#Real estate policy reforms Maharashtra

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Pune Real Estate Trends 2025: A Thriving Market for Smart Investments

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Exploring FDI Inflows by Indian States

Exploring Foreign Direct Investment (FDI) Inflows by Indian States

Foreign Direct Investment (FDI) plays a significant role in driving economic growth and development in countries around the world. In India, FDI inflows contribute to job creation, technology transfer, infrastructure development, and overall economic prosperity. While FDI inflows at the national level are often highlighted, exploring FDI trends at the state level provides valuable insights into regional economic dynamics and investment opportunities.

1. Overview of FDI in India:

FDI refers to investments made by foreign entities in Indian companies or projects, resulting in a lasting interest and significant control over the invested entity.

India has been attracting increasing FDI inflows across various sectors, including manufacturing, services, real estate, and infrastructure, driven by economic reforms, liberalization policies, and favorable investment climate.

The Government of India has implemented several initiatives to promote FDI, such as the "Make in India" campaign, easing of FDI regulations, and improving business environment and infrastructure.

2. Importance of State-level FDI Data:

While national-level FDI data provides an overall picture of foreign investment in India, analyzing FDI inflows at the state level offers insights into regional disparities, investment patterns, and sectoral preferences.

Understanding state-level FDI trends helps policymakers, investors, and businesses identify opportunities, address challenges, and formulate targeted strategies to attract investment and foster economic growth in specific regions.

3. Key Factors Influencing State-level FDI Inflows:

Economic Potential: States with strong economic fundamentals, including robust infrastructure, skilled labor force, market size, and business-friendly policies, tend to attract higher FDI inflows.

Sectoral Strengths: States specializing in sectors such as IT/ITeS, manufacturing, pharmaceuticals, and renewable energy are likely to receive significant FDI investments based on their comparative advantages.

Policy Environment: States with transparent and investor-friendly policies, efficient regulatory framework, ease of doing business, and incentives for investors are more attractive destinations for FDI.

Infrastructure Development: Adequate infrastructure, including transportation, power, logistics, and connectivity, is crucial for attracting FDI and supporting business operations.

4. Analysis of State-level FDI Data:

Analyzing state-wise FDI inflows enables stakeholders to identify leading and emerging investment destinations, sectoral preferences, and investment trends over time.

States such as Maharashtra, Karnataka, Delhi, Gujarat, and Tamil Nadu have historically been major recipients of FDI due to their strong industrial base, infrastructure, and business environment.

Emerging states like Telangana, Andhra Pradesh, Uttar Pradesh, and Rajasthan are also attracting increasing FDI inflows, driven by sector-specific initiatives, infrastructure development, and proactive investment promotion strategies.

5. Policy Implications and Way Forward:

Policymakers need to focus on enhancing the investment climate, infrastructure development, skill development, and sector-specific incentives to attract FDI in less developed states and regions.

Strengthening inter-state cooperation, knowledge sharing, and best practices exchange can facilitate learning and replication of successful investment promotion strategies.

Continued efforts to improve ease of doing business, streamline regulatory processes, and address bureaucratic hurdles are essential to enhance India's attractiveness as an investment destination at both national and state levels.

In conclusion, exploring FDI inflows by Indian states offers valuable insights into regional economic dynamics, investment opportunities, and policy implications. By leveraging state-level FDI data, policymakers, investors, and businesses can formulate targeted strategies to promote investment, foster economic development, and achieve sustainable growth across different regions of India.

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Budget 2024 Expectations: Live Updates on Anticipated Changes in India Inc.

Live Updates on Union Budget 2023: Finance Minister Nirmala Sitharaman is poised to present the final comprehensive budget of the Modi government before the upcoming 2024 Lok Sabha elections.

Live Updates on Budget 2024 Expectations: On February 1, 2024, Finance Minister Nirmala Sitharaman is scheduled to unveil the last budget of the current Narendra Modi government. Given its proximity to the Lok Sabha elections, speculations abound regarding whether it will be an Interim Budget or a Vote on Account. The critical question remains: will significant relief measures be announced for income tax payers and salaried individuals? Speculative discussions surround potential revisions to income tax slab rates for FY 2025, affecting both the old and new income tax regimes. Will efforts be made to make the new income tax regime more attractive to taxpayers? In the previous year’s budget, FM Sitharaman implemented substantial changes in the new income tax regime, now the default tax structure. Additionally, a historic capital expenditure was announced to stimulate economic growth. Stay tuned to Mint Online for live coverage of Budget 2024 expectations across various sectors.

Budget 2024 Expectations Live: A major focal point for the Government continues to be affordable housing

Sandeep Runwal, President of NAREDCO Maharashtra, underscores the real estate industry’s crucial role as the second-largest employment generator and highlights its potential for transformative changes in the economy. As the sector anticipates the 2024-25 budget announcements, it looks forward to measures that could significantly impact its trajectory. Runwal acknowledges the reforms and incentives introduced by both Central and State governments in the previous year to boost economic growth, emphasizing the sustained momentum in the real estate sector.

Budget 2024 Expectations Live: EV sector on Battery swapping policy

R K Misra, Co-Founder and President – Ecosystem Partnerships at Yulu, emphasizes the need for a National Battery Swapping Policy, providing clarity on incentives, taxation, certifications, and network expansion. The company sees this policy as crucial for enhancing investor confidence. Yulu also advocates for a GST reduction (to 5%) on Li-ion battery packs used by Battery as a Service (BaaS) operators, aligning it with the tax rate for battery-fitted Electric Vehicles (EVs). Furthermore, Yulu calls for a reduction in GST on transactions related to EV charging and battery-swapping from 18% to 5%, aiming to benefit price-sensitive retail customers and foster the growth of institutional setups for charging and battery management.

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Know Insights about MD of Hiranandani Group - Niranjan Hiranandani

Born on March 8, 1950, Niranjan Hiranandani is a millionaire Indian businessman who specializes in real estate. He is also a co-founder and managing director of the Hiranandani Group. His net worth, as of June 2021, was US$1.6 billion, placing him among the 100 richest Indians according to Forbes.(Source: )

According to the Grohe Hurun survey, he was one of the top 10 Indian real estate tycoons in 2020.According to the IIFL Wealth Hurun India Rich List (2020), he ranked as the second richest individual in the real estate sector in 2020. Hiranandani is the owner of the privately held Hiranandani Group, along with other family members.

Early life and education

Mumbai is where Hiranandani was born. The Hiranandani clan hails from Sindh. Lakhumal Hiranand Hiranandani, his father, was an ENT surgeon who was also the winner of the Padma Bhushan award from the Indian government. Niranajan Hiranandani has two brothers: Surendra is his younger brother, and Navin is his elder brother. Hiranandani received his education from Campion School in Mumbai and graduated from Sydenham College in Mumbai with a bachelor's degree in business. He is an Institute of Chartered Accountants of India chartered accountant.

Career

Hiranandani began his working life as a teacher of accounting.[13] He established his first company, a textile weaving factory, in Kandivali, Mumbai, in 1981.

In 1985, he and his brother Surendra began a real estate company called Hiranandani Gardens after purchasing 250 acres of property in Powai, Mumbai.Currently, Hiranandani Constructions is renovating and launching two townships that it purchased for around ₹1,000 crore at a judicial auction. A township called Hiranandani Estate was constructed in Thane, Maharashtra, which is a part of the Mumbai Metropolitan Area.

 In 2006, Hiranandani Hospital was established in Thane, and in Powai, in 2011. He founded Yotta Infrastructure and is its founder and chairman. In its Integrated Yotta Data Center Park at Navi, he opened the second-largest data center in the world, called NM1.

Niranajan Hiranandani's name appeared in the Pandora Papers in October of 2021. It is said that he stashed $60 million in multiple offshore trusts.According to Hiranandani, his son Darshan Hiranandani, who resides in Dubai, is the rightful owner of the funds kept in the offshore account located in the British Virgin Islands.

Associations

17 schools have Hiranandani as a board member, including the Thane and Powai locations of the Hiranandani Foundation School.

In addition to serving as chairman of the Mumbai City, Development and Environment Committee of the Indian Merchants Chambers (I.M.C.) Hiranandani was the previous president of the Maharashtra Chambers of Housing Industry .

