Kolkata
Knight Frank’s latest report focuses on uncovering the relationship between the developer and the suppliers of factor inputs such as Land and Construction costs. Land is the most significant input for property development. Analysis of land allotment policy of some of the major land aggregators provides interesting insights: City and Industrial Development Corporation (CIDCO) follows [...] Continue Reading »
The Confederation of Real Estate Developers Association (CREDAI), on Wednesday, called for comprehensive reforms in areas related to land administration, banking and taxation to lift the realty sector and support in meeting the shortage of 26 million houses. CREDAI unveiled 10-point agenda to revive the sector, which is facing demand slowdown due to high interest [...] Continue Reading »
Recently a wetland at Pirtala in Kolkata Municipal Corporation (KMC) area has been filled up in broad daylight and been allocated into plots by land sharks and are being sold at Rs 3.25 lakh per cottah. Located in Chowbaga, the 52-bigha waterbody was filled with marsh around. In the summer, the water dried up, leaving [...] Continue Reading »
The Kolkata Metropolitan Development Authority (KMDA), following the controversy over Pinki Pramanik’s plot off EM Bypass in Kasba, has decided to speed up work of preparing a report on the detailed status of all land sold off EM Bypass, including residential plots and flats. The KMDA has started work on preparing the status of land [...] Continue Reading »
The Confederation of Real Estate Developers Associations of India (CREDAI), the apex body of real estate developers from across the country, expressed that the government’s policy paralysis has severely impacted the real estate sector which is facing stagnation in growth. CREDAI National President, Lalit Kumar Jain said that the economy is in a bad shape [...] Continue Reading »
Indian realty market witnessed nosedive in the April-June quarter of 2012. Sales volume and absorption rates were low in the residential sector. High inventory and slow execution of projects, were the major concerns. The commercial real estate market experienced low office space absorption and a slight drop in rentals in the metros. Experts feel that [...] Continue Reading »
Assocham study reveals that the real estate industry is attracting substantial investments in seven of the 20 top well-performing states even as the property market is facing slowdown. Almost 50 percent of Haryana’s investment is being done in realty sector since December 2011. The services sector accounted for about 34 per cent of its total [...] Continue Reading »
Realty giant DLF is all set to sell at least two out of the three non-core businesses as it plans to cut its Rs 23,000 crore debt to about Rs 17,000 crore in the current fiscal. DLF Group Executive Director Rajeev Talwar revealed that the group is all set to sell its luxury hospitality chain [...] Continue Reading »
In a recent report, Jones Lang LaSalle India (JLL) suggested that as compared to some major cities like Mumbai, NCR, Bangalore, Pune and Chennai, cities like Ahmedabad and Kolkata have an advantage due to high proximity of affordable housing projects to city center. At 15-20 km Ahmedabad and Kolkata offer the closest proximity to central [...] Continue Reading »
Though hotel business may have been witnessing a slow growth in the recent years, the InterContinental Hotels group is buoyant about the long-term demand in the country and is planning to develop 47 hotels within next five years. Chris Moloney, chief operating officer, South West Asia, IHG told at the moment the hotel chain is [...] Continue Reading »
