Year 2018 was a veritable roller-coaster ride for the Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.
ANAROCK Property Consultants has appointed Shajai Jacob, Executive Director & Head – Marketing (West Asia) at i JLL India, as Chief Executive Officer – GCC (Middle East).
Central Park is making strides towards developing an intelligent community by leveraging modern technology to provide an improved quality of life for consumers by integrating fans, ACs, lights, video-door phones, panic buttons and smoke sensors, with third-party automation devices such as Amazon Alexa and Echo Dot to provide greater control and convenience.
The gross leasing activity in India was recorded at 36.4 million sq ft for the first nine months of 2018, up 26% YoY. Pan-India demand for Grade A office space was driven by the technology sector (48%) in Q3 2018, followed by banking and insurance representing 19% of the total leasing volume.
Piramal Realty has launched second tower, Arav, at its 7 acre signature development, Piramal Aranya. Situated in the heart of Byculla, Piramal Aranya promises to define premium living that encapsulates the plush and culturally poised neighborhood.
With the expectations of Navi Mumbai International Airport becoming a reality, the property market is suddenly back in the demand. This has also made the mood of the Navi Mumbai residents very upbeat. They believe the real rise and growth of Navi Mumbai is not behind but ahead.
Such misleading claims prima facie give an impression that the property market in the Indian cities in general, and Delhi-NCR in particular, have peaked up on the eve of long festive season ahead. The claims nevertheless raise more questions than could answer as to how and why there has been sudden spurt in the sales velocity.
Analysts active in Navi Mumbai firmly believe that this NRI has got more than one upcoming node in Navi Mumbai where he can invest. Interestingly, the upcoming nodes have been more holistically planned and promise to have better infrastructure.
This is probably one of the wishful thoughts of the developers that have been over projected round the year (NRI investment being the other). But a ground zero study of the property market across the key cities indicate that the online property portals offering real estate deals may have made inroads like never before, this definitely is not the end of traditional brokerage or substitute of traditional format of selling through taking clients to see it and believe it.
Indian cities witnessed a strong office demand in Q2 2018, with about 12.6 million sq ft of gross absorption recorded, indicating a 10% QoQ growth in office leasing activity.