The UT District Consumer Disputes Redressal Forum has penalized Emaar MGF Land Limited Sector 17, for ‘gross deficiency in services’ and ‘unfair trade practice’.
Global experience has it that typically convention centres are done as part of a large integrated township, commercial complex (hotel, office and convention center). Hence such projects are of more interest to large developers.
The Delhi High Court on Tuesday, July 24, asked the Centre and the DDA to resolve the dispute of alleged extra flats built by real estate major Emaar MFG in the Commonwealth Games village, coming in way of allocation of accommodation to buyers.
No leniency should be shown to “unscrupulous litigants” who file “meritless” petitions in different foras to cover up their faults, the apex consumer commission has held while asking a real-estate firm to pay Rs 7.7 lakh for not handing over possession of flat in time.
Sops and tax incentives goaded many developers across the country into institutional projects of Convention Centres and Habitat Centres. However, replicating Hyderabad project proved to be a far cry and successful execution has been few and far between. Track2Realty investigates why the potential of MICE segment could not be tapped by the Indian realtors.
Most regions in the top metros have seen prices soar by double digit percentages in the last three years with areas in Mumbai and Delhi-NCR witnessing maximum price gains. In Delhi, Dwarka and Gurgaon regions saw 64% and 50% price rise in 2012 when compared to 2010. In Mumbai, Mira Road, Thane and Navi Mumbai saw prices increase within the range of 48% and 51% during the same time period. These are the findings of 99 acres.com study on the trends in realty prices of key metros.
Beyond what is happening in the strategic board room meetings of realty companies, market is cautiously optimistic that with the inventories piling up, developers will sooner or later be forced to blink. A look at the recent developments in the sector does indicate that prices can come down, but it all depends on the builders holding power.
The real estate sector accounted for a sizeable proportion of total investment, as of December 2011, in seven of the top 20 States, an Assocham study said on Monday, July 16.
Growth in the property business in Asia Pacific this year will be driven by many countries and not just China as in the recent past, according to DTZ survey. The region’s solid performance will be supported by strong growth in the use of equity for investment as opposed to debt, intra-regional investment, and increasing willingness of banks to lend, the company says in its research report Money into Property 2012.