Year 2018 was a veritable roller-coaster ride for the Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.
A year back at the end of 2016, the doom mongers were out in force. In our office sector there were those who were predicting a slump in demand, uncertainty around the new Government in the US, the scare stories around automation and AI, the performance of the top 5 Indian ITeS companies, exaggerations around layoffs and even the dramas of corporate Boards of great Indian technology companies.
Coimbatore has today all the pre-requisite fundamentals of a lifestyle city that is high on the wish list of the corporate sector and the young professionals. The best part is that this development has happened in the last few years when the market conditions otherwise have been bearish; something that suggests the wave of change is here to stay.
NH 47 is currently undergoing conversion from two lane to four lane, with some sections being converted to six lane. The stretch between Coimbatore and Trivandrum via Kochi is one of the busiest among the Indian highways, with most of the traffic in this stretch comprising of trucks carrying consumer goods, construction material, container lorries and passenger vehicles. A large number of industries and textile parks are located on the highway between Coimbatore, Erode and Tiruppur districts. This highway is often referred as the lifeline for the industries in the region.
Today, the world sees India as a land of opportunity for business and investment. RBI head Raghuram Rajan said in mid-September that while fellow BRICs have deep problems, India appears to be an island of relative calm in an ocean of turmoil.
Track2Realty Exclusive: The property markets of the financial capital Mumbai and the political capital Delhi has always been exposed to the reality that it is the expat Indians, the working class professionals, who are the key demand drivers of property. However, in the last over a decade or so this outlook on the migrant work force has become a pan-India phenomenon.
Track2Realty Exclusive: Prayag Damodar returned to the home town Ahmedabad after having spent 14 long years in the Gulf region where the only option of living has been high rises and skyscrapers. He had developed the liking for such vertical living so much that he had a feeling of missing that sky high living back home as the prevailing housing culture has been standalone residential units when he left the city.
Track2Realty Exclusive: In 2010 when Le Meridien Coimbatore, a Rs. 300 crore project of Appu Hotels, announced to open a nine-storeyed hotel with a total built-up area of seven lakh sq ft, spread across a 6.75 acre plot, there were not many takers. The critics either termed it as an over ambitious project or a venture that was ahead of time.
Track2Realty Exclusive: It may sound like a paradox but the rental market of Gujarat city is showing bias in two directions when it comes to the property acquisition on rent. While the housing market is showing rental bias in the negative direction, the same property index is going northwards in the commercial vertical of property.
Track2Realty Exclusive: Critics who had till very recently criticised the projection of Noida as a corporate city on the grounds that the city lacks commercial activity and an international airport may soon have reasons enough to eat their own words. Scaling up from just being an affordable destination the seemingly poor cousin of Delhi-NCR is today giving its superior peer markets a tough competition in its march to emerge as a landmark corporate hub.