Gurgaon initially gained prominence as an outsourcing centre for major international companies that found it cheaper to locate their back-end operations in India due to the availability of high-quality but cost-effective employee resources. GE Capital initiated this trend and was the first multinational company to enter Gurgaon in 1997.
Spanning 5.35 acres, the project offers 676 residential units in spacious 2 and 3-bedroom configurations spanning four towers. The size of 2 BHK units ranges from 993 sq. ft. to 1,107 sq. ft., and 3 BHK units between 1,309 sq. ft. and 1,424 sq. ft. Homes in Provident Bayscape are vaastucompliant and feature several design aspects unique to Chennai residents’ needs, including designated‘Kolam’ area, dedicated ‘puja’ space, and a separate handwash area.
Equity capital inflows touched USD 8.9 billion between January and September, registering a 46% Y-o-Y growth. The strong momentum in deal volume continued, with about 200 deals reported during this period, compared to 151 deals in the same period last year. The average deal size also increased to nearly USD 45 million in the first nine months of 2024 from about USD 36 million in 2023. Mid-sized deals, ranging between USD 10-50 million, represented 56% of the total investment inflows during this period.
Uniform Builder Buyer Agreement (BBA) has been the demand of Indian home buyers for long. In the absence of it, while the home buyers were being harassed by the unscrupulous builders, the sector was at the receiving end of poor perception in the collective consciousness. Track2Realty evaluates whether a Model Builder Buyer Agreement will be a reality after the repeated interventions by the Supreme Court of India.
As the education sector evolves, factors such as technology permeation, revamped building designs, and focus on health & safety are likely to define education real estate. Besides, modern educational building design must prioritise flexibility so that spaces can be reconfigured to adapt to various teaching methods and activities, developing a dynamic learning environment. To address this and move away from traditional classroom setups, educational buildings now include collaborative spaces to encourage teamwork and group learning. Moreover, sustainable, and eco-friendly design elements, such as energy-efficient systems and natural lighting, are becoming increasingly common to reduce the environmental impact of educational buildings.
Residential assets were the first preference for domestic investors during Q3 2024 whereas foreign investors accounted for 64% of the commercial deals. Growing prominence of work-from-office mandates and GCCs (global capability centres) lured foreign investors, leading to an increase in the share of commercial investments from 24% in Q3 2023 to 71% in Q3 2024. On the other hand, the share of residential sector reduced to 19% in Q3 2024 from 44% in the same period a year earlier. However, investment in residential assets is expected to grow in the coming quarters as niche asset classes such as co-living, senior housing, and serviced apartments are gaining traction.
In a report ‘India Market Monitor Q3 2024 – Investments’, CBRE indicates a robust 46% Y-o-Y growth in real estate equity investments, totalling USD 8.9 billion in Jan-Sep ’24 —the highest-ever recorded since CY 2018, surpassing the USD 7.4 billion total equity investments for CY 2023. On a quarterly basis, equity investments in real estate stood at USD 2.6 bn in the Jul-Sep’24 period. Domestic investors (predominately developers) took the lead with ~79% share in equity capital inflows in Jul-Sep ‘24. Singapore-based investors accounted for nearly 73% of the total foreign capital inflows, followed by the United States (~22%). Developer activity picked pace in Jul- Sep ’24 quarter, accounting for a share of nearly 47% in total equity investments, followed by institutional & collective vehicle investors (~36%).
This IGBC pre-certified Silver-rated green township has internationally designed open and green spaces by renowned consultants “ATKINS UK”. Round-the-clock security with surveillance cameras will ensure the safety of its residents. An elite Community Center for Wave Gardens with a Gym, Yoga & Aerobics Room, Library, Carrom and Cards Room, Kids Play Zone, Restaurant, Swimming Pool, Multi-purpose Recreational Hall, etc. will make coming home a pleasurable experience.
Office leasing is likely to record a historic high of ~70 mn. sq. ft in CY 2024 across top 9 cities in India as per current estimates, says ‘CBRE India Office Figures Q3 2024’. The last highest office leasing was recorded in CY 2019 at 66.6 mn. sq. ft. The office demand will be driven by both global and domestic occupiers, who are expected to continue expanding their operations and consolidating their facilities to strengthen their market presence. GCCs are poised to expand significantly in India, accounting for about 35-40% of the total office leasing.
Location continues to be of significant importance to occupiers, with about 60% respondents considering it as the most important parameter for expansion. Interestingly, while expanding, occupiers are likely to lean towards flex spaces with attractive offerings in central areas as compared to facilities in peripheral areas. Going ahead, about 45% of surveyed occupiers would opt for future expansion through flex spaces in CBD/SBD locations of tier I or tier II cities. In terms of work-place strategy, flex spaces are likley to champion distributed work models. About half of the larger companies including Global Capability Centers (GCCs) and MNCs envisage flex spaces to act as both hub and spoke offices in the next few years.