Considering the amount of negative press they get, it is not immediately apparent that there are also less negative ways of looking at them. For instance, slums represent an extremely high-density model of residential settlement. In this respect, they make the most efficient use of limited land possible.
Global property consultant Jones Lang LaSalle has cautioned that housing prices in Delhi-NCR and Mumbai have reached the peak level of 2008 and any further rise in the rates will adversely affect the demand. It said the prices in the rest of the country may firm up by about 10-15% next year to touch the 2008 level.
After the Convention of confederation of real estate developers’ association of India (CREDAI) where the Finance Minister Pranab Mukherjee urged the realty sector to be poor sensitive, it seems the affordable housing is the buzz word now. National Real Estate Development Council (NAREDCO), the apex body for real estate and housing sectors under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India, also announced that its convention is aimed at realizing the “Housing for All” call of Prime Minister of India, Dr. Manmohan Singh.
The 10th National Convention (NATCON) of Confederation of Real Estate Developers’ Association of India (CREDAI) is being held in New Delhi, Dec 16-17, and the focus this year is on the affordable housing. The convention will be attended by more than 600 leading real estate developers, heads of financial institutions, fund managers, bankers, state & central government representatives, realty professionals and international experts. The convention will highlight the areas of concern in providing affordable housing to meet the growing need of creating inclusive development in the sector.
While the foreign direct investment flows (FDI) dependent Indian realty market is awaiting a good fortune, a World Bank report brings cheer to the industry. It says the FDI into developing countries including India is expected to recover over the next couple of years and is projected to increase by 17 per cent in 2010.
Religion it seems is the buzz word for Raheja Developers to attract more buyers. The company has launched ‘Raheja Vedas’ a residential project in Sec-108, Gurgaon. Situated near the upcoming Dwarka Expressway, the diplomatic enclave Dwarka in Palam Vihar, Vedas claims to be a modern facility with high-end specifications.
The Bangalore based Nitesh Estates Ltd has announced the launch of a high-end villa project in Goa – Nitesh Fisher Island. The project spread over 9.3 acres and comprising 36 very high-end villas, exclusively designed for the who’s who of the country.
Noida, once projected as the largest industrial town in Asia, is today one of the best location for residential purpose too in the Delhi-NCR region. It is also emerged as the gateway to the investors in Uttar Pradesh. New Okhla Industrial Development Authority, or better known as Noida only, was developed in the 1970s as a modern industrial city under the UP Industrial Area Development Act, 1976.
Confusing it may sound, but a project called Delhi One has been launched in Noida by the trend setter of green building concept in India The 3C Company. This mega mixed-use project incorporating residential, commercial, retail and hospitality zones is spread across 12.5 acres at Sector 16-B, Noida.
The Gurgaon-based real estate developer, Orris Infrastructure, has launched a new age commercial complex ‘Business Square’ in Sector 82A, New Gurgaon. The project, which is spread over an area of 9.5 acres, has three towers that will offer office space and also includes a convention centre, 5-star and business hotel, according to the company.