It has been strangely characteristic for the real estate and construction industry in India to remain unregulated and unrecognized, even though it is one of the largest employers and contributors to national growth.
The Union Budget 2012-13 has left the Indian real estate sector grope with the indecision yet again and everyone is wondering whether the Finance Minister’s offer is glass half full or half empty for them.
Netscribes, a knowledge consulting solutions company, announces the launch of its report Facilities Management Services Market in India 2012.
Recently an acquaintance – a fund manager by profession – relocated to India to set-up a domestic PE fund here. He had invested in a Mumbai residential property strategically located close to the primary business district and an international school for his kid.
In an effort to enhance professionalism in the industry, RICS has launched its Red Book of Valuation Standards and Global real estate agency and brokerage standards at the recently concluded real estate conference in Mumbai.
Mumbai-based Silvex Realty Limited with services in construction, real estate and infrastructure has forayed into the hospitality industry.
Nirvana Consultants have launched a specialized portal for the benefit of the candidates as well as companies in Real Estate.
Ashiana Housing strengthening its Facility Management arm, has launched resale and rental services for Ashianaites.
The Confederation of Real Estate Developers’ Association of India (CREDAI) has forecasted Kochi to emerge as the next realty hot spot in the wake of the commissioning of the International Container Transshipment Terminal (ICTT ) at Vallarpadam. CREDAI believes the prices of land and buildings are all set to skyrocket as it will generate more direct and indirect employment opportunities.
GCCs have become an important catalyst for change in the Indian office sector. With 1.3 mn talent as of 2019, the sector saw a 30–35% share of total office leasing in India in 2017-2019 period with over ~1250 operational GCCs. Between 2020-2022 period, GCCs accounted for 38–43% of the total leasing, housing over 1580 operating GCCs with a talent pool of 1.66 mn as of 2022. We anticipate that during 2023-2025 period, the GCCs will account for a significant 35–40% of the total office leasing. Moreover, India has been a leader in the growth of GCCs, expected to host over 1,900 GCCs by 2025 with a professional talent pool that exceeds 2 mn.