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India’s Logistics Space Set to Outperform Global Benchmarks

India’s logistics sector, which is one of the most widely spread sectors across the country with multiple stakeholders, with 60% of the transportation happening through a strong road network against the global average of 30%-40%, according to the latest report, “India: Evolution of Integrated Logistics – Aiming Transformation Through PAGI” published by JLL Industrial Services Research today at CILT India Expo 2019. According to the report, optimized use of roads is possible by building up enhanced hinterland infrastructure and specialized storage space spread over the country. Warehouse, one of the prime elements of the industry, has become one of the most attractive real estate asset segments for domestic and foreign investors. It has witnessed ~38 mn sq.ft. of absorption in 2019. Accordi...

Real Estate Expectations from Modi 2.0 – RealtyMyths

Since Modi came to power in 2014, people discussed many decisions taken by the govt. We thought that it will be good to discuss the various decisions taken by Modi govt. from 2014 to 2019, which changed the entire landscape of real estate marketing in India. This will also set the agenda of 2019 to 2024 real estate market. The concept of affordable housing – The first step taken by Modi govt. is the introduction of an affordable housing scheme. This scheme opened the horizon to many people who never thought that they will be able to get a flat in a metro city like Delhi, Mumbai or Bangalore. The initiative also helped many developers to explore a market which never existed. The result As the affordable housing got picked, the developers who were serving in the Mid and luxury segment,...

Despite RERA, one-fifth of home buyers prefer refund, says Magicbricks

– 72% buyers want to file RERA complaint for delay in possession -19% home buyers would prefer a refund in case of delayed possession Ever since it was formed two years ago, Real Estate (Development and Regulation) Act 2016, (RERA) has brought in a ray of hope and is the first choice for home buyers when it comes to fighting inordinate delays in possession of their flats but significantly one out of five home buyers still prefer a refund in case of delays, revealed a Magicbricks Consumer Poll. According to the poll by Magicbricks, India’s No. 1 property site, 72% home buyers would like to file a RERA complaint in case of delay in possession while 19% would like to ask for a refund and just 10% would like to wait for possession if the project gets delayed. “In the last two years, RERA...

Self-Redevelopment: The Future of Mumbai Real Estate? – RealtyMyths

  Redevelopment is a fact of life in any ageing, land-starved metropolitan city. In India, no city defines this dynamic quite as accurately as Mumbai. The conventional norm of redevelopment in India involves appointing developers to redevelop old and dilapidated housing projects. However, several housing societies in Mumbai are now contemplating self-redevelopment instead. We can dispense with the usual metaphor ‘not as easy as it sounds’ – this does not sound easy by any definition, and it isn’t. Broadly, some homeowner groups are now taking the route of appointing their own architects, contractors and project management consultants to execute the redevelopment of their projects. These can be single stand-alone buildings or housing societies of more than one b...

Srinivasan Venkatakrishnan (“Venkat”) takes charge as Chief Executive Officer of Vedanta Resources plc

~Industry veteran also inducted as member of the Board of Directors~ Vedanta Resources Plc (“Vedanta”) announced today that Srinivasan Venkatakrishnan, popularly known as Venkat has taken charge as the Chief Executive Officer (CEO) of the company with effect from August 31, 2018. He has also joined the company’s Board of Directors. Commenting on the appointment of Venkatakrishnan, Anil Agarwal, Chairman of Vedanta said, “I’m delighted to welcome Venkat who joins us today as Chief Executive Officer of Vedanta Resources Plc. Venkat joins us from AngloGold Ashanti and brings unique perspectives on the global business environment, having a true multi-cultural career journey. His sharp technical skills, business acumen, strong set of ethics and values make him an exceptional leader....

Why is Indian Real Estate Industry not able to harness the power of BIM?

Authored by Mr. Arnab Ghosh, Director, Synergy Property Development Services Architects and Engineers across the world are increasingly using technology to make their lives simpler and work faster. One such innovation that has changed the way construction sector functions is Building Information Modeling (BIM). It has become an essential part of any project design today. It enables smarter and faster design process, intricate planning and visualization, to simulation and construction. This software helps teams to collaborate, innovate, and connect with clients in more productive ways than ever before. One of the most widely used BIM software is Autodesk Revit. The ease of making changes inspired the name Revit, an abbreviation of Revise-It. It allows users to design a building and structur...

Delhi Pollution: We need to go long-term, not knee-jerk

by Soumya Prakash A lot has been discussed about pollution in Delhi. There has been judicial activism to put a brake on pollution. Diesel to CNG conversion and this year’s Diwali eve ban on sale of firecrackers by the Supreme Court (SC) are just two such examples. This has led to a relatively cleaner Diwali giving some relief to people in general and especially those with chronic bronchial or lungs issues, children, and senior citizens. Responding to a PIL (Public Interest Litigation) filed by environment activist and lawyer M. C. Mehta way back in 1996, Supreme Court had issued a directive calling for the conversion of all buses, taxis, and three-wheelers to CNG (Compressed Natural Gas) in 1998. When diesel to CNG conversion happened, people thought pollution will be under control now. Bu...

Regulating Realty is a Good Idea

The Rajya Sabha Select Committee recently approved the Real Estate Regulation and Development Bill. It is a draft which holds the potential to change the overall image of real estate sector in India. Depending on its implementation, the draft will enable regulation of the hitherto unregulated sector. The main functionality of a regulatory bill is to safeguard the interest of consumers and help developers do business as per the stipulated guidelines. This draft bill has many elements that will help consumers crack a fair deal for their dream homes. The provision to launch or market a project only after getting all the necessary approvals will certainly benefit customers. This will check the fraudulent activities generally carried at lower levels especially by brokers and dealers. They will ...

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