In addition, he serves as President of the National Real Estate Development Council (NAREDCO), an organization established by the Indian government's Ministry of Housing and Urban Affairs with the goals of advancing ethics and transparency in the real estate industry and developing the country's unorganized real estate market into a globally competitive industry.

The 100-year-old "Associated Chambers of Commerce and Industry of India" (ASSOCHAM) is the trade body of which he served as president. founded with the intention of influencing the nation's trade, commerce, and industrial environment.The International Chamber of Commerce has ASSOCHAM as a member.

Member of the Maharashtra government's study group on the Slum Rehabilitation Scheme and of the Government of India's task force on housing and urban development reforms.

Hiranandani served as the Federation of Indian Chambers of Commerce and Industry's (FICCI) president for real estate and as an advisor to the Indian government on housing and habitat policy.

Additionally, he was a key player in the establishment of HSNC institution, Mumbai, a recently established cluster institution. Despite being State-owned, the H(S)NC Board, one of the oldest educational trusts in India, which he has previously served as president of, will run and oversee this university. He will continue to be associated with the same when serving as the institute's "Provost" in the future. Notable Universities like K.C. College and H.R. College will be part of this cluster university.

Personal life

Niranjan Hiranandani is the spouse of Kamal Hiranandani, with whom he has a son, Darshan, and a daughter, Priya. Priya is wed to businessman Cyrus Vandrevala, who resides in London. Neha Jhalani, the daughter of businessman Pradeep Jhalani and his wife Shabnam Jhalani, of Delhi, is Darshan's wife.

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What are Post COVID Impact on Real Estate?

The Unprecedented Outbreak of Deadly Corona Virus has shaken the world thoroughly. The COVID impact is quite evident in all these sectors however it has lead major impacts on Real Estate in India. The second wave of Corona has spiked thirteen fold increase in cases with an active number of 3,79,308 cases.

In the Year 2020, everyone Learned New Normal of Work from Home however there are different changes that took place in real estate. Due to Lethal Resurgence of COVID-19 real estate may get off track Despite the New Normal as reported the Realty Experts. In India corona cases has surpassed United States and Brazil in terms of active cases with 12.8 million cases. The Corona Spike has affected Big Cities like Maharashtra, Delhi, Rajasthan, Gujarat and Orissa extremely. Strict Restrictions have been imposed in different side of nation with Night Curfews, Weekend Lockdown, and Part-Lockdown.

Observing the Current Condition, Home Buyers are likely to get affected due to COVID-19 and Demand for Real Estate property may fall as well. However, Different Practices are getting into force by Banking Institutions for instance Apex Bank on April 7, 2021 chose to sustain Policy rates with Status Quo. In addition, SBI has decided to Raise Home Loan Interest Rate by 0.25% which is a clear indication of Banks backing off from low interest rate scheme imposed in the previous Lockdown in 2020.

Major Impacts:

1- Increase in Affordability of Properties

A Major Impact is to be anticipated on the behavior of Home Buyers as Home loan Interest rates are low but with higher exemption. Residential Sector may witness the higher sales considering the Sales number during January to March 2021. Home buyers can attain Home Loans at 6.65% annual Interest as RBI is going with Continue with the same Repo Rate that is 4%. For the Home Buyers it turns out to be the happy news as contrast to January 2020 where a higher rate of 8% was witnessed. An affordable housing will be a favorable outcome to occur proffering an opportunity to acquire Properties with affordability.

2- Downfall of Commercial & Retail Real Estate in India

Pandemic effects can be seen as a serious concern for the Commercial & Retail Real Estate in India as work from home concept has dropped down the leasing deals of the Office spaces. an amount of 35 lakh sqft in Jan-Mar 2021 has been declined that was 70 lakh sq ft as correspondence period in the Year 2020. Therefore, leasing transactions are likely to witness considerable downfall in the Retail Real Estate.

The Demand of the Flexible Workspaces has surged and also turned out to be a hit. In accordance to experts Flexible workspaces shall increase by 38 mnft in next one Year. The lockdown extension has made big downfall in Commercial & Retail Real Estate if it continues it may lead to serious concern for the industry.

What’s Good amid Pandemic?

The Higher spike in the COVID cases and restrictions is an adversary for everyone. Nevertheless, if we see what’s good in such situations there are considerable points that may arise a ray of hope among the realtors.

Restored Normalcy Due to Vaccine

The Year of 2020 introduced new lessons to everyone where we got introduced to new normal but also faced complications due to the lethal virus however in 2021 AstraZeneca’s Coronavirus Vaccine has given a sigh of relief. Economy is expected to witness momentum in 2021 & higher optimism due to introduction of Vaccine. A significant improvement in the economy status will be evident that’ll surely lead to higher growth.

Considering the current reports, Residential Housings is again getting stronger in sales and impact of coronavirus anticipated to be minimal in contrast to 2020. This is a clear indication of the full-fledged recovery of the Real Estate & reformation of multiple Efficient Strategies.

Rise of Remote working & Digitalization

The rise of remote working and digitalization is on peak all thanks to Covid Impact. the unprecedented situation made people smarter & efficient to find new way of working. A prolonged lockdown experiment has helped people not only to break the corona chain but to also exercise daily jobs with the help of digitalization. Multiple Revenue Targets have been met in commerce with the active access through digital Portals. in addition, rise of digitalization has taken down all the limitations related to work as now it can be completed from the comfort of home as well. accordingly, increase in efficiency and productivity of the employees without any wastage of time is a win-win situation.

Hence, we can say that technology has come out as the saving grace and key to cope up with Businesses.

In conclusion, Post COVID Impact in 2020 had extremely impacted the Real Estate. Better Days are expected in 2021 as amid growing corona cases Increasing Demand for Residential Properties is a evidence of it for Real Estate sector. Here’s an opportunity as during this time, Realty Experts in different sectors can readdress strategies for coping up with Pandemic Damage. However, the widespread of Corona cases has enlightened the need of Modern approaches to Business with transformational methods.

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Eco-friendly Tiles Market: 2021 Industry Size, Trends, Regional Demand, Top Vendors, Future Prospects, Business Development Strategies and Forecast by 2023

Scope of the Report:

This study provides an overview of the Global Eco-Friendly Tiles Market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global eco-friendly tiles market, by type, by product, by end-user, and region.

Market Highlights:

Eco-friendly Tiles are replacing traditional tiles in construction and they are easily available in the market. These are made from renewable materials such as clay and scrap metal. They are gaining popularity in various construction projects or buildings. The growth in remodeling and restructuring of the homes, is expected to fuel the demand for the eco-friendly tiles market. The manufacturing process of the eco-friendly tiles is energy efficient with less waste production leading to minimal impact on the environment. Also, the concept of using recyclable material in manufacturing eco-friendly tiles, brings down the overall cost of eco-friendly tiles. Hence, growing focus on environmentally sustainable green building construction materials, reduces overall expenses, which has boosted the industry growth. However, high cost of tiles may restrict the growth of the market.

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The governments across all regions are seen promoting and developing their construction sector. The emerging nations are the ones that are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market. Such growth is expected to augment the market growth of eco-friendly tiles. The government of India announced several major policy initiatives such as change in arbitration norms for construction companies, and many others to boost the construction industry in the country. The passage of the Real Estate (Regulation and Development) Act 2016, the amendment to the Benami Transactions Act, and 100% deduction in profits for affordable housing construction, are also some of them.

Geographically, Asia Pacific region is the largest and fastest growing market for the eco-friendly tiles. Increasing spending capacity of the consumers and improved living standard drive the growth of the Asia Pacific market. China, Japan, India, and Singapore are their major markets. North American countries are also expected to contribute, significantly, during the forecast period.

Market Research Analysis:

For the purpose of this study, the global eco-friendly tiles market has been segmented by type, by product, and by end-user. On the basis of product, the market has been segmented as floor tiles, wall tiles, and others. The floor tiles segment will register the highest CAGR during the forecast period.

