Fall in property prices after disasters only temporary
Home prices, even in flood zones, tend to bounce back to the pre-disaster levels. After the 2005 tsunami, there were dire predictions that the passion for owning a home overlooking the sea in Chennai would take a backseat and demand would fall by over 60-70 per cent. But anecdotal data on coastal property prices in Chennai shows that prices, which fell to half after the tsunami, recovered to earlier levels within two years. “In some of the major economies of the world, such as the UK, flooding has a short-term impact on the property prices and then the prices normalise within three year’s time”, says Bikram Sen, Director and CEO, ArthVeda Fund Management.
Huda urged to repair risky stretch near Malibu Towne
Residents of Malibu Towne in Sector 48, have written to the Huda administrator about the poor condition of the road in front of the township after a woman residing there met with an accident near JMD building. According to the residents, crater-like potholes at the intersection near JMD building have become a major cause of concern. On Saturday, Shikha Talwar (name changed) was injured when her car got stuck in a massive pothole on Sohna Road outside Malibu Towne society. Source: TOI,
India Property Advisors raises Rs 175 crore in maiden property fund
Mumbai-based financial services company India Property Advisors (IPAL), led by Ramesh Jogani, former head of property fund Indiareit, has raised about Rs 175 crore. The fund, IPAL Residential Opportunities Fund 1, which focuses on the Mumbai property market, will use the money to purchase apartments in bulk. The fund, raised largely from high net-worth individuals and family offices, will continue to raise money until March and has just concluded its first deal.
Read more at: ET
FDI gets reform push in 2015, Government expects 45% jump in 2016
Bullish on a series of reforms unveiled in the year passing-by, the government expects FDI inflows to rise by 40-45 per cent in the New Year while further steps could be on anvil to attract foreign capital. As per the latest available figure for 2015, FDI inflows during January-September period has increased by 18 per cent to USD 26.51 billion. In the entire 2014, India had received FDI worth USD 28.78 billion as compared to USD 22 billion in 2013. “FDI will grow by 40-45 per cent in 2016 despite the global slowdown. The government has taken vast number of policy measures this year,” Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant told PTI.
Read more at:ET
Action speaks louder than words – Ankit Aggarwal, CMD, Devika Group
Devika Group, after its inception in 1970, has already established a strong existence in the real estate landscape of Delhi NCR. The group has already built a number of high-rise buildings in and around Delhi, both inhabited and profitable creating a landmark in the region. Dwelling marketable buildings are: Devika Tower in Nehru Place, Devika Tower in Chander Nagar and the residence suburban complex Devika Apartments in Vaishali are a few of the impressive projects of the Group. Ankit Aggarwal, CMD, Devika Group shared his journey in a candid conversation with Team RealtyMyths
WHY SO SERIOUS? BRIGHTER DAYS ARE COMING AHEAD!!
Real estate is a serious business; it involves one’s lifetime investments and savings. Millions of customers look out for their abode every year; thousands of developers lure them of their dream homes. This demand and supply matrix produces millions of jobs for both skilled and unskilled sect of the society. More than 250 allied sectors find their businesses amidst these transactions. No doubt, Indian real estate is one of the largest contributors to country’s GDP. From the current rate of 6-7%, the sector has potential to enhance its contribution to almost 15% by the year 2020. However, sector’s growth has stagnated in last few years. This has made the developers, even more, serious about their future.RealtyMyths