a big way. Investments by HNIs, the private sector, increasing incomes, and urbanization has surged the overall demand in the country. Setting up of the RERA is one step towards streamlining the real estate business while making it more transparent. Both residential ...

West Bengal housing to benefit from new IT& Electronics policy

Services is the fastest-growing sector with 15.6% growth in 2017-18 Housing prices declined in Q4 2016 after DeMo, but recovered within 4 quarters to register positive growth. West Bengal’s new IT policy to disseminate the IT-ITeS activities across the state for the benefit of the population in the fringe and rural areas. It will be a game-changer for the state’s real estate market as well as its larger economy. This is one of the many highlights of the report ‘Kolkata: The East’s Icon of Balanced Growth ‘ by knowledge partners ANAROCK at CREDAI StateCon today. The report emphasises West Bengal’s aim to spread the reach of IT/ITeS across the state will help replicate the success of Eastern Kolkata in other parts of the state Anuj Puri, Chairman – ANAROCK...

Delhi NCR’s Real Estate Market Post Dwarka Expressway

by Akhilesh K. Prasad, The Dwarka Expressway, also known as the Northern Peripheral Road (NPR) is an 8-lane and 29 Kms long highway that connects Dwarka in Delhi with Gurugram in Haryana. It has been developed as an alternative link route to ease traffic on the pre-existing NH-18 and Mehrauli- Gurugram road. Conceptualised under the Gurugram Master Plan 2021, the expressway was initially planned to connect Dwarka in Delhi to Palam Vihar in Gurugram. However, as per the Master Plan of 2025, it will be further extended to Kherki Daula toll plaza, intercepting NH-48. The Dwarka Expressway has 360-degree proximity, be it to metro, airport or commercial hubs. Briefly, it is well-connected to Gurugram Cybercity and other major office hubs via NH-48. It connects to Manesar and Maruti Suzuki India...

Construction World Architect & Builder Awards 2018 held its FIRST CWAB Regional Initiative in New Delhi

Nominees for CWAB North Region 2018 announced A roundtable discussion on ‘What Buyers Want’ among the experts of the Northern region The Construction World Architect and Builder Awards (CWAB) organized by FIRST Construction Council has added a new dimension this year to recognize regional players – architects, builders and interior designers, who are striving towards excellence. In the process of appreciating the talent in Building industry of the Northern region, nominees for 13th CWAB awards 2018 were announced today in New Delhi. Reports indicate that the real estate sector in India likely to reach a market size of $180 billion by 2020, from $126 billion reported in 2015. What’s more, the housing sector’s contribution to the Indian GDP is expected to almost double to more than 11 percen...

Real-Estate Weekly News Round Up.

Welcome to RealtyMyths Weekly News Round-Up. Here, we bring to you the major updates from the real estate sector, in case you missed them. One of the major development came from the Haryana RERA where served a notice on Supertech for cheating homebuyers Apparently, the notice was issued on a complaint filed by a Sector 46 resident against Supertech Limited for the project ‘Officer Enclave’. As per HRERA, it did not approve any such project, nor any plan for it. Another major news came from Noida when, on July 9th, the Prime Minister Narendra Modi and his South Korean counterpart, visited Noida sector 81 to inaugurate Samsung’s 35-acre mobile handset manufacturing plant which will be, eventually, world’s largest mobile factory. Obviously, it will have a huge impact o...

Puravankara plans to build around 8 million sq. ft. of commercial office space in the next five years – Ashish R. Puravankara, MD, PURAVANKARA LTD.

Ashish has played a pivotal role in the success story of Puravankara, his resilient innovative skills are being leveraged in strategy formulation, operations, financial management and enterprise development. Presently, he is responsible for running the end-to-end businesss with his primary focus on the identification of opportunities for Puravankara Limited. Ashish is the President of The Confederation of Real Estate Developers Association of India, Bangalore Charter (CREDAI) and is a member of Youth Presidents’ Organization (YPO), Bangalore. In a candid conversation with Mr. Ashish Puravankara, the Managing Director of Puravankara Limited, RealtyMyths tried to understand the company’s future plans. Here are the excerpts: Hello Ashish! You have played an eminent role in the success of pura...

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