Realty bites

New launches dipped in Mumbai in Q1 

The real estate project launches in Mumbai dropped by 24 per cent in the first quarter of 2017, a recent survey said. Launches dropped by 24 per cent at 4,900 units against 6,500 a year ago, a study conducted by the property consultancy firm Colliers International found.

 The trend may continue for a short term as developers are adjusting to the new Real Estate Regulation and Development Act (RERA) rules, it said. “The developers have been selling projects and units based on the marketing plan and layouts, and super built-up areas often represent a loading on the nature of amenities a project offers. Since the FSI norms and rules have been differed from sale plan and chargeable areas of projects, it is posing a challenge for developers,” Colliers International Executive Director, Office Services and Investment Sales, Ravi Ahuja said.

Project launched in Kasauli

Expanding its footprint in Himachal Pradesh with its new project Elementa at Kasauli the tTricity-based developer group Sushma Buildtech Pvt Ltd., commenced the construction at the site recently. Spread across 6 acres, the project offers choice of 1, 2 & 3 BHK apartments. Prices range between Rs 31.90, 44.90 and 66.90 lakh for 1, 2 and 3 BHK, units respectively. Speaking on the occasion Prateek Mittal, Executive Director, Sushma Buildtech  said, "As non-Himachalis can also buy in this project this is an ideal project for customers in search of a premium, low-maintenance home in one of the Himachal's greenest communities. The 20,000 Sq ft of a modern club with world-class amenities, stellar service and stunning views entice residents to relax and unwind. Being hassle-free and naturally temperature controlled, each residence co-exists harmoniously with the green surroundings of the forest. ; Hence commanding a premium due for its location." The uniquely designed architecture where the base of each tower is above the top of the other will ensure ample sunlight for each apartment. 

Hyderabad tops realty investment 

destination list in APAC 

Six Indian cities, including Hyderabad, national capital and Mumbai are among top 10 investment destinations in the realty sector in the Asia Pacific region, owing to growth prospects in commercial office activity, says property consultant Cushman & Wakefield. 

While Hyderabad emerged as the number one destination in the region, Bengaluru and Mumbai were ranked sixth and seventh respectively. “Betting on Asia Pacific’s Next Core Cities’. Pune, Chennai and New Delhi were at eighth, ninth and tenth positions.

Most of the global investments for this year will be made in commercial office assets as markets in Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune are well placed to outperform other cities. Cushman & Wakefield Senior Director, Research Services, Siddhart Goel said, “The country is firmly on track to becoming an economic powerhouse with strengthening GDP, better business environment and investor-friendly policies by the central government.”