Track2Realty: An increase in the number of enquiries for residential properties has been seen across the major cities. However, transaction volumes have not improved much. Restricted sales transactions were observed in major cities like Mumbai, Delhi, Gurgaon and NOIDA during 1Q 2014, as per a report by Colliers International.
Track2Realty-Agencies: Brys Group has given a Rs 330-crore contract to UAE-based Arabian Construction Company for the development of 81-storey tower in Noida.
Track2Realty: The Housing Sentiment Index (IIMB MB HIS) assessed by IIM Bangalore and Magicbricks forecasts that homebuyers across 8 of the 10 cities surveyed expect real estate prices to rise over the next six months. The aggregate Housing Sentiment Index (HSI) measured across 10 cities this quarter stood at 108. (An HSI score of 100 suggests the prices would remain static).
Track2Realty: During 1Q 2014, commercial leasing in eight major cities recorded at around 8 MN SF including 1.7 million sq ft pre commitment from large corporates for future expansion. Cities like Bangalore, Delhi, Gurgaon and Kolkata witnessed increase absorption on qoq basis. Bangalore and NCR topped the chart contributing 75% in the total absorption. Bengaluru witnessed the highest absorption to the tune of 3.8 million sq ft followed by 2.3 million sq ft in NCR. IT/ITeS topped the charts and remained the primary demand driver IT/ITeS followed by Engineering and BFSI sectors.
Track2Realty: There has been a 43% increase in Q1 2014 new residential unit launches from the previous quarter. The total estimated unit launches were recorded at 55,500 units across major eight cities of India with Bengaluru recording the largest number of units launched, an increase of 22% from previous quarter, says a report by Cushman & Wakefield.
Track2Realty: The total the net office space absorption across 8 cities is recorded at 5.9 million square feet (msf) which is 58% higher than same time last year, says the quarterly office market report (Jan–Mar 2014) by Cushman & Wakefield. Among the 8 cities, Ahmedabad and NCR recorded a 3 times increase in net absorption over the same period last year. However, there was a decline in net absorption of approximately 22% over last quarter (Q4, 2014) in all cities.
Track2Realty: The total fresh mall supply by the end of 2014 is projected to be approximately 14 million square feet (msf) approx. in the top eight cities of India, of which 13.6 msf is still under construction, says a report by Cushman & Wakefield. This is nearly 200% more than the supply received in 2013 which was recorded at almost 4.6 msf. Of the total expected mall supply for the year of 2014 approximately 60% or 8.2 msf of fresh mall supply is expected to be received by National Capital Region (NCR) followed by Bengaluru at 2.86 msf.
Track2Realty Exclusive: Call it migration or mere attraction, the Indian Real estate is spreading its roots into cities-in-making. Though fact remains that this sector has lots to thank the tier I cities for its large scale investments, but the winds of change are here to stay. The recent economic and investment policies, initiated by the government are giving a boost to the less known lands across the Indian sub-continent.
Track2Realty Exclusive: Home buyers across the country find the reports of price appreciation a manipulative marketing myth. They blame a strong cartel of brokers/underwriters responsible for artificial appreciation which does not have any market logic. What comes as a bad news for the developers and promises to redefine the market dynamics of the real estate is the fact that buyers’ awareness has caught on the market manipulation that appreciates property prices unreasonably. It also indicates the marketing strategy of the realty companies is not grounded while operating in an eco system of brokers/underwriters to absorb the artificial appreciation.
Track2Realty: Prime office space absorption in the Delhi National Capital…