Track2Realty: Positive market sentiments and a gradual global as well as domestic macro-economic recovery may finally be signaling the beginning of a revival in India’s corporate real estate segment. Various corporate firms, who had put their office space consolidation and expansion plans on hold over the previous couple of fiscals, finally began their transaction processes; and many concluded the same during the penultimate quarter of 2014.
Track2Realty: Knight Frank India in association with the Federation of Indian Chambers of Commerce & Industry (FICCI) in its fourth set of findings of its flagship report – the Real Estate Sentiment Index for Q3 2014 (July – September) finds that sentiments are still riding high, though investors remain cautiously optimistic. The report captures the sentiments of the supply side stakeholders on the current real estate market conditions and gives a view into the near future.
Track2Realty: It is going to be quite a hard sell for the real estate developers this festive season as a huge increase of 30% quarter–on–quarter in 2014-15 in new launches in the residential segment met with inventory further going up by 6.7% in the same period, according to an ASSOCHAM recent paper.
Track2Realty Exclusive: To say that the home buyers are coming back to the Mumbai market during the festival season would be stating the obvious. The sentiments driven real estate purchase is already visible with the reported marginal price appreciation of residential real estate across the city. The reports of price appreciation do not just reflect the price trend of the city property market; it does indicate a much larger picture where the recovery of economy and sentiments are all driving the market simultaneously.
Track2Realty: The Oxford of the East title is commonly used in context with Pune because of the number of reputed schools, colleges and management institutions in the city. Apart from the real estate spaces required for the many educational institutions seeking to make an entry or to expand in Pune, this fact has also served to drive demand for residential real estate.
Track2Realty: The draft guidelines for trading in REITs in India have been introduced and allowed. For the very first time, there exists a tool to channel small savings into the Indian real estate sector. Not surprisingly, several owners of income-generating properties are now considering setting up REITs.
Track2Realty: Pune’s rapid growth as a city is constantly pushing the envelope for real estate development. Suburbs that were considered ‘upcoming’ less than two years ago are now established destinations, with increased property price appreciation creating a challenge for budget home seekers.
Track2Realty Exclusive: The real estate has by and large welcomed the move to bring the slum redevelopment and rehabilitation projects under the ambit of Corporate Social Responsibility (CSR). It has been a wish that hat was granted even before the sector could get vocal with the wish list. It is hence no surprise that some of the adjectives that the Finance Minister’s announcement could earn have been ‘a game changer’ or ‘a corporate catalyst’ and ‘investment magnet’.
Track2Realty: Pride Group has launched its mega city township Pride World City (PWC) at Charholi, near Lohegaon airport, Pune. This integrated township is being developed on a sprawling 400 acres of land at one of the most promising real estate locations in the city.
Track2Realty: Pune is no longer the small city whose only claim to fame was its proximity to the country’s financial capital, whose real estate market survived on rural demand emerging from the hinterlands of Maharashtra.