We are all talking about reforms in the Indian real estate. However, while a structural reform is the need of the hour, it is equally important to understand that efforts to regulate the sector by almost all possible players in the ring are actually detrimental for the overall growth of the sector. This also raises the fundamental question as to reforms at what cost and for whose benefit.
Beyond inventory statistics, and the customary positive outlook for the year ahead, 2019 has yet again underlined the need to read the pulse of the market dispassionately to learn why the tide has been going against. The lessons are equally true for both the builders and the buyers. Unfortunately, the sector does not seem to learn the lessons yet again. The testimony of the developers’ defiance is their guarded optimism for the year ahead, while dismissing the 2019 as yet another challenging year that has gone by.
A closer look suggests it is just the first step…
Track2Realty-Agencies: The fate of the Real Estate Regulatory Bill hangs in balance even after PMO steps in to resolve differences between two ministries—Housing and Urban Poverty Alleviation and Urban Development— threatening to further delay the long pending Bill. The PMO has reportedly stepped in and directed the warring ministries to quickly resolve their issues over the bill which aims to protect property buyer’s interest from unscrupulous realtors.
The Securities Exchange Board of India (SEBI) has introduced amendments to the REIT Regulations 2014, which outlines provisions for the formation of Small and Medium Real Estate Investment Trusts (SM REITs). With this the built environment of the Indian real estate has gone euphoric with the underlying promise to witness windfall into fractional ownership. It is perceived to be more lucrative than the existing REITs since the SM REITs encompasses both commercial and residential properties under the guidelines. A Track2Realty report.
Fractional Ownership is an evolving concept, on the lines of REIT but very different from REIT. Unlike REIT, which is a listed entity owning income producing real estate, Fractional Ownership is coming together of investors to pool their funds and jointly purchase real estate. Though in its very essence, the idea is to rent it out and earn the equitable rentals, many ‘office for a limited purpose’ investors are also getting into Fractional Ownership for convenience. A Track2Realty analysis.
Ever since the Securities and Exchange Board of India (SEBI) has cleared the fractional ownership framework for realty assets, there is an euphoria among the stakeholders. The built environment of Indian real estate that is always looking for new and exciting avenues to attract the investors. It has hence carried home the message that the “Next Big” investment basket has arrived. A Track2Realty report.
Corporate governance is a core principle that cuts through the entire value chain of Puravankara, claims Abhishek Kapoor, CEO of Bengaluru-based company. In an exclusive interview with Track2Realty, he shares how transparency, integrity and respect are central to the company’s internal and external stakeholder relationships. Puravanakara has also established a strong ESG framework that guides the decisions as a business and a responsible corporate citizen. Excerpts of the interview:
The changes in the land laws in Jammu & Kashmir has mostly been debated from the political standpoint. However, it has a direct linkage with the way the property market would shape up in a tourist destination that has thus far been seen as a hostile destination. The moot point today is whether the changed land laws would lead to any tangible difference in the property market over there. Will the developers actually flock to land scouting in this part of the world?
The 3rd ASLI Annual Senior Care Conclave starting, 22nd Jan, 2021, announced the Association of Senior Living India (ASLI) collaboration with Standards Wise International’s Indian subsidiary – Standards Wise International India (SWII) and CommonAge (CA) to roll out the first-ever standards and accreditation matrix for the private sector in the space of senior living and care communities in India.