Track2Realty: Technically speaking, retirement home projects are developed keeping in mind certain age groups, and should ideally be designed with special facilities to make life more comfortable for senior citizens. However, the on-ground interpretation in India has for the longest time been that any project and location that fits a certain budget and requirements is potentially a suitable ‘retirement home’.
Track2Realty: The Indian monsoon months are synonymous with low activity in real estate, but this year witnessed considerable amount of activity in the office sector. Compared with last year’s monsoon months of July, August and September (3Q CY 2013), this period in 2014 showed 58% growth in office space demand.
Track2Realty: Net office uptake in the first three quarters (Jan – Sept) of 2014 has seen a significant rise of 36% as compared to same time last year. Total net absorption of office space has been recorded at approximately 24 million square feet (msf) between January – September in 2014 as against the 17.7 msf in same time in 2013, says Cushman & Wakefield in a report.
Track2Realty-Agencies: In a boost to realty-related investment in the state, West Bengal Government has decided to grant an exemption under section 14Y of the West Bengal Land Reforms Act for township projects enabling them to acquire land more than the ceiling limit of 24 acres.
Track2Realty Exclusive: While the real estate market in the metro cities have been flirting around with the NRIs to woo them with big-ticket investments, the discerning expat Indians had some other ideas. The destination to those desirable ideas was definitely not leading them to metro cities. So, at a time when the spate of luxury and super luxury launches were put on offer, the match makers of pricey dollars preferred to court the humble markets where the modest rupee was well grounded not to flaunt with pomp and show.
Track2Realty: Consequent to corporate real estate transaction closures during the first nine months of the year across the leading seven cities in the country, CBRE notices the potential generation of office employment opportunities of over 2,70,000.
Track2Realty: The month of October saw the government easing Foreign Direct Investment (FDI) norms to boost India’s construction sector. The announcement is expected to widen the sector’s investor-base by allowing FDI in smaller projects of 20,000 sq. m. instead of 50,000 sq. m. from firms with capitalization of US$5 million instead of US$10 million.
Track2Realty: Cushman & Wakefield in their latest research on the residential markets of India have reported a drop in total residential units launched in 3Q 2014 (July – Sept.) of approximately 21% as compared to same time last year.
Track2Realty: The key southern markets of Bangalore, Chennai and Hyderabad together clocked in about half of the total corporate real estate space take-up among India’s leading office markets during the first nine months of the year.
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.