Track2Realty Exclusive: With a vision to make India a housing surplus nation from being the housing shortage country, CREDAI has been campaigning to make the business environment congenial for growth. But the realty bill, in its current form and shape, stifles the honest developer and scares away new entrepreneurs from entering the sector.
Track2Realty Exclusive: If you ever thought religious sentiments only affect the home buyers in affordable category, then probably you have neither been exposed to the India’s costliest property market trends in South Mumbai, nor have you monitored the transactions in this region during Akshay Tirtiya.
Track2Realty: During 1Q 2014, commercial leasing in eight major cities recorded at around 8 MN SF including 1.7 million sq ft pre commitment from large corporates for future expansion. Cities like Bangalore, Delhi, Gurgaon and Kolkata witnessed increase absorption on qoq basis. Bangalore and NCR topped the chart contributing 75% in the total absorption. Bengaluru witnessed the highest absorption to the tune of 3.8 million sq ft followed by 2.3 million sq ft in NCR. IT/ITeS topped the charts and remained the primary demand driver IT/ITeS followed by Engineering and BFSI sectors.
Track2Realty Exclusive: Elections are part of a vibrant democracy. And like everyone else who is part of this democratic system, the developer community also pins hope on the upcoming elections. We are, in fact, watching all development with bated breath. We will keenly follow the five Assembly elections to be followed by the general elections of 2014 without any bias and in a totally unattached manner with no political affiliations whatsoever.
Track2Realty Exclusive: A stable property market that has done reasonably well in 2013, why should the developers in down town south be bothered about the General Elections ahead, asks a property analyst. Well, the answer can not be in straight yes or no but the market trends indicate Coimbatore definitely will be less susceptible to the elections than many other property markets across the country.
Track2Realty: Office space demand slowed down in the first quarter of 2014, with around 6.3 million sq. ft. of office space getting absorbed across the leading cities of the country as against 6.6 million sq. ft. in Q1 2013—a drop of approximately 5%. Transaction activity was dominated by the National Capital Region (NCR), Bangalore and Chennai—representing about 70% of the total space transacted during the quarter.
Track2Realty: Prime office space absorption in the Delhi National Capital…
Track2Realty Exclusive: The Coimbatore real estate has by and large outperformed the rest of the country. This better-than-national average performance during the year 2013 has been remarkable at a time when some of the matured property markets were witness to sales plummeting with stress both at the buyers’ as well as developers’ level.
Track2Realty: There are still significant investment opportunities left in India’s real estate market. For investors looking at cost-effective projects to park their funds, this might be a right time as weak market sentiments are likely to lead to weak valuations, providing windows for investing in quality projects.
Track2Realty: Sentiment in the Indian occupier and investment real estate markets has been hit on account of deteriorating levels of growth in the economy, continuous fall in the rupee value, high retail inflation and subsequent rise in key policy rates, according to the RICS India Commercial Property Survey Q3 2013.