Track2Realty: High profitability is driving growth of new main streets, says Cushman & Wakefield’s report, ‘New Retail Frontiers: Emerging Main Streets in India. The report analyses the potential of new locations, which are emerging as retail hotspots in the seven major cities of Mumbai, Delhi-NCR, Bengaluru, Chennai, Kolkata, Pune and Hyderabad.
Track2Realty: The multinational companies are increasingly investing through purchasing offices in India with INR 2,470 crores worth office transactions in the last 2 years. There is a seismic shift in the traditional approach of leasing space that such companies have had for years while considering overseas investment. MNCs in the BFSI, ITeS, FMCG & Pharmaceutical sectors are among the lead commercial office buyers in these markets. These are the findings of a report by Cushman & Wakefield.
Track2Realty: Ever since the new government’s announcement of its intent to build a hundred smart cities in India, the nation has been abuzz with definitions of, fund allocations for, and city identification of such development. With good reason too, since the implementation of such ambitions would ultimately result in national wealth creation—to help our cities become sustainable and livable urban centers of growth.
Track2Realty: The overall mall vacancy levels across the top eight India cities remained stagnant at 14.47% in Q2 2014, which was recorded around 0.4 percentage points lower compared to Q1 2014. Amongst the top eight cities, Pune witnessed sharpest decline of 2.5 percentage points due to healthy leasing activity and no new mall supply. These are the findings of Cushman & Wakefield latest report.
Track2Realty: The reduced apartment sizes in new launches in 2014 have contributed to making prices more affordable. In the over 50,000 mid segment units (1 and 2 BHKs) of newly launched houses across top eight cities in Quarter 1 of 2014, most cities have seen a reduction in sizes of approximately 100 sf. This has led to an average drop of 6 percent in cost of the apartments within these cities, says a report by Cushman & Wakefield.
Track2Realty Exclusive: Once known for cotton cultivation, Annur is fast changing its outlook as cotton cultivation has taken a back seat in the last over a decade due to high cultivation cost and uneconomical operation arising out of poor marketing infrastructure. The region nevertheless holds tremendous potential to emerge as one of the key real estate hotspots in time to come.
Track2Realty: An increase in the number of enquiries for residential properties has been seen across the major cities. However, transaction volumes have not improved much. Restricted sales transactions were observed in major cities like Mumbai, Delhi, Gurgaon and NOIDA during 1Q 2014, as per a report by Colliers International.
Track2Realty: Total inflows in the real estate sector for the first quarter of 2014 were recorded at INR 2,800 crores (USD 460 million), witnessing an increase of 28% compared to the previous quarter and nearly 2.5 times the investment in Q1 2013, says Cushman & Wakefield’s report on private equity (PE) investments in real estate.
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: There has been a 43% increase in Q1 2014 new residential unit launches from the previous quarter. The total estimated unit launches were recorded at 55,500 units across major eight cities of India with Bengaluru recording the largest number of units launched, an increase of 22% from previous quarter, says a report by Cushman & Wakefield.