On the basis of end-user, non-residential dominates the end-user segment of the market and is expected to grow at the highest CAGR during the forecast period. Non-residential sector, comprising hotels, corporate offices, and education institutes, is expected to contribute, significantly, during the forecast period. In many emerging economies such as China, India, Indonesia, Thailand, Brazil, and Mexico, many people are shifting from rural to urban areas. Hence, increasing population and lack of housing structures are forcing these governments to invest into the construction sector. This would create another opportunity for the eco-friendly tiles, in these countries.

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Key Players:

The prominent players in the eco-friendly tiles market include ANN SACKS Tile & Stone, Inc. (U.S.), Arizona Tile (U.S.), Bedrosians Tile & Stone (U.S.), Marazzi Group S.r.l. (Italy), Villagio Tile & Stone (U.S.), Dal-Tile Corporation (U.S.), Wausau Tile, Inc. (U.S.), Terra Green Ceramics Inc (U.S.), EnviroGLAS Products Inc. (U.S.), Crossville Inc. (U.S.), Johnson Tiles (India), Nemo Tile Company Inc. (U.S.), Florim Ceramiche S.P.A (Italy), Vitromex USA (U.S.), and Division Iris Ceramica (Italy).

Table of Content

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter's Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Bargaining Power Of Suppliers

3.1.4 Threat Of Substitutes

3.1.5 Segment Rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Eco-Friendly Tiles Market, By Type

5.1 Introduction

5.2 Porcelain

5.2.1 Market Estimates & Forecast, 2017-2023

5.2.2 Market Estimates & Forecast By Region, 2017-2023

5.3 Ceramic

5.3.1 Market Estimates & Forecast, 2017-2023

5.3.2 Market Estimates & Forecast By Region, 2017-2023

5.4 Terrazzo

5.4.1 Market Estimates & Forecast, 2017-2023

5.4.2 Market Estimates & Forecast By Region, 2017-2023

……………

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Global Recycled Plastic Tiles Market – Industry Analysis and Forecast (2019-2026) – By Construction Material Type, Techniques, Material, Application and By Region.

Global Recycled Plastic Tiles Market is projected to reach USD xx Billion by 2026 from USD XX  Billion in 2019, exhibiting a CAGR of XX % during 2019-2026

Plastic tiles, are made with 30% plastic waste and 70% sand. The waste plastic comes in many forms and kinds, have various melting points. These recycled plastic roof tiles will wear longer than metal roofing. The addition of sand to the mix gives these tiles considerable durability and it is environmentally safe and does not emit harmful substances. These tiles do not interfere with the reception of radio waves, television programs and does not attract electricity.

Rising prices of conventional plastics along with the growing concern for the environment sustainability act as some of the key factors driving the overall growth of Global Recycled Plastic Tiles Market. Recycling plastics reduces the amount of energy and natural resources required to create virgin plastic. Therefore, shifting focus towards growth and preserving the natural resources is upsurging the demand for recycled plastic tiles across the globe.

In Asia Pacific (APAC) region, mainly China and India among others are focusing on manufacturing, reusing, reprocessing of plastic. Polyethylene terephthalate (PET) and high-density polyethylene (HDPE) are two key segments that are profiled under the scope of the Global Recycled Plastic Tiles Market report in the material type segment. The rise in infrastructural investments in APAC region together with government policies have resulted in real-estate companies opting for recyclable plastic tiles for environmental sustainability, thereby boosting the overall demand for Global Recycled Plastic Tiles Market.

The objective of the report is to present comprehensive analysis of Global Recycled Plastic Tiles Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Recycled Plastic Tiles Market dynamics, structure by analyzing the market segments, and project the Global Recycled Plastic Tiles Market. Clear representation of competitive analysis of key players by Global Recycled Plastic Tiles Market Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Recycled Plastic Tiles Market make the report investor’s guide.

For more information visit the link given below

https://www.maximizemarketresearch.com/market-report/global-recycled-plastic-tiles-market/10829/

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Global Recycled Plastic Tiles Market

Key Highlights:

• Plastic types. • Recycle plastic types. • Techniques used in Plastic Tiles manufacturing. • Plastic tiles benefits. • Market growth forecast. • Methods of sorting plastic. Key Players Analysed in the Global Recycled Plastic Tiles Market, report:

• Kuzabiashara • Shayna Ecounified India Pvt. Ltd • SUEZ Australia • OCOX Composite Materials Co., Ltd. • Huangshan Huasu New Material Science & Technology Co., Ltd. • Foshan Mexytech Co., Ltd. • Zhejiang Hemei Decoration Materials Co., Ltd. • Zhangjiagang Longree Technology Co., Ltd. • Plasgran Ltd. • Envisison Plastics • KW plastics • Mohawk Industries Incorporated • Worldwide Recycler Services • Hahn Plastics • OOTONE PLASTIC • Yixing Hualong New Material Lumber Co., Ltd. • Shandong Buwei Plastic Technology Co., Ltd. • Haining Fengyue Trading Co., Ltd. • Beijing Futeng Technology Development Co., Ltd. • NINGBO WEIMO ARTICLE CO., LTD. • Ripro Corporation • APR2 Plast • Recycling Technologies • Da Fon Environmental Techology • Jiangsu Zhongsheng

Key Target Audience:

• Industries to adopt new technology of plastic recycling • Local plastic manufacturer and recycler • Government and Other Regulatory Bodies • Manufactures • Raw Materials Suppliers • Aftermarket supplier • Research Institute • Education Institute • Potential Investors • Key executive and strategy growth manager Scope of the Global Recycled Plastic Tiles Market Report:

Global Recycled Plastic Tiles Market Global Recycled Plastic Tiles Market, By Source

• Rigid plastic • Non-rigid plastic Global Recycled Plastic Tiles Market, By Construction Materials Type

• Paving bricks • Floor tiles • Wall and roof tiles Global Recycled Plastic Tiles Market, By Technique

• Feedstock or Chemical Recycling • Hydrogenation • Glycolysis • Gasification • Hydrolysis • Pyrolysis • Methanolysis • Chemical Depolymerisation • Thermal cracking • Catalytic cracking and reforming • Photo degradation • Ultrasound degradation • Degradation in microwave reactor Global Recycled Plastic Tiles Market, By Material

• PET • PP • HDPE • LDPE • PS • PVC • Others (ABS, Nylon, Polycarbonate etc.) Global Recycled Plastic Tiles Market, By Application

• Industrial Purpose • Construction • Decoration purpose • Government projects • Others Global Recycled Plastic Tiles Market, By Region

• North-America • Europe • Latin America • Middle East • Asia Pacific

This report is submitted by Maximize Market Research Company

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Budgeting for the long run - real estate

