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.
The Indian strategy in the hospitality segment seems to be borne out of the demand-supply market dynamics. An industry survey estimates that the three major Indian metropolitan areas—Bangalore, Mumbai and Delhi—command some of the highest hotel rentals in the world.
It is not just real estate developers and national & international hospitality majors, but several high net worth individuals and business groups from sectors like auto, petroleum and telecom have grabbed hospitality assets, marking a strategic trend shift. Track2Realty analyses how opportunities and roadblocks co-exist in the hospitality, thus making it an interesting sector where there is room for everyone to grow.
While business travellers’ hotel is an established concept in several European countries, the concept is yet to catch fancy in India.
Fairmont Raffles Hotels International (FRHI) has joined the list of global hospitality majors who are upbeat about the India growth story.
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.
A growing number of investors from India are showing interest in Dubai as they look to capitalize on 60 per cent savings per square foot in the Dubai property market, a Dubai-based real estate company has said.
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
Global financial meltdown and the NRIs fear psychosis with the collapse of financial institutions seems to have by default been the catalyst to the realty boom in Punjab.
SFS Homes, a noted builder from the south Indian state of Kerala, is in Qatar to promote its latest projects at Thiruvananthapuram, Kochi, and Guruvayoor.