The project will have 28 floors, with 324 apartments spread over 16 acres, and is likely to be announced in the next one or two months
Costs on the outskirts soar 50-100% through past year
At Rs 10-25 crore each, with star design and promotion, the segment is supposed to be recession-proof.
According to experts tracking the realty sector, sites such as Magicbricks.com, 99acres.com and makaan.com are fast-becoming the choice of consumers looking for renting a property, as such sites let them directly connect with the owner and save time and money.
The tie-up with IBM for Wave City, to be spread over 4,500 acres, is meant to provide information on traffic management through SMS alerts and billing usage.
With the recent Budget announcements, the sales in the affordable segment are expected to increase.
A day after the Budget, the industry estimates the sale of affordable homes could increase up to 20 per cent this year due to an additional exemption granted to first-time buyers.
Major companies DLF and Unitech have posted an increase in their net profit after a gap of almost two years.
Policy could end land acquisition and green nod problems, and encourage foreign investors.
While the thrust will be on pan-India residential projects, office and retail launches, too, will add up to make for the realtor's project mix of 12 to 16 million sq ft during the coming year.
Hit by slackening demand amid economic slowdown and high interest rates, the real estate sector has asked for infrastructure status for the housing sector in the Budget for 2013-14, which would help it avail of tax benefits and easier flow of credit.
The industry describes projects priced beyond Rs 5 crore (Rs 50 million) in Delhi and the National Capital Region region as luxury, but the benchmark is Rs 10 crore (Rs 100 million) for Mumbai.
The initial draft of the approach paper to the 12th Plan had set a target of 9-9.5 per cent growth, depending on the global economic scenario.
The launch of the 19-floor luxury apartment project in Gurgaon's Sector 86 is the first big project from DLF this financial year.
Real estate players say they are in talks with companies to build their customised stores in India.
Rangarajan says there was no need to change the inflation comfort level from four-five per cent.
Deloitte's global index, 2013, for 38 nations, ranked India the fourth most competitive manufacturing nation.
As other sectors are not doing well, the industry can help to boost numbers.
Rajinder has been a key behind-the-scenes figure at Wave Inc, while Ponty was the face of the group.
After lower proceeds from 2G spectrum auctioning, economists question if government can meet the fiscal deficit target.
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