The union Budget announced on February 1 dampened the high expectations of the real-estate sector, which has been reeling under liquidity challenges caused by the NBFC crisis. However, while developers and realty consultants feel there were no quick fixes offered to help the industry recover at the moment, there were positive takeaways for the long term.Aside from the affordable housing push and income-tax relief, there is a focus on alternative segments such as warehousing, establishment of data centres and smart cities that is expected to indirectly benefit the realty industry. Also the additional push on developing national highways and construction of airports will eventually become an ally for real-estate sector to grow further.A mixed bagThough the income tax relief provided is being lauded as a positive point, industry players aren’t happy about it. Viewing the tax cut as a standalone factor without any added benefits is a meaningless exercise. “The only way in which this Budget can boost the real-estate sector is by accelerating growth, thereby inducing demand for new homes,” says Satish Magar, national president of the Confederation of Real Estate Developers Association of India (CREDAI). “No sector-specific measures such as providing more liquidity for the sector, one-time restructuring of loans and tax deductions on home loans to give impetus to buyer sentiment were announced to revive the ailing sector, except for extending the tax exemption for one more year till March 2021, to affordable housing developers.”Lowering of income tax rates with removal of exemptions may not lead to any meaningful boost in consumption, adds Shishir Baijal, chairperson at realty consultancy CREDA. “And as far as the funding constraints for the sector are concerned, the government spoke about enhancing the partial credit guarantee scheme for NBFCs, which again may not suffice for the ailing realty sector.”What could have helped here is additional rebates, waiving off several charges on the way to secure a housing loan and further of tax benefits for home buyers. For instance, a hike in the Rs 2 lakh tax rebate on housing loan interest rates under Section 24 of the Income Tax Act, says Anuj Puri, chairperson of Anarock Property Consultants. And this could have kick-started healthier demand for housing.While nothing in specific was laid out for the real-estate sector to benefit directly, experts are joining the dots to see how the cost allocation in alternative segments could boost the industry.For the retail space, one of the largest and most diverse segments, there was nothing in the Budget to boost consumption. And analysts are concerned about the segment’s impact on the sector. “There are neither any benefits that could have indirectly benefitted developers of retail assets, says Shubhranshu Pani, managing director for retail services and stressed assets, management group, at realty research company JLL India.“We have to wait and see the impact of the personal tax initiatives on consumption and how much of the savings by taxpayers will translate into demand and consumption in the retail sector, but it is unlikely to be much,” he adds.Points overlookedThe Budget subsequently lacked proper allocation of costs for real-estate and instead, much emphasis was laid on targets for the annual rate of inflation and other fiscal policies, says Niranjan Hiranandani, president of the National Real Estate Development Council (NAREDCO). “The labour intensive sector which had pegged its hopes on additional liquidity infusion, tax reforms and rental housing was overlooked in the Budget.”On the other hand, Puri points out that the abolition of dividend distribution tax (DDT) for corporates is a bold move by the government and will help businesses diversify or expand and make India an attractive destination for investors, thereby boosting foreign investment. This will eventually pave way for many firms to grow and, in turn, generate demand for office spaces benefiting the commercial real estate.But he also feels that the Budget could have addressed critical issues. “There were no announcements on implementation of land reforms. The 15% tax rate for companies looking to set up new factories can be applied only if they can acquire land easily. Further, bringing greater transparency to India’s outdated land records system would help attract more foreign investors and speed up the approval procedures for real-estate projects,” says Puri.Rays of hopeRather than giving direct benefits to residential real-estate as a whole, the finance minister laid more focus on alternative segments within real estate such as warehousing, data centres, schools and hospitality market with 100% tax exemptions on sovereign wealth funds towards infrastructure investments. “This will help infuse much-needed funding into the sector,” says Chintan Patel, partner, deal advisory and national head, building construction and real estate, at KPMG India.Also, the co-living space, even though it is in its nascent stage, was ignored. However, several educational initiatives are being viewed closely toPatel also states that the Study in India programme, through which students from Asian and African countries would receive scholarships to study in the Indian higher education institutes, is likely to boost the co-living segment by generating demand for student housing.Additionally, the focus on urban development by proposal of five additional smart cities will automatically provide a thrust to the sector, adds Anurag Mathur, CEO, Savills India, a realty research consultancy. Along with this, plans for developing strategic national highways have also been announced, which can help bring about developmental changes in the realty space as well.The Budget’s focus on infrastructure upgrade of Chennai-Bengaluru and Delhi-Mumbai Expressway, estimated to be completed by 2023, seems to be a step in the right direction. “This will open up new markets for builders. Proposal of the development of 100 new airports to be built by 2024 under the Udan scheme help too,” says Ashok Mohanani, developer and vice-president, NAREDCO Maharashtra. Read the full article

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A Brief Insight About Real Estate

What is Real Estate?

In Real Estate, “Real” stands for physical and “estate” goes for Residential or commercial property. Real estate can be defined as “property consisting of land and building on it, along with its natural resources such as crops, water; immovable property of this nature, an interest vested in this also a real estate property, building and housing in general. More generally the profession of buying, selling and renting lands, buildings, or housing. 

Residential real estate - Residential real estate includes newly constructed homes and resale homes. The residential real estate includes a variety of housing among which single-family home is the most common one. Some of the other constructions include condominiums, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, co-ops and vacation homes.

Commercial real estate - Commercial real estate build spaces for shopping centres and malls, medical and educational buildings, hotels and offices. Residential apartments are also considered a commercial because they are owned to produce income.

Industrial real estate - Warehouse, Industrial buildings, storage and research houses are produced under industrial real estate. Buildings that distribute goods are considered as commercial real estate. Classifications are important because zoning, construction and sales are handled by different sectors.

Land real estate - Working farms, vacant lands and ranches. Undeveloped lands and lands for reuse also comes under land real estate.

What is a Condo?

Condo’s are apartments with unshared walls generally, which means whatever come under the particular apartment is rightfully owned by the owner of the property.

Growth of real estate sector in India.

The growth of this sector is well integrated by the growth of corporate industries and the demand for the working space as well as urban and semi-urban accommodations. The real estate industry ranks 3rd among the 14 major sectors in term of direct, indirect and induced effects in all sector of the economy. The real estate industry is expected to reach a market size of 1 trillion US$ by 2030 from 120 billion US$ in 2017 and will contribute 13% of the country’s GDP by 2025. Construction for office spaces in Indian cities has increased by 26% year-on-year to 36.4 million sq.ft. Bengaluru is expected to be the most favoured property investment destination for NRI’s, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun. Private equity and venture capital investment in the sector has reached 1.47 billion US$ between Jan-Mar 2019. Investments for institutions is expected to reach 5.5 billion US$ in 2018, the highest in the decade. According to data released by (DIIP) Department of Industrial Policy and Promotion, the real estate sector in India has received over 25.04 billion US$ in the period of April 2000-March 2019.

 Major investment and development sector in India and their advantages.

India’s top Investment destinations.

Gujarat - A leading industrial state, enjoys faster GDP growth than India as a whole. Geologically located on the west coast of India, provides a gateway to land-locked states in north India. The state is also home to many of India’s best-known corporation like Reliance, Mahindra and Mahindra, Adani Group, Aditya Birla Group and Godrej. The state has wetlands in the south to deserts in the northwest, Gujarat offers a variety through its geography, the state potentials as a tourist spots boosts the value of its land. The state has a literacy rate of 79.31%, so setting up a business here is at minimum risk as you get the skilled and literate workforce. This is the main reason why major business houses have their offices in Gujarat. Data shows that the project implementation for the projects is high in Gujarat. The rising industrial activity in the state has turned the state into an employment hub. More and more people are flocking to find employment here, triggering fresh demand for real estate in Gujarat.

Advantages

Trade routes to the African continent and the Persian Gulf.

Almost 25% of India’s sea cargo passes through the state.

Gateway to northern India.

Ranked Top consistently in ease of doing a business survey.

Gujarat is a mineral-rich state incapacity, reserves and production.

Strong agriculture, automobile, and pharmaceutical industries are settled in Gujarat.

2. Maharashtra - Maharashtra is among the wealthiest and the most industrialized state in India. The state owes its success to its film industry, international trade, services, technology, aerospace, petroleum, fashion and apparel. Mumbai is the state capital as well as the financial capital of India. Serves to global banks and institutions, including the Reserve Bank of India - country’s federal bank, two largest stock exchanges (BSE and NSE) Bombay Stock Exchange and National Stock Exchange and head offices to Life and General Insurance companies, booming day-to-day construction sector in many parts of the state.

The real estate sector is continuously developing in the major commercial construction and for residential development, hospitality and  Government of India has enacted the Real Estate (Regulation and Development) Act in 2016 which came into force with effect on May 2017. Under this Act, the Government of Maharashtra established MahaRERA. for regulation and promotion of the real estate sector in the state. Maharashtra has equipped strength in the sectors like IT, telecom, petroleum and allied products, chemicals, engineering, automobiles and auto components, electrical and non-electrical machinery, and textiles. For this commercial real estate sector was in the boom in the state.

Advantages 

Geographically located on the western coast of India.

Gateway for imports into western India.

Houses the financial capital of India – Mumbai.

Provides a conducive business environment and can be used as a launching pad to the rest of the country.

Houses leading corporations and a key source and destination for FDI.

Competitive banking, financial, and service industries.

Home to one of the largest entertainment industries in the world.

3- Karnataka - Bangalore, being the IT hub of the country, receives much faster economic growth than most other cities making it a better place to live in. In a populated city with engineers and other professionals moving in to settle down here, buying apartments is the best way to go. Owning a property in a endure growing city like Bangalore can never be a bad idea. Being home to the booming IT industry of India, it is worthy to invest in property in or around the city. The real estate provides security as the prices in similar cities continue to rise with financial growth and CARG.

