Budget after budget the industry voices across the built environment of the Indian real estate echo the causes & concerns of the supply side – builders. On the eve of the Union Budget 2021-22, it is imperative to address the issues that affect the demand side – buyers. Failing to address the buyers issues, would be detrimental to the revival of the sector which, in turn, is critically linked to the revival of the economy at large.
I&L space take-up in 2019 was dominated by small-sized transactions (less than 50,000 sq. ft.), which held a share of about 42%. The share of medium-sized transactions (ranging between 50,000 sq. ft. and 1,00,000 sq. ft.) rose from 26% in 2018 to 30% in 2019. Large-sized deals (greater than 1,00,000 sq. ft.) accounted for 28% of the leasing activity during 2019. The number of large-sized deal closures in Hyderabad, in particular, doubled in 2019 as compared to 2018.
OYO Workspaces forays into Chennai with the launch of coworking brands – Innov8 and Workflo in the premium and budget categories. Incentivising start-ups, entrepreneurs and large companies to switch to managed workspaces, Innov8 offers seats starting at INR 9000 per month while Workflo offers seats starting at INR 5000 per month.
After nearly two-and-half years since RERA deployment across the country, the Centre’s aim to enforce it in each state to regulate the Indian real estate sector has picked up momentum. There has been a 40% growth in project registrations under RERA in a year across the country – from around 32,306 projects in end of September 2018 to nearly 45,307 projects as on 5th October 2019.
Based on the concept of contemporary design led by Singaporean architecture, ‘Singa – Pune’ is a 21 acre township located at Dhanori, Pune with over 1000 apartments in phase 1. With internationally designed landscape across the project and 51 world-class amenities, the project will truly transcend the engineering and aesthetics of Singapore architecture to the city of Pune. The apartments are priced starting at 13L for Studio Apartments, 22L for 1 BHKs and 30L for 2 BHKs. The project will be completed in three phases and will progress across a span of 60 months.
Embassy Group will target students from colleges and working professionals employed with multinational companies in organized Grade A Business parks across major cities namely Bangalore, Pune, Hyderabad, Delhi NCR, Mumbai, and Chennai. The official brand launch is planned by the end of 2019 with a flagship project in Bangalore, followed by Pune.
OYO Workspaces, India’s fastest growing, multi-brand managed workspaces solutions provider is expanding its footprint in India and has forayed into the Hyderabad market with its new Innov8 centre. This new centre named as Innov8 Sreshta Marvel Hyderabad, is situated in Gachibowli, in the vicinity of Hitec City and has a capacity of over 700 seats. It is a beautifully crafted workspace with an industrial design language and is the latest addition to the company’s 22+ coworking centres.
GIFT City is located on the banks of Sabarmati River, connecting the business capital (Ahmedabad) and the political capital (Gandhinagar) of Gujarat State. It is spread over 886 acres of land. It features world-class infrastructure such as district cooling system, underground utility tunnel, automated waste collection which are being implemented first time in India. The city is designed for walkability and includes commercial, residential, school, club etc. Presently, around 200 companies are operational at GIFT City, employing around 9,000 people.
Over the last few years, co-working spaces have gained popularity with start-ups, small and medium enterprises (SMEs) and large corporates. Unlike the traditional business centres, co-working offices offer unique amenities such as a gymnasium, spa, a food court, gaming zones, sleeping pods, crèche services etc. These attributes have helped popularize co-working spaces among employees, entrepreneurs and corporates alike.
The CP story is very old, one that spans about 50 years or more. It was NCR’s central business district (CBD). It is still probably the CBD. But office space in CP is stagnated. The new business districts such as Cybercity, GCR, Aerocity and GCE are growing at a rapid pace, meeting an enormous demand for commercial office space. Now, it’s a tale of two cities- Delhi and Gurgaon.