Located in Dodamarg, Axis Lake City is barely 35 KMs away from Panjim city centre. It is also just 18KMS away from the prestigious MOPA airport, which is expected to be operational by 2022. Spread across 12 acres, the project offers commercial plots in the size of 150 square meters, with state-of-the-art infrastructure and facilities. The size of the project is INR 40 crore and it is expected to be completed by 2023.
The cost of doing business per square feet has always been challenging in the top 10 cities of India. The ever increasing migration for jobs in these cities have made the housing affordability even bigger challenge. Critics are not cynical when they question as to what extent and till when these cities will continue to be filled up like a soda bottle. Aren’t our metro cities on the verge of a population blast? Come 2021 and Track2Realty analysis believes the infamous Coronavirus in a strange way has shown the way forward.
With the vaccination drive in full swing, there is renewed optimism, and the country’s economic momentum seems to be picking up. In particular, the real estate sector is witnessing new interest from homebuyers as seen in Q1 FY22, spurred due to positive government policies, initiatives taken by the developers and pent-up consumer demands. This is a new phase of real estate growth, innovation, and investment, contributing towards making India the world’s fastest-growing major economy.
Godrej Properties has strengthened its brand leadership for the 2nd consecutive year. The 9th edition of Track2Realty BrandXReport 2020-21 finds that the K-shaped recovery in the Indian real estate has helped most of the organized developers with corporate governance, at the cost of the large universe of the companies operating like personal fiefdoms.
Residential markets such as Bengaluru, Chennai, Kolkata, Delhi and more have witnessed price corrections ranging from 1%-2.3% during the quarter, suggesting the solidity of the housing sector even in difficult times. However, with this price increase, you will still come across certain real estate brands offering discounts and continuing to sell at the previous cost of construction. In such a scenario, how does one choose the real estate player who is honest and fair in his dealings? My simple answer would be go with a genuine brand but how does one identify what is genuine.
Investors continued to be bullish on the Indian market, snapping up assets in office and industrial space. Office assets accounted for 35% of the total investments in H1 2021, followed by industrial and warehousing assets with a share of 27%. Investors are viewing the current scenario as an opportunity to snap up properties at attractive valuations.
The question is whether the developers are yet ready to address what employees really want. Professionals with real estate background (both working as well as those who already quit) maintain that ‘Involvement’ is the key career objective nowadays but real estate companies never provide challenging work that inspires and realises results. What professionals demand is ‘Respect’ but the management hardly acknowledge the talent and contribution of each employee.
Across the built environment of the Indian real estate the two question that are on everyone’s lips is about the recovery timelines and segment to recover first. Track2Realty finds this uncertainty about the possible recovery, or rather the lack of it, has also kept the fence sitting home buyers on the edge.
Much before the outbreak of pandemic Coronavirus, the Indian real estate sector battling with the consistent slowdown was looking up to the turnaround catalyst. While the success of REIT had given it a glimmer of hope, the fund managers had their eyes set on a segment that has the potential to not just spread across the country but give a piggy ride to other segments as well, most notably to the housing. Track2Realty finds the warehousing & logistics to emerge as the mainstream real estate in the last few years.
Gagan Randev has joined India Sotheby’s International Realty (India SIR) as Executive Director. Gagan, with experience in the real estate and financial sector, will spearhead India Sotheby’s International Realty’s efforts to focus on asset sales across different asset classes, land, funding, and cross border initiatives.