Advantages

Investor-friendly government has simplified procedures and transparent administration.

Good connectivity to major national and international markets.

Excellent telecommunication system with optical fibre connectivity throughout the state.

Home to public sector enterprises in heavy industry, aeronautics, precision engineering, telecommunications, health and pharmacy, and software development.

A leading producer of auto components, machine tools, and heavy electrical machinery.

Globally competitive in IT services and business process outsourcing (BPO).

4. Chennai - In Chennai, the properties are less expensive than Bangalore and Mumbai. As we are talking about a metropolitan city, with a constant flow of developing infrastructure day by day into the city, the demand increases as the time goes. Real estate is always a great investment option for investors in the city, with a rapidly growing appreciation value of properties, developing areas are always on the rise. Besides, the implementation of RERA and GST reforms is contributing to a transparent and fraudulent free industry though Chennai is taking place in one of the real estate developing hubs in India.

Advantages

A rapidly growing infrastructure in the city.

Homes typically increase in value, build equity and provide a nest egg for the future.

Your costs are predictable and more stable than renting because they're ideally based on a fixed-rate mortgage.

 What is the real estate industry booming factor?

India’s workforce expansion, economic transition and urbanisation as well as migration from different parts of India will boost investment opportunities in the next coming years leading to growth in housing, office, retail and warehouse space says property consultant CREDAI and CBRE reports. According to reports, the real estate sector would expand tremendously by 2030. The report estimated for office space stock will touch one billion sq ft by 2030, with flexible workspace accounting for 8-10 per cent of the total stock. The retail shopping centre stock is estimated to cross 120 million sq ft by 2030, while warehousing stock could touch 500 million sq ft by then. 

By 2030, residential real estate has the potential to almost double from the current stock of 1.5 million units in key cities, the report said. "As the Indian economy transitions and its workforce expands, it will offer vast development and investment opportunities for the real estate sector," CREDAI-CBRE report said. The growth of cities is going to further influence the country's built environment, while technology, demographics and environmental issues will become the new value drivers.

What is a Property Tax?

Every property is an asset which is taxable and the amount which is paid by the owner of the property to the government annually is known as the property tax. The tax can be paid to the state government or the Municipal Corporation, depending on the government policies. The word “property” in this context refers to all tangible real estate under the ownership of an individual which includes houses, commercial spaces and rented spaces to a third party. 

The concept of property tax is been found around for centuries and is accepted across the globe, with proper records of farmers and workers paying tax on their properties even in the middle ages.

The given below is the formula used by the Municipal Corporation of India to calculate the property tax of an individual. 

Property tax = base value × built-up area × Age factor × type of building × category of use × floor factor.

Different civic corporations use different methods to calculate tax, but the general overview of such calculations remains the same.

Property tax in India depends on the location of the property, with taxes varying from state to state.

The first assessment is carried by finding the occupancy status whether it is self-occupied or rented out, type of property (residential or commercial), amenities provided (car parking, rainwater harvesting, store, etc.), year of construction (single floored or kutcha structure etc), and the carpet area of the property.

After getting the necessary details the civic agencies use the formula to calculate the tax.

The property tax can also be calculated online. Just visit the municipal corporation website and have a search for Property Tax Calculator.

How to find the real home value?

Start with online valuation tools

The information provided by you will be used along with the information gleaned from public records to get the estimated value of the property. It is a simple and convenient way to get a crystal clear idea of what your home might be worth.

Work with a realtor.

      -      Realtors use their own techniques for determining the value and it can be helpful to get a second opinion. The process used by realtors is known as Comparative  Market Analysis (CMA).

      -     Working on with CMA, realtors usually look for the recently sold homes that are similar in size, location, no of bedrooms, location and in design.

      -      Broker Price Opinion (BPO) is another tool to determine your home value. 

      -      BPOs are often used more than CMA for short sale or foreclosure situation rather than regular home sales. BPOs costs money.

      -      Keeping in mind that CMA or a BPO still miss the mark because of the untaken feature that affects the property value.

 Hiring a professional appraiser

The job of the appraiser is to provide an impartial, thoroughly researched estimate of a home’s value. They get the details by visiting the property and reviewing the recently sold or pending sales comps.

If you are planning to hire an appraiser, do note down what report will be provided by the results of the appraiser.

On a point, the appraiser uses a checklist named “Fannie Mae’s Uniform Residential Appraisal Report”, this checklist is verified by the appraiser to check whether the conditions are met or not.

An appraiser should look for the following details

 Location of the home.

Whether the home is in the FEMA flood zone.

Condition of the utility service and fixture on the property.

Details of when the home was built.

On what type of foundation it was built.

Conditions of the attic and basement, heating and air system, walls, windows and doors.

Looking out for amenities.

Any additional repairs and improvements are needed.

Condition of appliances in the home.

Finding out any sign of damage that would compromise the structural soundness of the home.

Analyzing your own comps.

we can also compare our house using some factors to a similar one selling in our area.

Structural components and features.

Size and age of your property.

Sales history if any

Any improvement or construction.

Overall condition of the home.

Neighbourhood and location

Listing price vs Actual sale price.

Impact of GST on the Real Estate sector.

Indian economy is established by many industries working to make the economy strong and real estate industry is one of it. In present real estate industry contributes 6-8% of GDP and it is assumed that it will grow up to 13% by 2030. 

 At the recent GST council meeting held on 24th of February 2019, new GST rates have been introduced for residential real estate that will be applicable from 1st of April 2019. During the pre-GST era of taxation, multiple taxes were applicable such as VAT, stamp duty, registration charges and services charges that varied among different states with different charges. GST has played a significant role in simplifying the rates of taxation in the real estate sector that ranges from 5% - 18% depending upon some key factor.

New rates were applicable for GST in the Real Estate Sector.

  Types of Real estate property.                                         Rates after GST 

Residential Property (affordable housing segment)

8% with Input Tax Credit (ITC)

1% without ITC

Residential Property (non-affordable housing segment)

12% with ITC

5% without ITC

Commercial Properties

12% with ITC

12% with ITC (unchanged)

After the GST implementation on real estate in 2017, the industry was in assuming a dropping posture. However, in early 2018, there was an increase in demand and supply for real estate.

The growth was increased in affordable mid-income housing. The rates for the sales property witnessed an increase while in larger cities such as Delhi has a 2% decline in property sales, not because of GST but of oversupply of the housing sector. As on a note 2019 promises to be a better year for Indian Real Estate as the demand for both commercial and residential properties is expected to get a boost.

[dholerasmart1]

Dholera Smart City’s Top 10 Things you’ve Never Heard about-Dholera SIR

June 25th, 2015 has marked a transition in the history of India; it is on this date that Prime Minister Mr. Narendra Modi announced the massive urbanization mission consisting of three gigantic projects – Housing for All, 100 Smart cities and AMRUT.

India which is rapidly moving towards a huge population as well as urbanization explosion was in desperate need for a master plan that shall be able to handle the paramount growth as well as the effects that shall follow. A rising population subsequently results in more pressure on the existing cities and challenges in accommodating the citizens thus degrading the quality of life. It also calls for higher employment opportunities that lead to the need for rapid industrialization. Government converted this challenge to an opportunity and launched like Dholera Smart City projects that shall bring in a positive impact on the economy and its residents.

Along with other changes, it shall bring in large infrastructural changes in India and has opened up a whole new world of potential for the real estate houses. They may now get involved in the government-led projects and create a fortune for themselves while building a robust infrastructure for India.

Michael S Burke, chairman, and chief executive, AECOM is looking forward to using these programs along with “clean Ganga” and “Make in India” initiatives as a space to expand its base in India from a headcount of 2,500 employees to 4,000 employees in a span of five years.

AECOM is a prestigious engineering, design and infrastructural firm with its presence in 150 countries and annual global revenues to the tune of USD 20 billion. It is currently involved in the development of the Dholera SIR project in Gujarat and is also working towards planning and development of the smart city in Gurgaon for which it has done the design and feasibility study. Apart from this it is also making the first green port city in India by creating the “Seabird Naval base” in Karwar.

