City Lights: Housing sales dip by 42% in NCR, 34% in Mumbai
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Housing sales dip by 42% in NCR, 34% in Mumbai
Housing sales fell by 42 per cent in the NCR during the first eight months of calendar 2012 and developers are looking at offloading their housing stocks in the festival season, according to realty research firm PropEquity. Mumbai Metropolitan Region and Bangalore markets, too, witnessed drop in absorption of housing units at 34 per cent and three per cent, respectively, during the period compared with the year-ago period. The real estate data analytics and research firm, attributed the fall in absorption in these markets to lack of demand from investors in the uncertain economic situation.
Hong Kong's Causeway Bay priciest retail area
New York's Fifth Avenue ends its 11-year run as the world's most expensive retail area, dethroned by Hong Kong's Causeway Bay, according to a survey by real estate services company Cushman & Wakefield. The average retail real estate rent in the Causeway Bay shopping area surged 34.9 per cent from a year earlier to an annual $2,630 per square foot.
Eldeco launches project in Noida
Real estate developer Eldeco has launched 'Eldeco Aamantran' in Sector 119, Noida. The development spanning 8.5 acres offer 449 apartments ranging between 1,095 sq ft to 3,000 sq ft and come in 2,3 and 4BHK configurations. Prices vary from Rs 48.85 lakh to R1.75 crore. Possession for some towers has commenced, while the entire project would be handed over by March 2013.
Supertech launches luxury project in Noida
Realty firm Supertech has launched a luxury villa project 'Supertech Ritz Chateaux' in Sector 74, Noida. The development would feature limited edition villas offering premium appointments in two sizes 367 sq yards and 660 sq yards. Prices start at R12 crore.
Homestead launches luxury project
Homestead, the London-based real estate player, has announced a luxury housing project in Gurgaon in association with tennis icon Maria Sharapova. Earlier the company had announced the launch of the Micheal Schumacher World Tower project, also in Gurgaon.