Track2Realty: Buyers remained cautious but searched well for aspirational homes. Developers remained restrained but projects reached completion stages as all segments of the market prepared for a growth phase in Indian property market, aligned to the political optimism in India.
Track2Realty Exclusive: The real estate market has often been defined in terms of being either the buyers’ market or the sellers’ market. In most of the major markets across the country the bull phase of the economy led to the sellers’ market with demand outstripping the supply.
Track2Realty: Internationally, a building that reaches or exceeds the height of 150 metres is considered a skyscraper. Until recently, Mumbai was the only Indian city with high-rise buildings. The financial capital continues to see the highest demand for skyscrapers, as the only option to grow there is vertically. It now seems that in the coming decade, Maximum City will receive an even more cohesive skyline, with a host of projects in the race to touch the sky being constructed. The demand for high-rise buildings is certainly growing, and other cities are catching up.
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: “To give the much needed fillip to Real estate and infrastructure sector in India, ‘Renegotiation’ clause should be inculcated while awarding the Public Private Partnership (PPP) Projects to industry. This would help remove the major impediment to PPP projects, i.e the huge gap in the government’s mind set on one hand and the aggressive and ambitious strategies of the private sector on the other”,
Track2Realty: Following the slow market conditions of the last couple of quarters, Mumbai’s office market saw a slight spurt in market sentiments in the second quarter of 2014. The city’s overall real estate market is anticipated to fare better in the third quarter over the second quarter of the year.
Track2Realty Exclusive: If ever you have not missed a flight out of Mumbai or got delayed to an appointment of lifetime in Mumbai due to traffic bottlenecks, you would probably not understand why India’s commercial capital has been waiting so eagerly for the metro train to roll out. But wait! There is more to just ease of traffic with the metro train in Mumbai becoming a reality.
Track2Realty: Describing Union Finance Minister’s Arun Jaitley’s maiden budget as “half glass full” and half filled with hopes, realtors’ apex body CREDAI Chairman Lalit Kumar Jain said it met with some expectations and left some out.
Track2Realty: For the first time in recent history, the government in power had announced tourism as one of its four pillars for growth. Consequently, the hospitality was looking forward to significant new provisions in Budget 2014.
Track2Realty Exclusive: The financial capital of India, Mumbai has always been reflective of the business confidence of the country. It is a market that shows the way forward for the investors in general and India Inc in particular, be it on the Sensex or the real estate market. It is hence assumed that if the confidence index in the city is low, it will have a percolating effect on the rest of the markets across the country.