AECOM has extensive experience in sizable infrastructure projects including designing of sewerage master plan for Delhi 2030, new Chandigarh master plan and designing and building 40 LEED-certified building across 5,000 kilometers of highway. Having worked a great deal in India, Burke commented that though the potential of infrastructural growth in India is colossal, the procurement process in India is quite challenging, given the stress on the lowest bidder and India shall have to work aggressively towards closing the gaps prevailing within the system.

With the combined budget allocation of 3 lakh crores over the next five years, let us take a look at the projects undertaken by the government on an individual basis:-

1.       Housing for all by 2022–If we are looking at providing the roof on every head by the year 2022, we are talking about a mighty number – 90 million home it is. Of this we are already facing a current deficit of 19 million homes. Of the 90 million homes, 40 percent requirement lies in urban India; thanks to the rapid urbanization rate. Government has taken several initiatives to make this a living possibility. The steps include changes in policies and reforms, offering relaxation in funding and financing both for buyers and builders, lowering down the gestation period of projects while increasing the term of loans available at the same time, cutting down and easing of approval mechanisms and creating a better coordination between authorities.

 2.       AMRUT (Atal Mission for Rejuvenation and Urban Transformation ) shall effect 500 Tier 2 and Tier 3 cities with Uttar Pradesh given a chance to nominate the highest number of cities (64) followed by Maharashtra (37), Tamil Nadu (33), Gujarat and Andhra Pradesh (31 each) and Rajasthan (30). It has launched with the vision to enable all households with access to tap water and sewerage connection, a reduction in air pollution through transition in public transport mechanism and increase the amenity value of cities by developing greenery and well maintained open spaces. A 50% contribution to cost under this scheme shall be made for cities having a population under 10 lakh people and 30% contribution for cities having population above 10 lakhs.

 3.       100 smart cities – A dream of sustainable India with citizens having higher quality of life, smart city project has been sanctioned 48,000 crores over the next five years by the central government. All states have been given the chance to nominate cities that should be converted to smart cities while seven cities across the DMIC corridor have already been identified for planning and development. A herculean project which shall not only prove to be a solution to the rapid increase in urbanization but also help in creating better living conditions with healthier environment and state of art facility for all Indians.

 A lot is being anticipated from these projects and we hope that it brings along the much desired transition for the residents, industries and economy of India.

 Sources:-

http://trak.in/tags/business/2015/06/25/100-smart-cities-500-amrut-housing-all-projects-launch/

http://www.business-standard.com/article/companies/huge-potential-for-smart-cities-in-india-says-aecom-chief-115031300027_1.html

[ourbalajisymphony-blog]

How can the new government expedite the real estate sector’s recovery?

With the General Elections of 2019 giving a clear mandate for Narendra Modi to return as prime minister for a second term, the real estate sector is optimistic, as this would mean a continuation in policies. The government took several major policy decisions in the last three to four years and industry players and the middle-class buyers, are now expecting the benefits of these decisions to start showing. “Over the past few years, the government has introduced reforms, such as demonetisation, the Real Estate (Regulation and Development) Act (RERA), the Goods and Services Tax (GST), changes to the Benami Properties Act and bankruptcy laws, all of which have changed the paradigm of real estate. The government also created affordable housing as a segment. The past couple of years can be best described as a period of ‘short-term pain for long-term gain’. We should now see the positives impacting the real estate sector,” says Niranjan Hiranandani, president, National Real Estate Development Council (NAREDCO).

Impact of a stable government on reforms, infrastructure and buyer confidence

Shantilal Kataria, vice-president of CREDAI India, points out that stability is very important in any business and particularly in the property market. It is crucial for developers and buyers, for taking fast decisions. “The new government is serious about prioritising infrastructure projects. Hence, the Navi Mumbai airport and metro projects in Maharashtra, are likely to benefit, along with all other projects in India,” he feels. Anup Kumar, director, industrial practice, Frost & Sullivan, adds: “A stable government will be in a position to implement reforms faster.”

Property buyers can also have confidence, knowing that there is a stable government working to protect their interests with such reforms. In spite of the hardships faced by the real estate sector, the reform agenda has been welcomed by all stakeholders. Hardik Agrawal, CEO of Radha Madhav Developers, maintains that “Due to the reforms, the consumers’ confidence has increased in the market.” As a result, growth potential is high, for developers, end-users and investors, he says.

Decisive verdicts are signs of stability and add to business confidence, concurs Ankur Jain, CEO of Group Satellite. “Now, the remaining uncertainty factor in Maharashtra, is the state elections. The real estate sector had to deal with a lot of uncertainty in the recent past, like the changing DCPR 2034, liquidity issues due to the IL&FS crisis and changes in GST rules. With FSI increase in the DCPR 2034, we expect a lot of supply to hit the market in the next 12-24 months, which is already dealing with oversupply. In terms of property prices, it will be a buyer’s market for the next 12-24 months,” he asserts.

Real estate industry’s expectations from the new government

Streamlining of the approvals process

The real estate fraternity’s first demand from the new government, is to create a conducive environment for ease of doing business.

Rajiv Parikh, president, CREDAI Maharashtra, elaborates: “The issues regarding environmental clearance, town planning, non-agricultural permissions and mutation entries, should be dealt with. It has been our long-standing demand to make sanctions for projects available online, to speed up the process, as this is a key area which inflates property prices.”

Focus on technology and infrastructure

The government’s past reforms have had a major bearing on the affordable housing segment. Navin Makhija, managing director of the Wadhwa Group, says that “Another boost to these projects can be through infrastructure development. As a result of faster completion of these projects, the residential realty segment in and around the city of Mumbai, stands to benefit.”

Encouragement should be given to the introduction of new technology, for speedy, economic and hassle-free construction.

Nimish Gupta, FRICS – MD, south Asia, RICS, suggests that “We need to create an inclusive and conducive business environment, where international firms can lend their expertise and resources. We should also consider establishing a Construction Regulatory Authority (CRA), to create a fair and level playing field for construction activity to flourish. The regulatory mechanisms should boost cash flows in the sector, which can be facilitated through the ‘Digital India’ mandate, by technology and other platforms that are available.”

Relaxation in taxation

Parikh adds that the new government should look into reforms of tax structures. “The realtors engaged in fulfilling the ambitious ‘Housing for All’ scheme through affordable housing, should get more incentives,” he says. Gaurav Gupta, director of Omkar Realtors wants the new government to take a relook at the current GST structure for SRA and redevelopment in Mumbai. “This accounts for close to 55%-60% of all development work being carried out, with the balance development accruing from open plots and mill land. It is a case of ‘double taxation’, compared to the sale of vacant land, which is subjected to a single taxation slab with GST exemption,” he explains.

Housing for all

Other players want the government to improve micro-finance for the lower and middle income groups. Subodh Runwal, director of the Runwal Group, hopes that the government will make housing affordable in all the major metros, by reducing taxes, premiums and GST levy and also infuse liquidity into the banks and NBFCs dealing with the real estate sector. Atul Goel, managing director, Goel Ganga Developers Pvt Ltd, wants the government to address the availability of funds. “If positive measures are implemented by 2020, we can expect a boom in the market,” he concludes.

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Source:https://housing.com/news/how-can-the-new-government-expedite-the-real-estate-sectors-recovery/

[perspectivethought-blog]

Slums: The one thing that killed Mumbai's real estate which nobody will ever admit

I have always been curious why homebuyers and real estate developers in Mumbai are reluctant to name the one stakeholder in the real-estate chain that singlehandedly escalated prices. You might think I am referring to the government? No. It is actually slums that are the culprit for killing the real estate market in Mumbai.

Up to 35,67,12,299 square feet – that’s the extent of encroachment by slums in Mumbai, according to the Slum Rehabilitation Authority’s (SRA) slum cluster list of 2015. This translates into almost 8,189 acres of land across 2,400 clusters. For a city that has habitable land of around 34,000 acres, this means almost a quarter of the land in India’s financial capital has been encroached by slums.

In value terms, at an average rate of Rs 40 crore an acre, it translates to Rs 3.27 lakh crore — or roughly 12.5 percent of the GDP of Mumbai —being usurped.

