The data analysis reveals that about 26 million sq ft of Grade A office buildings are under various stages of construction in the city which will completed by 2020. Most of this upcoming supply is concentrated in Outer Ring Road (ORR), which is a major commercial hub in Bengaluru.
Track2Realty: Western suburbs of Mumbai are set for a facelift through redevelopment post the new Development Control Rule (DCR). Ravi Sinha speaks to Lalit Kumar Jain, CMD, Kumar Urban Development and CREDAI President to understand whether it would add more pressure on the existing crumbling infrastructure of the suburbs. Excerpts of the interview:
The infrastructure development and building approvals in Mira-Virar area came into sharp focus at the 1st AGM of the MCHI’s MVC Unit.
The conference uncovered unique perspectives on how Smart Facilities Management can play a crucial role in anticipating and preventing equipment failures, reducing downtime, and optimizing resource allocation in real estate assets by adopting the latest technologies and innovations including, IoT sensors, AI-driven analytics, and machine learning algorithms, to enhance the overall performance of their real estate assets. Furthermore, better risk management practices can contribute to the longevity of assets. Regular inspections, maintenance, and upgrades can help identify and address potential vulnerabilities, reducing the likelihood of damage and ensuring the continued functionality of critical public infrastructure.
The office sector was the most sought after in terms of investment activity in APAC in the first half of 2024, followed by industrial sector. In India too, investments in industrial & warehousing and office assets remained strong in the first half of the year. Investments in Industrial assets especially, were 5X times, compared to same period last year. Amidst rising demand for superior quality Grade A assets and evolving supply-chain models, global investor confidence in the sector is improving significantly.
Puravankara has acquired the redevelopment rights of a prestigious society — Miami Apartments at Breach Candy. Spread little over ~2,000 sq m of land, this marks the developer’s entry into the uber-luxury South Mumbai market, where rates (as per market sources) are estimated in the range of Rs 1,25,000 and Rs 1,40,000 per sq. ft.
The private developers can at the best maintain some components of social infrastructure like schools & hospitals, but not the key components like police station or post office in the vicinity.
While there is no denying that quality social infrastructure projects like Golf Club have been the USP of India’s luxury landscape in Gurgaon, yet such projects have often fallen into the no man’s land in terms of its ownership issues and challenges to create.
Some of the mega infrastructure projects, when completed, like Hyderabad Metro project next year and the other projects like Strategic Road Development Project of INR 3000 crore and four major flyovers/skyways to decongest busy junctions and nodal city points, are very promising from the standpoint of transportation in the city.
When one develops a slum, for instance, and even if 20 per cent of land is given for commercial use as incentive in the bargain, it is a deal for the developer. After all, in the space starved city like Mumbai even a small chunk of land in any of the prime location is a rare commodity. The question is if such a business dynamics is a feasible model, why did the developers shied away from making the best of it so far.