In Pune, on the contrary, IT/ITeS may be one of the high demand zones for education, yet it is not that only IT/ITeS driven educational institutions are flourishing. As a matter of fact, and industry players agree to it, education sector has grown in the city in all the segments, be it IT/ITeS or any other professional/vocational education.
Where is the growth corridor of Noida that could lead this market as another case study in attracting that kind of investment? The answer to this is not easy, not because of lack of a growth corridor but due to the problem of plenty. While the Atta Market of sector 18 continues to be its main Central Business District (CBD) even today, the emerging growth corridors are even better positioned to put Noida high on the radar of investors.
A closer look at some of the leading property markets of the country, like Mumbai, Pune, Chennai, Hyderabad and Bangalore, clearly suggest that the market is poised for an upswing in the next few years. More importantly, it is not just the analysts but also the home-buyers who are today; ready to bet high on the long term growth story of the property market in these leading cities.
There are very few case studies where the developers have flocked out to cities on sheer promise without registering their presence in the four metro cities. However, such migration to magnet territory is today quite visible in Gujarat where the developers from other states are increasingly flocking, most notably in the city of Ahmedabad.
Mostly as of now only the developers of integrated townships have got into the healthcare investment. The dilemma of whether or not to have healthcare facility in the project also comes with whether the developer should himself get into the operational side of running it or it should be outsourced post the investment.
Mumbai, as a matter of fact, demands rental housing to be promoted as the feasibility of such an option provides a broad choice of homes to both the investors as well as the expat professionals. The recent economic turmoil also underscored the many advantages of renting and raised the barriers to home ownership, sparking a surge in demand that has buoyed rental markets across the MMR.
Mumbai has been the undisputed financial capital of India. The emergence of other business destinations, like Bangalore, Gurgaon or Pune could not take the sheen out of the city, even in the wake of infrastructure deficit and other urban problems plaguing the peninsular city. Now the Mumbai city is poised to elevate itself to the next level of business destination. The MMRDA (Mumbai Metropolitan Regional Development Authority) plans to make Mumbai a major global financial hub.
There is a general apprehension that because of large-scale discretionary concessions given by the planning authority to almost each and every project, it may eventually compromise with the essential requirements once the new DP relaxes the norms. They suggest the DP must ensure that the BMC (Brihan Mumbai Municipal Corporation) should not grant approvals to projects which are devoid of recreational areas, open spaces and fire safety.
There has been less of compact housing on offer and hence one wonders whether there are few takers for 1BHK in the city or there are certain other fundamentals of execution that come in the way of creating compact housing units.
Contrary to the general perception that only the Richie Rich can buy a house in Mumbai, the fact of the matter is that there is something for every budget segment. If not the fancy luxe living in posh areas, a roof over the head is always there with the rider of more money adding to more amenities and lesser travelling distances.