There is a plan in the works

The reason for citing these numbers is on account of a plan in the works by the new Maharashtra government to offer 500 square feet houses for free to slum dwellers. In all likelihood, this plan will get watered down but policy thoughts like these at regular intervals are a striking reminder of what has completely ruined the real estate market in Mumbai. Free land scarcity and its consequences for the actual homebuyer over the last three decades.

While the encroachment of 24 percent of Mumbai’s habitable land may be illegal – a misplaced sense of empathy, as well as political rent-seeking, has ensured that the actual owners (Trusts, Railways, AAI, BMC, private owners etc) are forced to compensate and rehabilitate the unauthorised tenants. This may appear as being compassionate to slum dwellers but is outright penalizing of other stakeholders in this real estate chain.

In a report presented to the University of Texas at Austin, Rohit Jagdale notes presciently the rise in subsidy provided to slum dwellers. From a direct subsidy of only 10 percent in 1985, it rose sharply to provide free housing to residents of slums along with a corpus to handle future maintenance expenditure by 1995. Even free housing had new sweeteners since then. The size of apartments rose from around 150 square feet to 225 square feet to the current level of 322 square feet.

Stacked against homebuyers

This is what typically happens in an SRA project. Developers build free homes for slum dwellers on part of the land that had been encroached upon and build towers on the remainder that are on sale. Simply put, a homebuyer in the new tower is expected to subsidise the free housing for the slum dweller.

Given this bonanza, one would have expected that slums would be lining up for getting redeveloped. Except it is half-baked announcements from governments that raise expectations frequently, dubious developers and financial unviability that have ensured that schemes remain largely on paper.

Note that only around 2 lakh replacement homes have sprouted over two decades despite the approval of 1,481 projects by the SRA. Nothing exemplifies this phenomenon better than the almost 600-acre slum – Dharavi. Planned almost two decades ago, residents were initially promised 225 square feet homes in 2004.

This was recently raised to 350 square feet thereby escalating the cost of the redevelopment project. Today the slum stands almost as it did two decades ago even as the centre of economic activity shifts away from it.

Slum-dwellers do take a big responsibility for the failure of the rehabilitation scheme. Aided with the support of local mafia, forgery and deceit are common with regards to the list of beneficiaries escalating project cost.

Several of the slum dwellers who do get free apartments opt to rent the apartment and create another slum. The moral hazard has attained such lengths that migrants who earlier preferred to stay in a home in distant locations and travel long distances for work abandoned those plans and opted to stay in a slum close-by in the hope of it getting redeveloped.

And they are getting a free flat. This has suppressed demand for new homes in distant locations of Mumbai while inflating the price of slums in the city.

There are a few shining examples as well. One of the best examples of a brilliant SRA project is the Shapoorji Palloonji building 'The Imperial' housed at Tardeo.

The developer provided 225 square feet tenements to the slum societies as per the norms and built two luxury towers for sale which today command prices of anywhere between Rs 15 crore and Rs 25 crore and houses the elite.

Now market forces have come into play, however. Expensive land parcels that became open for development have boosted the supply of homes at elevated prices, which are simply not seeing demand. That has eliminated the investor audience for real estate in Mumbai.

Accrued supply continues to be on the rise from projects that were conceived years ago. No wonder major developers realise the futility in embarking on these SRA projects. The cost of land acquisition (free homes + interim rent and other benefits.

I am not even going into the hassle involved in driving consensus among tenants) is no longer lucrative – especially when demand is stagnant and new supply is unable to be absorbed. Every rigged and unfair system in a market economy has to correct itself. As I noted in another column, most new 1BHK apartments are being constructed at a size of lesser than 300 square feet.

Effectively, homebuyers are getting smaller homes at high prices while slum dwellers are getting bigger homes for free. This game is on its final legs.

The real estate market has had a good run in Mumbai but it has to self correct dramatically to have any chance of survival.

The first step has to be the reform of the slum rehabilitation program that makes it prohibitively expensive for an actual homebuyer. Otherwise, this slump in Mumbai real estate will end badly – for developers, slum dwellers and the genuine homebuyer.

https://www.cnbctv18.com/real-estate/the-one-thing-that-killed-mumbais-real-estate-slums-property-prices-flats-invest-4994231.htm

[thaparindia-blog]

Active property search on the internet defies slum in property market

Despite the crazy turnover of events in 2017 for real estate industry and multiple policy reforms affecting it, it was still a year when people didn’t stop their search for properties on various available portals.

As per Magic Bricks, one of the most sought property portal, 15 lakh people actively searched for relevant properties to be bought. This clearly indicates that real estate continued to be on top priority in the last year. Of all the searches registered, users from Maharashtra made it to the hit list. Properties across seven localities in the state were most searched for. Speaking about most searched properties on rent, New Delhi scored the first position. Home owners owning ready to move luxury flats in vaishali gained substantially and faced no dearth in demand rewarding them with significant rental incomes. Ready to move flats in kaushambifared equally in terms of rent and so did many other popular areas of Delhi. Buying meter shot up for Hyderabad and Navi Mumbai as well where rented apartments attracted a heavy price.

The probability of good rental income also created a spur in demand for emerging areas of Delhi NCR. Ready to move luxury flats in vaishali in iconic apartments “The Arthah” from Thapar Group attracted investors from all over the region. Another popular builder, ATS, also saw a rise in demand last year amidst the impact of demonetization and GST. Ready to move flats in Kaushambi also enjoyed reasonable demand and so did properties in neighbouring areas of Vasundhra and East Delhi. For more information on these properties, contact @9810203537.

Though demonetization and GST played as negative factors to the growth in demand for the sector, Real Estate Regulatory Authority (RERA) tried to balance the act. The authority led to a hike in investor confidence who longed for some kind of regulation in an otherwise unregulated market. Fair play induced on account of cracking of black money in the sector further gave a thrust to genuine buyers.

Going forward in 2018, we expect to see an upsurge in real estate demand. Budget 2018 has also been supportive towards this end and an extension of coverage under the PMAY scheme is expected to create more opportunities for builders and investors likewise.  Here on, we are positive about a rapid upward trend in real estate which will silence the past debates on a slum in it.

[mrashish7878-blog]

Professionalism and Transparency can make a Brand Excel

“The keys to brand success are self-definition, transparency, authenticity, and accountability”,these lines by Simon Mainwaring express the importance of transparency exquisitely. Transparency helps in building the trust of the customer in any business. Especially, when it comes to real estate, it becomes necessary for the developer to maintain professionalism and pellucidity as it is the matter of people’s dreams and aspirations.

In the real estate sector, the accomplishment of the commitments works as the benchmark for the future projects. Both, established and the upcoming developer would never overlook the transparency factor. The primary aspect the buyer focuses on, apart from budget, amenities, and location, is the transparency and history of the developer that helps him in the decision-making process. Post RERA implementation, India has made improvements and hence shifted one spot up in the global real estate transparency index, from 36 in 2016 to 35 in 2018.

RERA Act was implemented in May 2017 to increase answerability and transparency into the real estate sector. Though, apart from a few states such as Karnataka, Haryana, and Maharashtra, various states are still adopting this implementation slowly. In the last two years, the nation has advanced in the form of enhanced market fundamentals, policy reforms and increased volume of global capital being stationed into the country. India has announced extensive guidelines, ranging from implicating brokers to be registered, to mechanisms to look after the disputes with developers. Get Affordable homes by Best Builder Delhi NCR know more by clicking on it.

In sync with the new technologies, the real estate industry is also progressing. To demonstrate real-time activities and progress a few tools like visual tours, CCTV cameras, video walkthrough and rendered images of the building are being used. This way it results in a long-lasting affiliation between the buyer and the developer, as the customer not only pay for the product but a package of services. Sharing all the information with the client, the brand builds a bond of trust, and this also creates a professional image of the brand in the market.

Both professionalism and transparency are the pillars of the real estate sector, delivering possession on time is the most crucial step for a brand to create its goodwill in the market. This way, the brand or builder with the proficient image will be on to the top of the potential buyer’s list. It is this proficiency and the endeavor to offer the best to its customers, that is helping the developers like ATS Infrastructures to create its name in the market.

