Bangalore’s luxury residential market seen a major transformation in the recent past, with the Kingfisher Tower setting a new capital values benchmark (northwards of Rs. 30,000/sq.ft) in the super luxury category. The new dynamics being seen now have been referred to as the ‘coming of age’ of Bangalore’s residential market, and I agree with this definition. We are certainly witnessing a remarkable maturing process here.
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
Jones Lang LaSalle has a new report, Redefining Retail Investment, to coincide with the International Council of Shopping Centers (ICSC) 2012 Retail Real Estate World Summit, taking place in Shanghai this week.
Tata Realty and Infrastructure Ltd (TRIL) is planning to raise two India-focused realty funds, including a $500 million international fund and Rs 300 crore ($55 million) domestic fund, according to reports in a section of media.
Interest from international real estate investors in Indian real estate has been limited in 2012. India has witnessed 6% q-o-q growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%, however China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
The Sahara Group has clarified their stand in public after the jolt by the Supreme Court asking them to refund within three months Rs. 24,029 crore it had collected between 2008 and 2011 from over 2.96 crore investors, flouting mandatory regulatory provisions and the Company Act. In the wake of media onslaught after the Court asked two Sahara Companies to pay 15% interest on the amount, the Group in a statement has following version in its defence.
Kumar Urban Development Limited (KUL) has launched a series of shops at different locationsof Pune at an investment of about over Rs 250 crores.
India witnessed increased transaction activity and retailer expansion in H1, 2012. Leading brands and retailers pursued expansion plans aggressively, increasing their presence across key retail hubs. In all the seven cities presented in the review, the retail real estate market appears to be promising with an increase in retailer enquiries. These are the findings of CBRE’s latest report titled “India Retail Market view.”
Pune has been a favoured industrial destination for a very long time. In fact, manufacturing has been a major development focus for the city since the inception of PCMC in the 1960’s. Since then, there has been a massive influx of European companies who were and continue to be keen on setting up manufacturing facilities there.
If you think prime locations in the NCR have hit the roof and you missed the dream rally in having a reasonably priced home, there is no reason to look at the secondary locations. In an expanding National Capital Region (NCR) while some of the locations deter you due to its less appreciation potential or controversies galore, then probably your property hunt has not led you to the destination next of the region—New Gurgaon.