Track2Realty: Approximately 8 million sq. ft. of office space was leased across eight major cities during the quarter. Bengaluru, Chennai and Pune topped the chart in the total office market absorption.
Track2Realty: Many developers are trying their best to create new zones and addresses across India that can appeal to HNI property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele.
Track2Realty: The expanding retail footprint of global brands in India has been a major growth driver of retail real estate in the country. In an effort to map and analyze the spread of international retailers, CBRE undertook a research study of more than 300 prominent global retailers—Expanding Horizons of Global Retailers in India—to identify operating trends, expansion strategies, and extent of penetration across leading cities.
Track2Realty Exclusive: Critics who had till very recently criticised the projection of Noida as a corporate city on the grounds that the city lacks commercial activity and an international airport may soon have reasons enough to eat their own words. Scaling up from just being an affordable destination the seemingly poor cousin of Delhi-NCR is today giving its superior peer markets a tough competition in its march to emerge as a landmark corporate hub.
Track2Realty Exclusive: IT driven locations across the country has been witness to the migration of large educated workforce, be it Bangalore, Gurgaon or Pune. This upwardly mobile, well-earning and lifestyle driven class hence becomes a key demand driver of property in the given city. In Pune the expat Indians have thus emerged as the key demand driver of property.
Track2Realty: Asian economies compete for greater global influence in terms of business, politics and sociocultural activity. Within economies, cities are the real growth engines. According to The Economic Intelligence Unit’s Hot Spots 2025 (2013) and AT Kearney’s 2014 Global Cities Index and Emerging Cities Outlook (2014), leading Indian cities have done well in terms of growing business activity and enhancing human capital.
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: Tata Housing strengthened its presence in the high-end luxury segment in NCR by launching its 4th project Arabella. Located immediately off the Sohna Haryana Highway, Arabella is inspired by the Aravallis and has been aesthetically designed as an extension to the lush green surroundings.
Track2Realty Exclusive: Coming out of the shadow of Gurgaon-Manesar the once sleepy town in Bhiwadi is fast shedding the tag of affordable destination. What was initially conceptualised as an affordable residential market for those who could not afford high property prices in Gurgaon and for the industries that could settle in a moderately priced market has shaped up so very well that Bhiwadi today has emerged as a case study in how even the extension of a satellite town should be positioned.
Track2Realty Exclusive: If SMEs presence is any indication of the scope of commercial property in the given region, Delhi-NCR’s east coast can easily claim to be a vibrant market for the commercial property. However, the tag of an affordable zone has till very recently been the reason why big ticket commercial investment did not fell into Ghaziabad, stretch of NH 24 or even Noida to a large extent.