Track2Realty Exclusive: Property markets across the country have shoot up in capital and rental values in tandem with the infrastructure development. Infrastructure development and better connectivity are two key elements behind property prices going up. Navi Mumbai, however, presents a different picture with arguably the best infrastructure development and connectivity in Mumbai.
Track2Realty Exclusive: The Tamil Nadu Government must be commended for its focus on infrastructure development; it is a key determinant of the state’s economic progress. So long as the commitment to infrastructure remains, the prognosis for real estate will be good.
Track2Realty Exclusive: In the expanding boundaries of the National Capital Region (NCR) where Gurgaon has been the biggest beneficiary, it has been quite natural that locations like Manesar, Bhiwadi among other adjoining regions start attracting investment. However, what has actually bucked the trend of such an otherwise organic growth is the fact that these locations once seen as the alternative locations of Gurgaon for those who could not afford it in the main suburb are no more just secondary locations.
Track2Realty Exclusive: While the infrastructure of Pune has been comparably better than many urban centres across the country, there is no denying the fact that the kind of urbanisation and migration that is happening in the city the load on the infrastructure is increasingly getting heavy. Moreover, since most of the infrastructure has been created by the private developers in the city of late; hence there has been uneven growth of infrastructure across the city.
Track2Realty Exclusive: Mumbai real estate has historically been the red hot property, something worth aspiration of millions. The island city with less supply and more demand with ever increasing migration only meant that even if the market deviated from the conventional wisdom of economics in demand & supply dynamics, it still would be a sellers’ market.
Track2Realty: Transactions in India’s real estate space might have slowed down over the last two quarters, but the sector has not been overwhelmed by the state of the wider economy. Despite the subdued pre-election economic scenario, in fact, the period observed an increase in private equity activity.
Track2Realty: The total fresh mall supply by the end of 2014 is projected to be approximately 14 million square feet (msf) approx. in the top eight cities of India, of which 13.6 msf is still under construction, says a report by Cushman & Wakefield. This is nearly 200% more than the supply received in 2013 which was recorded at almost 4.6 msf. Of the total expected mall supply for the year of 2014 approximately 60% or 8.2 msf of fresh mall supply is expected to be received by National Capital Region (NCR) followed by Bengaluru at 2.86 msf.
Track2Realty Exclusive: Real estate market in India is growing fast because of the increasing demand for planned development, relatively less congestion and pollution, better hygiene and sanitation etc. that is giving way to new opportunities to grow. Investors are not restricted to one category and buyers looking to buy commercial as well as residential properties are angling towards the smaller cities such as Vizag, Pune, Nasik, Ahmadabad etc.
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 Exclusive: While most of the metro cities are crumbling under the burden of increasing urbanisation and the load on the land and infrastructure has led the life miserable there are cities like Pune which seem to be learning from the mistakes of these metro cities and the late movers’ advantage seem to be helping the city grow holistically in terms of its real estate developments and infrastructure issues. What makes the case of Pune even more unique, reasons why it is rated as the best city out of the four established metros is the fact that the social infrastructure has gradually been shaping up well in the city to compliment the physical infrastructure.