The idea of creating a new city as a counter magnet to Mumbai was originally envisaged in the Regional Plan of Mumbai Metropolitan Region (MMR) in 1965. The actual planning process of this new city began in 1971 after the formation of CIDCO, a Government-owned company for development of cities.
Many home buyers as well as investors have been speculating about the movement of residential property prices in Mumbai. These fence-sitters are watching the market’s movements keenly. Their guess is that prices could go down further in the next few months – which in turn has increased their hopes of landing a better deal for their money and delaying their purchase.
Following a particularly strong fourth quarter of 2014, the first quarter of 2015 reported comparatively slow activity on the office market front across leading cities. This apparent demand drop was largely because most corporate space occupiers were still strategizing their real estate plans for the year during the period, with fewer transaction decisions being implemented in the first quarter.
Track2Realty Exclusive: The time of transition for the Indian real estate and construction sector has finally arrived. Since last few years, a number of regulations pertaining to the real estate market were put on hold. A number of them are now at the draft stage waiting for Parliament’s approvals.
Track2Realty: Smart Cities: The New Age Concept: The smart cities concept may not be a novel one, but in the Indian context it is definitely an idea whose relevance couldn’t have been better timed. The government has provided the thrust towards development of such cities, and needs to be now backed by a holistic concept.
Track2Realty: Bangalore has consistently remained the preferred destination for corporate real estate occupiers in the country over the last couple of years. More recently though, our IT City outperformed itself by catapulting into the league of the top performing office markets of the Asia Pacific region during 2014—in the company of Tokyo and Shanghai.
Track2Realty: India’s logistics and warehousing real estate segment attracted steady demand during the second half of 2014—according to the latest CBRE report, India Industrial and Logistics Market View – H2 2014. Occupiers from the automotive, Fast Moving Consumer Goods (FMCG), engineering and manufacturing, and Third Party Logistics (3PLs) sectors were the principle demand drivers for warehousing space in the second half of the year.
Track2Realty Exclusive: Sales model in commercial office spaces that was only recently seen as an indicator of distress on part of the developers has, of late, turned out to be a smart business model by the MNCs. These multinational companies seem to have confidence in the Indian growth story and with long term plan they are investing into the purchase of these properties. Track2Realty Focus 2015 finds that it is not a distress sale of developers since the capital values and rental yields have both appreciated sharply in the last three years despite of impending slowdown. The shift of these commercial spaces beyond the IT/ITeS is the most significant trend.
Track2Realty Exclusive: In the last few years a perception has gained ground within the built environment of Indian real estate that the environmental concerns are at loggerheads with the development. The collective consciousness seems to have believed that the real estate and infrastructure projects often compromise with the environmental concerns and to make a balance between the inevitable urbanisation and avoiding the natural erosion is not that easy.
Track2Realty: As e-commerce attains new heights and presents a number of opportunities for the real estate sector in general—and the warehousing segment in particular—CBRE recommends strategies for landlords and e-retailers for attaining a win-win scenario.