Track2Realty: Many developers are trying their best to create new zones and addresses across India that can appeal to HNI property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele.
Track2Realty: A report in 2013 labelled Mumbai as the 16th most expensive city globally in terms of owning a residential space. The southern region of the island city is seen as the most prime, with locations such as Colaba, Cuffe Parade and Malabar hills topping the price charts. Owning a home in these and similar location of other cities can cost a buyer more than he or she would earn in two lifetimes.
Track2Realty Exclusive: Is there any co-relation between luxury properties, High Net Worth Individuals (HNIs) and Akshay Tirtiya? Prime facie, it may seem to be very innocuous question but for those who are tracking the property market of Mumbai find not only a co-relation among the three, but also find the three working in tandem can ignite the property market as well.
Track2Realty Exclusive: While most of the metro cities are crumbling under the burden of increasing urbanisation and the load on the land and infrastructure has led the life miserable there are cities like Pune which seem to be learning from the mistakes of these metro cities and the late movers’ advantage seem to be helping the city grow holistically in terms of its real estate developments and infrastructure issues. What makes the case of Pune even more unique, reasons why it is rated as the best city out of the four established metros is the fact that the social infrastructure has gradually been shaping up well in the city to compliment the physical infrastructure.
Track2Realty-Agencies: Lodha Group has acquired the Canadian embassy building in London’s Mayfair district for $530 million (Rs 3,300 crore) in its biggest move overseas. Lodha Group, which claims to be India’s largest real estate developer, has exchanged contracts to acquire the landmark MacDonald House in central London from.
Track2Realty Exclusive: NCR and Mumbai account for 60-70 per cent of the total deals, along with some top tier I cities. Some tier II cities are also witness to sizeable land deals. Most of the land purchases will be done by regional smaller players instead of big developers, Cushman & Wakefield (C&W) Executive Managing Director (South Asia) Sanjay Dutt says.
Track2Realty Exclusive: While the Vijay Kelkar Committee has strongly advocated in its recommendation to the Central Government that monetisation of the government land can finance the basic urban infrastructure needs, a move in that direction has set the tone for a fresh debate in Maharashtra.
The US Government has hired property consultancy Knight Frank to assess the valuation and strategic review of all its real estate properties in India. The properties, which house embassies, consulates, offices, residences, schools and libraries at prime locations across Delhi, Mumbai, Hyderabad, Chennai and Kolkata, were acquired over the years and are estimated to be approximately worth thousands of crores.
Office architecture in Indian cities has improved significantly during the last decade, in terms of aesthetics, sustainability, scale and amenities that it provides to the occupiers. There is a growing demand from occupiers towards better amenities at the workplace.
India is reeling under the continued onslaught of inflation, petrol price hikes and generalized insecurity about where the economy is headed. Against all expectations, property prices in our metros have held firm and even show signs of upward movement. While the man on the street continues to wonder when he will be able to buy a modest home of his own, India’s super-rich are raising palatial homes at truly astronomical expense.