Mumbai's rapid urbanization to boost real estate industry

MUMBAI: Mumbai Rapid urbanization and demographic changes, especially within emerging markets, will lead to substantial growth in the real estate investment industry over the next six years, according to Real Estate 2020: Building the future, a new report from PwC. At the same time as the industry's opportunities grow, so too will assets invested into the sector, it said.

The report predicts that the global stock of investable real estate will rise by more than 55% to around $45.3 trillion by 2020, from a 2012 total of $29.0 trillion and will expand again by a similar proportion by 2030. The expansion will be greatest in emerging economies, where economic development will lead to better tenant quality and, in some countries, clearer property rights and will play out across housing, commercial real estate and infrastructure. To read more please visit - timesofindia.com

Indians most active buyers of Dubai property

Dubai: Indians have topped the list of Dubai's most active real estate buyers as they view the city in the same league as London, according to a survey.

The relative geographic proximity to India and the large non-resident Indian population in the region are two further critical drivers for those looking to park their Rupees in Dubai's real estate market, according to real estate consultancy Cluttons.

"Unsurprisingly, Indian nationals topped the list of the city's most active buyers, with Dubai often viewed in the same league as London by this group," Faisal Durrani, Associate residential and international research at Cluttons, said. To read more please visit - zeenews.com

EDMC sets target of Rs 200 crore house tax

The East Delhi Municipal Corporation has set a target of Rs 200 crore for the House Tax earnings for the civic body this financial year and has asked the department to come hard on defaulters, officials said today.

"Given the record recovery last year, the East Delhi Municipal Corporation this year has set a target of Rs 200 crore in the House Tax segment," chairman of EDMC's Standing Committee Sanjay Surjan said today.

Referring to a list of defaulters, the chairman asked officials to take all possible measures to recover taxes.
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Sales volume in real estate sector in Chennai declines: Study

Chennai: Sales volume in the real estate sector in the city during the last one year witnessed a 33 percent decline owing to the impact of global slowdown due to high inflation and negative buyer sentiments, research firm Knight Frank said today.

"Chennai garnered an absorption of 3.5 million square feet. It is a drop of 15 percent from the previous year. City witnessed a drop in sales volume to the tune of 33 percent in 2013," Knight Frank said in a statement.
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Housing price growth moderates in first quarter: RBI

ew Delhi: Average housing price inched up by a meagre 0.89 percent during first quarter of current fiscal, although property rates were nearly 14 percent higher from year-ago levels, an RBI report said.

"The quarter-on-quarter growth in the Reserve Bank house price index at the all-India level was lower at 0.89 per cent in Q1 of 2013-14 as compared to 2.46 percent in the previous quarter," RBI said in Macroeconomic and Monetary Developments Second Quarter Review 2013-14.
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