Track2Realty Exclusive: Thane is a cosmopolitan suburb which has evolved from being a mere city of lakes to the nestling zone of the urban middle class. Most of the working professionals in Mumbai have found Thane to be an ideal location to buy an apartment or take it on rent. Affordability has been a key USP of Thane property market, which has further been ignited with better connectivity.
Track2Realty Exclusive: Noida has defied the conventional wisdom of economics of late, thanks to the new found interest of the multinational corporations (MNCs) and the NRIs. This is due to the fact that the investment pattern of these two demand drivers have so far been guided by the conventional wisdom of economics that suggests to put money in a relatively mature market, and that too when the macro economic outlook is bright and the sentiments bullish.
Track2Realty Exclusive: The Tamil Nadu Government must be commended for its focus on infrastructure development; it is a key determinant of the state’s economic progress. So long as the commitment to infrastructure remains, the prognosis for real estate will be good.
Track2Realty: Knight Frank India in association with the Federation of Indian Chambers of Commerce & Industry today released its second set of findings of the quarterly Real Estate Sentiment Index. The first index that covered Q4 2013 was released in February, 2014.
Track2Realty: During 1Q 2014, commercial leasing in eight major cities recorded at around 8 MN SF including 1.7 million sq ft pre commitment from large corporates for future expansion. Cities like Bangalore, Delhi, Gurgaon and Kolkata witnessed increase absorption on qoq basis. Bangalore and NCR topped the chart contributing 75% in the total absorption. Bengaluru witnessed the highest absorption to the tune of 3.8 million sq ft followed by 2.3 million sq ft in NCR. IT/ITeS topped the charts and remained the primary demand driver IT/ITeS followed by Engineering and BFSI sectors.
Track2Realty: There has been a 43% increase in Q1 2014 new residential unit launches from the previous quarter. The total estimated unit launches were recorded at 55,500 units across major eight cities of India with Bengaluru recording the largest number of units launched, an increase of 22% from previous quarter, says a report by Cushman & Wakefield.
Track2Realty Exclusive: Statistics only tell half the story and this old adage is all the more relevant in the property market where the transactions and appreciation/depreciation may or may not have a direct co-relation. In Gujarat real estate market the prophets of doomsday had a field day in the last over a year time due to slow pace of growth. They cited the National Housing bank’s Residex that shows Ahmedabad witnessed only 6 per cent growth in property prices in last one year.
Track2Realty Exclusive: While the infrastructure of Pune has been comparably better than many urban centres across the country, there is no denying the fact that the kind of urbanisation and migration that is happening in the city the load on the infrastructure is increasingly getting heavy. Moreover, since most of the infrastructure has been created by the private developers in the city of late; hence there has been uneven growth of infrastructure across the city.
Track2Realty Exclusive: The occupier report of office space is often seen as the barometer of the vibrancy of the given property market since it indicates the level of economic activity that sustains all other segment of real estate, residential and commercial in particular. However, in downtown Coimbatore market this premise was never considered for critical evaluation since the market had multiple demand drivers and office uptake was not necessary criterion for any of these demand drivers.
Track2Realty Exclusive: Mumbai real estate has historically been the red hot property, something worth aspiration of millions. The island city with less supply and more demand with ever increasing migration only meant that even if the market deviated from the conventional wisdom of economics in demand & supply dynamics, it still would be a sellers’ market.