Track2Realty-Agencies: RBI has asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of “innovative” housing financing schemes.
Track2Realty: SARE Homes has launched ready-to-move-in apartments called “Dewy Terraces” in its residential township called SARE Crescent ParC located on the OMR road in Chennai.
Track2Realty-Agencies: With real estate in East Africa fast emerging as a big opportunity, Reliance Industries, in a joint venture with Delta Corp, has purchased land worth Rs 200 crore in Kenya for development of housing and office properties and is already making good profits.
Track2Realty: The real estate sector has been hoping against hope that the rates will be marginally cut in order to keep the sentiments bullish. Reports of foreign funds warming up and the substantial contribution of the sector, 6 plus to the Indian GDP was also being seen as an indication of why the policies would be eased.
Track2Realty Exclusive: Kruti Jain, Director, Kumar Urban Development, believes any funding available in real estate is gap funding. It is not about only the gap which is there in funding for real estate because what happens for other industries is that they have this reserve capital which is not their land or raw material, but is the actual capital they put in to manufacture xyz product and then they replenish the funds with whatever returns are accrued.
Track2Realty Exclusive: Come budget and the real estate in the last few years seems to have been repeating the rhetoric of industry status. As a result, year after year it has been a case of realty proposes and the Finance Minister disposes. However, the sector on the eve of 2013-14 makes a strategic shift to be more realistic with its causes and concerns.
Track2Realty-Agencies: Real estate industry and property consultants today hailed the RBI’s decision to cut key policy rates, saying that it is a positive step that would boost housing demand and encourage foreign investment in the sector.
Track2Realty Exclusive: NCR and Mumbai account for 60-70 per cent of the total deals, along with some top tier I cities. Some tier II cities are also witness to sizeable land deals. Most of the land purchases will be done by regional smaller players instead of big developers, Cushman & Wakefield (C&W) Executive Managing Director (South Asia) Sanjay Dutt says.
Track2Realty Exclusive Yearly Analysis: The cash in the industry is fast drying up. Not because banks are reluctant to finance projects but because investors are now shying away as realtors are not being able to deliver on the high returns they promised to investors.
Track2Realty: A cautious RBI decided to keep key policy rates untouched, and the sector reacted insipidly to the RBI’s decisions, which were taken after its mid-term quarterly policy review. While many financial analysts termed its move as “over cautious” one and said that they were expecting a cut in key rates, realty reeling under a whole lot of issues and living on a wish of market revival in the year ahead said the decision to leave policy on hold has no immediate implications for the real estate sector.