Gross leasing activity is recorded at 50 million square feet in 2018, highest in last eight years driven by buoyant leasing in Bengaluru and NCR. Compared to the previous year, gross leasing increased by 17% as occupiers continued to expand and consolidate. The top 3 sectors contributing to gross leasing were IT-ITeS with 43%, flexible workplaces with 14% and BFSI with 12% share.
National Real Estate Development Council (NAREDCO has requested Government to address the key concerns of the real estate industry and home buyers, offer tax incentives across housing segments and boost buyer’s confidence through a slew of measures in the upcoming interim Union Budget 2019-20.
The project named Atelier Greens, focuses on offering lifestyle beyond the carpet area, drawing inspiration from making spaces where art of living grows naturally.
The listing of India’s first REIT by Blackstone-backed Embassy Group has been in the offing for quite some time, but it now finally appears that it will be listed within the first half of 2019. As REITs await their official deployment in India, investors hoping to cash on this new avenue for generous ROI growth seek to understand what exactly is in store for them – and for the real estate market.
The low consumer confidence has been linked as much to peoples’ lack of confidence in their own ability to pay as with the employment uncertainties. Collectively, the buyers’ risk aversion in today’s economy as well as the developers’ unfair business practices have eclipsed real estate like never before.
Smartworkshas added two new centres in Chennai and Pune to further consolidate its leadership in these two markets. already has two and three centres respectively in these cities. The centres will be operational by early next year and have a total seating capacity of 5000+ people.
This growth is witnessed across five major cities – Mumbai, Gurugram, Noida, Bengaluru and Pune, where 4000 homebuyers were surveyed by 360 Realtors to understand buying trends. One of the key driving factors for the increase in investor interest is the impact of policies such as RERA. Assured rentals and EMI payouts after possession, offered by developers have also significantly boosted investor confidence.
Court has also directed that financial statements, bank details, any important resolutions by Board of directors of the company be placed on record along with minute books and attendance register w.e.f 1st April 2015 onwards. Also notices along with the proof of dispatch of the Board meetings and attendance registers be filed.
Knight Frank India has released a report titled “Co-Living – rent a lifestyle” that suggests 72% of millennials (18 – 23 years) have given co-living spaces a thumbs-upand over 55% respondents in the age group of 18 – 35 yearsare willing to rent co-living spaces.
In India, when the going was smooth a number of leading developers tried to foray into multi-city operations. Most of them had to exit the expansion strategy sooner than later. It rather proved to be the first nail in the coffin for some of these market leaders by size.