Real estate prices in the metropolis, one of the most expensive realty markets in the country, are expected to remain stable in the near future, a top industry official said today.
While the real estate market in India is far from satisfactory, a section of real estate developers are exploring opportunities in neighboring nations including Sri Lanka and Bangladesh as the governments, seeking to boost economic growth, are providing incentives to develop infrastructure.
Unsold, vacant, no takers…these words aptly sum up the story for real estate developers into malls in India. Even though retailers are spreading their wings once again after the slowdown, the absorption of malls remains sluggish, leading to high vacancies.
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.
Demand for commercial office space across the seven major cities in India is estimated at around 160 mn sq ft by 2014, a latest study by real-estate services firm Cushman and Wakefield Research (CWR) said.
The Gujarat Government is determined to back its new jantri rates – or government assessment of the value of properties which have come into effect from April 1. There rates have been increased from 2.5 to eight times across the state.
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Hotel Leela is all set to foray into real estate development in order to cut its debt. The conversion of land banks into upmarket residential homes in Bangalore, Hyderabad and Pune is believed to raise Rs.950 crore for the company.
Dubai’s real estate market is likely to bottom out in the next one year, while peer Abu Dhabi will at least a much longer time, according to Jones Lang LaSalle (JLL) experts.
Finally, India’s biggest commercial land deal was done in Noida on Friday. So far Noida has not declared officially the name of the bid winner but sources said that the bid for commercial plot worth Rs 6,500 crore has been made.