The transaction is part of the process of overall commercial development of 22 million square feet of the airport in phases over a period of ten years, GVK said in a press release, adding that the transaction has been finalised at the rate of approximately Rs 106 crore per acre which translates to total of Rs 580 crore for this parcel at approximately Rs 5,000 per square foot of built-up area.<br />
Firstpost talks to Rural Development Minister Jairam Ramesh on the logic and reasoning behind the Land Acquisition Bill
Developers in the segment, say, part of the reason for the skewed demand supply of such housing is because of bad policies favouring only the bigger players.
Foreign investors are being cautious about the Indian real estate market because it fails to meet the global standards.
The fact that realtyhas seen $3.2 bn of PE exits in the last four years makes it clear that developers and investors have been playing the Indian realty market, behaving more like hot money stalwarts than the long-term FDI investors, as the government touted them to be.