Jones Original
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Jones Original
Jones Original
Renovation to keep pool dry at Jones YMCA
The pool at the Pat Jones YMCA is dry, but it has nothing to do with frozen pipes. For the next six months, the center's aquatic facilities will be closed for renovation.
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Many prospective investors are apprehensive as to whether Gurgaon properties are at stagnation or not. As most of them are in a dilemma because of the dearth of reliable information, a good sect of the individual investors in Gurgaon property has resorted to a decision not to venture out. The Gurgaon real estate sector has been for some time in stagnation chiefly due to the fall out of the global economic meltdown. This global economic fiasco has had its sway in the Indian economy, though the sweep was not devastating. As the economy was quick to bounce back, the doldrums created by the economic downturn has almost waned out. There is a positive new wave in the national economy which has in effect given impetus to the property sector in the national capital region. Arguably, the Gurgaon real estate sector has acquired a new momentum.
As averred by many, Gurgaon properties are not in stagnation. In deed, there is a new fillip in the property sector in then Gurgaon region. One of the chief reasons for the new change is the recent Government announcement which lays down many beneficial schemes for the property sector. Some of the new governmental initiatives are:
(1) 100 % foreign direct investment (FDI) allowed in realty projects through the automatic route;
(2) in case of integrated townships, the minimum area to be developed has been brought down to 25 acres from 100 acres;
(3) full repatriation of original investment after three years;
(4) minimum capital investment for wholly-owned subsidiaries and joint ventures stands at US$ 10 million and US$ 5 million, respectively;
(5) Urban Land (Ceiling and Regulation) Act, 1976 (ULCRA) repealed by increasingly larger number of states;
(6) 51% FDI allowed in single-brand retail outlets and 100 per cent in cash-and-carry through the automatic route. In fact, these developmental initiatives were announced at national level, but they have directly influenced the property sector in Gurgaon. As a natural corollary and consequence to these aspects, the real estate sector in Gurgaon has acquired a new growth phase.
There is another reason why I say Gurgaon properties are not in stagnation. Indian real estate industry is in a transitional phase. In this transition, new macro-economic and sector-specific factors are catalyzing new market equations. Besides, in the new growth forecast for Indian economy, economic and investment experts aver that in the coming years, Indian property market will be in for a boom. For instance, in the opinion of international real estate consultants Jones Lang LaSalle: "economic recovery during CY 2010-11 is likely to reinvigorate the interest of foreign investors in India's real estate market. We expect enhanced capital inflow in the real estate sector in the medium-to-long-term".
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