Track2Realty: The overall vacancy levels in malls declined by 0.6 percentage to 14.51% on account of consistent leasing activities while supply has been only 0.77 msf gets added in Kolkata and Pune, says a retail report by Cushman & Wakefield. Healthy transaction activity led to reduction in overall mall vacancy of Pune and Kolkata despite the addition of fresh mall space in both the cities.
Track2Realty: top eight cities witnessed total estimated residential unit launches of 132,000 units between January to September 2013 which represented an increase of 5% as compared the to the same period for 2012, says a report by Cushman & Wakefield (C&W).
Track2Realty: The announcement by the markets regulator Securities Exchange Board of India (SEBI) to introduce a separate regulatory framework under the proposed draft SEBI (Real Estate Investment Trusts) Regulations, 2013 has brought cheers to the real estate sector. And if implemented, REITs can bring back the growth to the sector, said industry experts, who gathered at the RICS Real Estate Conference 2013 – Regaining Business Confidence. The conference was organized on 25thOctober 2013 in Mumbai.
Track2Realty Exclusive: The festivities around Navratra and Diwali are known to cheer up the sentiments of the property market. Reflection is always seen both in terms of upbeat mood of developers, as more launches are planned around this time, and the home buyers, as most of the bookings take place during this time.
Track2Realty Exclusive: Welcome to Ansaara Metro Park, a joint venture between Luxora Infrastructure and Aanya Group in one of the non-descript locations of Nagpur. Launched around three years back, it was projected to the media as Asia’s largest ‘Metro Park’. It has now proved to be a mere beating own trumpet for inviting journalists from Mumbai and Delhi.
Track2Realty Exclusive: Seen as the poor cousin of Gurgaon-Manesar till only recently, Bhiwadi is fast emerging as the property hot spot and the price appreciation in this sleepy town not long ago has actually been steadfast in the last four-five years.
Track2Realty: The estimated demand for office space across the top eight Indian cities in the period of 2013 – 2017 is expected to be 132 million square feet (msf), says a report by Cushman & Wakefield. Office space absorption in top eight cities is expected to be approximately 22.5 msf in 2013 which will be a decline of approximately 26% over 2012.
Track2Realty Exclusive: Bhiwadi in Alwar district may be seen as a gateway to Rajasthan by many, its emergence as a property hotspot has more to do with the thriving economic activity in the neighbouring state of Haryana. Of course, Rajasthan Industrial Development and Investment Corporation (RIICO) is also aggressively pushing to make the place a destination magnet.
Track2Realty Exclusive: The property rates and cost of living in the metros like Delhi, Mumbai and Bangalore have been soaring drastically over the years and owing to this, these cities have reached a kind of stagnation in terms of real estate and retail growth. This scenario has shifted the focus of investors as well as the customers towards the tier II & tier III cities.
Track2Realty: Cushman & Wakefield have estimated that the share of luxury retail space in India will be a modest 1.44% by 2015 as against the current 1% even as total retail malls stock is set to increase by 27% by 2015.