New research from Jones Lang LaSalle reveals that positive business sentiment and solid corporate hiring are buoying leasing demand in the office markets of Asia Pacific. In 2010, aggregate net take-up across major Tier I markets was more than double the level of the previous year.
Bharti-Walmart, a 50:50 joint venture between Bharti Enterprises and US-based Walmart, has roped in real estate company, Ansal API, to set up its cash-and-carry store in Lucknow.The ‘Best Price Modern Wholesale’ store in Lucknow will be spread over 60,000 sq feet in Sushant Golf City, a high-tech residential township being developed by the Ansals.
It seems the revival in the realty market has once again started attracting big ticket investments in the sector and even the corporate in the allied business want to reap the benefits. Nitco Ltd, known for flooring and interior aesthetics solutions provider, has now marked its foray in the real estate sector with the inauguration of its first commercial project- Nitco Biz Park.
While the realty sector is cribbing for under representation in budget for the last few years, Atul Modak, Head of Mumbai-based Kohinoor City goes a step further to say realty sector not only gets under represented but also it is treated with a bias. He asserts that instead of seeing it as one of the sector responsible for growth of the economy, it is looked with a bias and taxed accordingly. In an interview with Ravi Sinha, he shares his budget wish list and concerns for the sector.
Gone are the days when we were chained to our desk from 9 to 5. How we work is changing. The idea of a “Third Place,” a space that’s neither home nor office but where people want to spend a portion of their lives, was introduced as far back as 1989 in Ray Oldenburg’s book “The Great Good Place.” Today, thanks to the advent of wireless technology, the concept has evolved from being merely from a civic or entertainment space and now also applies to a flexible work space for mobile employees.
DLF Limited, India’s largest real estate company, recorded consolidated revenues of Rs 2,594 crore for the quarter ended December 31, 2010, an increase of 21% from Rs 2,151 crore in the Q3FY10. EBIDTA stood at Rs 1,292 crore, an increase of 33% as compared to Rs 969 crore in the corresponding period last year. Net profit was at Rs 466 crore, as compared to Rs 468 crore in Q3FY0. The non-annualised EPS for the quarter was Rs 2.74
Don’t wait for the right time to buy a house expecting a price correction, say seven out of ten home buyers who are on house hunting. Contrary to the price correction reports, the property search of prospective buyers and sellers across the country have convinced them that cheaper house in 2011 are a fancy and wishful thinking. At least those who have done their home work on property search are pretty sure about it.
As world business and political leaders today convene at the World Economic Forum Annual Meeting 2011 in Davos, Switzerland, Jones Lang LaSalle Chief Executive Officer Colin Dyer is speaking on four commercial real estate trends that are emerging as dominant forces supporting the global economic recovery in 2011.
The world’s largest and Mumbai’s oldest Red Light District ‘Kamathipura’ known for its kothas that is brothels engaged in flesh trade is now turning golden with the increasing interest of the real estate developers there. Thanks to the Mumbai police that the increasing pressure on brothels under the Immoral Traffic Prevention Act have compelled the operators to shut the brothels and move to suburban area like Navi Mumbai for resettlement; making way for the real estate developers to plan out commercial complexes in the area.
Through a hailstorm of bouquets, brickbats, controversies and triumphs, the Indian real estate sector has always been one of the mainstays of the country’s economy. At some level, every Indian is connected with it; in some way or the other, it affects every citizen of this country.