Various Government-driven policies including ease of doing business in India are attracting both Indian and global companies, squarely benefiting commercial real estate. Big-bang boosters like the start-up revolution and the Make in India and Smart Cities missions have created a very lucrative environment for businesses to work and expand in India.
Singapore investors are betting big on Indian commercial real estate and other new sunshine sectors, including logistics and warehousing. Major Singapore-based private equity firms are funnelling billions of dollars into the country’s real estate sector, particularly in South Indian cities.
The company plans to increase its team strength in the Gulf to 500 and is targeting a Gross Transaction Value of $600 mn. from its international business in 2019. It also plans to set up operations in Saudi Arabia in this calendar year.
As per ANAROCK data, the top 7 cities currently have a total stock of 5.6 lakh delayed housing units worth a whopping INR 4,51,750 crore. These units were launched either in 2013 or before that. Lakhs of buyers across top cities – particularly MMR and NCR – have been left in limbo, leading to inconceivable mental stress and financial pain.
Investors are scouting for investment-ready assets in core office locations in Mumbai, Delhi-NCR, Bengaluru and Hyderabad, which together accounted for about 77% of the total leasing in 2018. We foresee higher investor interest for Greenfield projects in southern cities, especially Bengaluru and Hyderabad, which are witnessing pent-up demand in key office corridors.
FastFox was valued at just under INR 100 crores at the time of this transaction. With this acquisition, Elara has entered the online-to-offline home rentals space, which has a market opportunity of over INR 20,000 crores. The addition of FastFox.com to its portfolio allows Elara to offer a comprehensive end-to-end service to landlords and tenants, thereby ensuring a significant improvement in consumer experience.
There is a public perception that what has transformed this once non-descript city into thriving metro city is the gulf money since a large number of Kochi residents are working in the gulf region. However, Kochi property market is not being driven by gulf money alone; this could be only a reality in the luxury segment.
The Indians think instead of media hyperbole of big measures many of the small but practical measures can go a long way to ensure a house for each family, if not each individual. Some of the suggested measures may not make the government popular, and hence the Indians are not convinced with the promise of housing for all.
DLF has signed its second joint venture with HINES. DLF Home Developers Limited (“DHDL”), a wholly owned subsidiary of DLF Limited (“DLF”), and Green Horizon Trustee (an affiliate of “HINES”) have entered into a Joint Venture for developing a high-end commercial project in Gurugram.
I am also conscious of the fact that no one would dare to file a case. It will only make them a laughing stock and force me to further expose their fault lines and consumer grievances/backlash in the public domain. This is one business where there is always more to conceal than reveal.