A city with almost every household having one family member working in the Gulf, Kochi or Cochin’s resident population is waking up to new business avenues. This transition is also leading to a growing demand for commercial and residential property.
There is no doubt that the property prices in almost all the micro market of eastern city is going northwards, yet uncertainty looms large over Kolkata realty. There have been less transaction and even lesser new launches in the city, even when the state chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI) demands ten satellite towns in the state.
In the absence of any serious academic research, the sector in terms of brand presence & cutting edge competitiveness has been lacking, to say the least.
Punjab’s first planned eco city, christened New Chandigarh by the State Government, has started to buzz with the major real estate developers and housing societies.
Jones Lang LaSalle has launched a separate office in Andheri, Mumbai’s burgeoning commercial district.
An analysis of the recent revival of commercial real estate market in Mumbai shows that the Banking, Financial Services and Insurance (BFSI) sector has been primarily responsible for the huge uptake of office space.
ICICI Venture Funds Management plans to raise Rs.7.50 billion to Rs.10 billion ($167 million to $223 million) for its second real estate fund.
Real estate developers have expressed their reservations to the proposed Real Estate Bill 2011, which is likely to see light by this year-end.
In what real estate experts see as a sign that land rates are becoming more realistic, a 135-acre plot that belonged to the defunct PAL-Peugeot auto company in Dombivli has been auctioned off to Metropolitan Infra Housing Pvt Ltd (a subsidiary of Gammon India) for Rs 601 crore.
After one and a half years of gradual consolidation, real estate in India has fathomed its own comfortable ground, and is poised at the right threshold to take a giant leap in years to come, according to the forecast of the Jones Lang LaSalle, the global real estate services firm.