Just over a decade ago nobody would have even thought about the redevelopment. What then changed in the last two decades? Well, almost about everything changed as far as vision about the urban infrastructure and living is concerned.
ITES and BFSI continue to be primary demand drivers of office space in India in 2012, says DTZ Occupier Perspective: India Office Demand and Trends Survey 2011. It says Delhi NCR and Bengaluru preferred by IT/ITES while Mumbai is BFSI’s favourite. Tier II cities of Bhubaneswar, Chandigarh and Jaipur preferred by IT/ITES; Ahmedabad by BFSI’s favourite; Gurgaon is the preferred micro market in Delhi NCR.
Ahmedabad stands out as a city that weathered the market slowdown most smartly and the property market of the city was the first in the country that showed signs of recovery by June 2009 itself. Since then realty in Ahmedabad is back and booming, with nearly 35% appreciation.
Replicating global trends, the Indian economy is looking towards an impending slowdown in growth due to decline in consumption expenditure, repeated hikes in interest rates and consistently high inflation.
Equinox Realty,an arm of oli-to-steel conglomerate Essar Group,plans to sell a minority stake in its biggest commercial asset in Mumbai to raise between 7.5 billion rupees and 10 billion rupees, sources close to the development said.
While many of the Indian cities are reeling under the apprehension of slowdown with sales nosediving, Pune real estate has defied any such apprehensions.
Manesar was envisaged as a model township encompassing residential real estate as well as commercial office and industrial establishments. Hence, it was appropriately christened as IMT (Integrated Manesar Township).
The much anticipated opening up of Foreign Direct Investment (FDI) in multi-brand retail has renewed interest of several large international retailers in Indian retail market.
We are into 2012 – the New Year with its fresh hopes and aspirations as also a fresh optimism for the economy.
While many of the Indian cities are reeling under the apprehension of slowdown with sales nosediving, Pune real estate has defied any such apprehensions.