Naturally, the IT industry is not comfortable with seeing the STPI scheme go. It was slated for expiry in 2009, but the industry managed to wangle two extensions for it. The Government has provided an alternative in the form of Special Economic Zones.
The cost of doing business per square feet has always been challenging in the top 10 cities of India. The ever increasing migration for jobs in these cities have made the housing affordability even bigger challenge. Critics are not cynical when they question as to what extent and till when these cities will continue to be filled up like a soda bottle. Aren’t our metro cities on the verge of a population blast? Come 2021 and Track2Realty analysis believes the infamous Coronavirus in a strange way has shown the way forward.
While the COVID-19 has by and large dented the confidence level of the real estate developers, Aditya Kushwaha, CEO & Director of Axis Ecorp believes there are silver lining for the players who are forward looking in their approach. In an exclusive interview with Track2Realty, Kushwaha asserts that the Work From Home trend would shift the focus from top metro cities to open spaces in and around the tourist destinations. He therefore urges the government to look at the Holiday Home segment as a priority sector.
By: Sameer Gholve, Manager – Capital Markets, Jones Lang LaSalle…
Residential property buyer sentiments in Hyderabad have improved considerably over the last three quarters. There has been a gradual but certain increase in residential demand and absorption. That said, the market is still a long way from touching the 2007- 2008 levels.
The implementation of the revised DTC will have strong implications on SEZs. The industry requires clarity on the issues that may emerge, and how businesses would be promoted in Special Economic Zones.
With benefits under STPI scheme gone and deadline to fully avail SEZ benefits set for March 2014, demand for SEZ space is expected to witness some momentum in 2012.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Demand continued to be robust in Bangalore with corporates expanding and leasing large spaces.
Ascendas India Development Trust (AIDT), the India-focused real estate fund floated by Singapore-based office space developer, is looking to raise close to $350 million.