HomeKraft, one of the subsidiaries of ATS working in the budget-friendly homes segment, carries the same philosophy that guides its parent organization. And as every honest effort gets rewarded sooner or later, Happy Trails, the housing project by HomeKraft in Greater Noida becomes one of the best selling and most-preferred projects in the Delhi NCR region.

Mint, the financial daily by the HT Media group in its feature story, mentioned about the HomeKraft Happy Trails and how it has surpassed others and become one of the most sought-after budget-friendly homes projects.

Brands always talk about customer delight. However, in the run to become market leaders, they fail to practice the basics, i.e., maintaining professionalism and transparency in their business and day-to-day operations. ATS and HomeKraft by ATS clearly show how, by just maintaining the basics, a brand can achieve success.

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Elevators Market Size, Industry Growth, Trends and Analysis Research Report

Elevators Market Size, Industry Growth, Trend, Growth, Demand, Type, Manufacturer, Service, Share, Outlook, Overview, Regional Analysis and Forecast till 2022

Global Elevators Market   - Overview

Elevators have become very critical across all applications such as residential, commercial, and industrial. The market is expected to continue with the moderate growth trend during the forecast period. There have been few factors driving the market such as Rapid Urbanization, changing construction industry, and adoption of green building concept.

Huge investments in infrastructural projects in Asia Pacific countries countries have spurred the demand for elevators for commercial and residential purpose. The region has given a tough competition to well established European and U.S. markets when it comes to the manufacturing base and price points. There is seen changing dynamics in construction industry in the region such as interest by foreign investors and increase in FDI in construction in countries such as Indonesia and India. This augments the demand for such elevators in the region.

Key Players Analysis :-

Kone Corporation, Thyssenkrupp AG, Dover, Fujitec, Hyundai, Mitsubishi, Sigma, Schindler, Armor, and Omega Elevators are some of the prominent players at the forefront of competition in the global elevators market and are profiled in MRFR Analysis.

The construction sector in Brazil has witnessed a good growth with the development in Brazilian economy. Infrastructure projects in the region have been growing steadily. Consequently, there is a high demand for elevators, which is attracting big market players to enter the region for business expansion.

The governments across all regions are seen promoting and developing their construction sector. The emerging nations are particularly bringing various reform and regulations to boost their infrastructure growth and real-estate market. Such growth is expected to augment the market growth of elevators industry. For instance, the government of India announced several major policy initiatives such as the passage of the Real Estate (Regulation and Development) Act 2016, the amendment to the Benami Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration norms for construction companies, and many others to boost the construction industry in the country.

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Study Objectives of Elevators Market:-

To provide detailed analysis of the market structure along with forecast for the next 5 years of various segments and sub-segments of the Global Elevators Market

To provide insights about factors affecting the market growth

To analyze the Global Elevators Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.

To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)

To provide country level analysis of the market with respect to the current market size and future prospective

To provide country level analysis of the market for segment by types and applications

To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Elevators Market

Global Elevators Market   - Regional Analysis

The Asia-Pacific region dominated the global elevators market in 2016. It is also expected to be the fastest growing region for the elevators. Rising urbanized population, increase in industrialization, and growth in construction activities along with increasing investment are the factors driving the growth of the market in Asia-Pacific region. The construction spending in China standouts followed by India, Indonesia and Vietnam. All sectors are likely to witness significant growth, largely led by non-residential construction. Additionally, China not only exhibits significant levels of growth but is also the largest market in the world. Construction spending in China is shifting from the coastal cities to the interior and western provinces that will lead to the higher use of construction machinery. India, on the other hand, is seeking increase in private funding solutions in the provision of much of the new infrastructure needed. In Southeast Asia relatively strong construction spending growth is also expected in Indonesia and Vietnam, as both countries upgrade infrastructure to support their growing populations.  

Global Elevators Market   - Segments

Global Elevators Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Types: Comprises – Passenger elevator, Good elevators, Capsule elevators, Automobile elevators, stretcher elevators, Hydraulic elevators

Segmentation By Application:  Comprises – Residential and Commercial

Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World

Complete report on Elevators Market report spread across 112 pages, profiling 10 companies and supported with tables and figures available @ https://www.marketresearchfuture.com/reports/elevators-market-1546

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Roofing Materials Market: Industry Share, Growth, Developments, Emerging Trends, Top Manufacturers, Global and Regional Analysis, Forecast by 2023

Global Roofing Materials Market – Overview

The Global Roofing Materials Market is growing with the rapid pace; mainly due to the development of energy efficient cool roofs, increasing use of eco-friendly materials in roofing, and increasing demand of new generation single ply technology in commercial roofing market.

According to a recent study report published by the Market Research Future, The global market of Roofing Materials is booming and expected to gain prominence over the forecast period. The global Roofing Materials market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, 3% CAGR during the estimated period (2016 - 2023).

Currently, the roofing materials market is spurting mainly due to the growing construction sector across the globe. Moreover, increasing FDI in construction in emerging nations and supportive government regulations and policies also fuel the growth of the market. Governments across all regions are seen promoting and developing their construction & infrastructure sector. The emerging nations are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market. In China the central policies on housing were relaxed, the lowest down payment ratio decreased in 2016. Cheaper down payments encouraged more homebuyers to borrow money from banks. This in turn pushed the construction industry, which ultimately led to the increased demand for Roofing Materials. However, lack of awareness among the consumers is the factor that may hinder the market growth of the market.

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Roofing Materials Global Market – Competitive Analysis

Global Roofing Materials Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, roofing materials manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of roofing materials for every application.

Industry News

Beacon Roofing Supply, Inc., the largest publicly traded distributor of roofing and complementary building products in the United States and Canada, announced the successful completion of its previously announced acquisition of Allied Building Products Corp. from global diversified building products group CRH plc.

Visaka Industries Limited has forayed into innovative roofing solution where the solar panel fused with roof panel generates electricity.

St. Louis-based Korte Co. is building a USD 2 million, 23,000-square-foot expansion at the Carlisle Construction Materials plant in Greenville. The plant upgrade will enable the Greenville facility, to produce a line of PVC roofing material in addition to the ethylene propylene diene monomer (EPDM) product currently manufactured there.

Roofing Materials Market – Segmentation

Global Roofing Materials Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.

Segmentation:

On the basis of Product, global Roofing Materials market is segmented into Tile Roof, Metal Roof, Plastic Roof, Others. Tile Roof dominates the product segment of the market mainly due to use of clay tiles for residential construction owing to environmental as well as a visual advantage which they provide. Metal roofs is expected to be the fastest growing product segment mainly due to high service life and are extremely durable.

Based on application, global roofing materials market is segmented into Residential, and Non-residential. Residential sector dominated the application segment of the market. Increasing housing sector in countries such as the US, India, and China, drive the demand for the roofing materials.

Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.

Global Roofing Materials Market – Regional Analysis

The Asia-Pacific region dominates the global roofing materials market and is expected to grow at a highest CAGR during the forecast period. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. Additionally, growing re-roofing activities also have the positive influence on the growth of the market.

North America is the second largest market for the roofing materials. Increasing demand for residential housing and increased government support in the form of rebate and other tax benefits to the construction companies driving the growth of the market in the region. Moreover, the presence of key manufacturers and their ability to offer a wide product range to customers is expected to play a crucial role to support the industry growth.

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Kay Players

GAF Materials Corporation (U.S.), Atlas Roofing Corporation (U.S.), CertainTeed Corporation (U.S.), Owens Corning Corp.(U.S.), Braas Monier Building Group S.A. (Europe), Etex (Belgium), Fletcher Building Limited (New Zealand), TAMKO Building Products, Inc. (U.S.), Icopal Holding Aps (Denmark), North American Roofing (U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Roofing Materials Market.

Table of Content

1 Executive Summary

2 Research Methodology

2.1 Scope Of The Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market Size Estimation

2.4 Forecast Model

3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter's Five Forces Analysis

4 Global Roofing Materials Market, By Product

4.1 Tile Roof

4.2 Metal Roof

4.3 Plastic Roof

4.4 Others

5 Global Roofing Materials Market, By Application

5.1 Introduction

5.2 Residential

5.3 Non-Residential

…………

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