The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Even as global economic slowdown and uncertainty in financial markets have battered the real estate industry countrywide, properties in Kolkata and Chennai bucked the trend with steady demand in affordable and mid-segment housing.
Jones Lang LaSalle India, the country’s largest and leading international property consultancy, has been honoured with the prestigious India M&A Deal Of The Year award in the Middle Markets category.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
Realty major DLF has begun selling homes in south Bangalore for prices starting at Rs.28 lakh compared to the Rs.70 lakh-plus starting price for most of its flats, echoing a trend it has stayed away from for years.
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An oversupply of commercial office space in Mumbai and other metros could lead to a huge price correction in the country’s realty market.
Jones Lang LaSalle as part of its most recent initiative to provide ‘best’ service to its clients, owners and sellers, has launched a new customised and dedicated residential portal for Asia Pacific.
The festivities around Navratra and Diwali are known to cheer up the sentiments of the property market.