Track2Realty: Godrej Properties has entered into an LLP to develop a residential township project in North Bengaluru. The project, spread across 100 acres, will offer a potential saleable area of approximately 0.87 million square meters (9.4 million sq. ft.) though its proximity to the new international airport may lead to a reduced consumption of FSI.
Track2Realty Exclusive: Noida seems to be on a highway of growth corridor and is fast emerging from the shadow of being poor cousin of NCR’s glorified market of Gurgaon. If the spate of luxury and other high-end launches are any indication, already Noida is in the process of an image makeover where the investors’ confidence is increasingly tilting in its favour. The price appreciation in the last over a year across the Delhi-NCR region suggests that Noida has been witness to the best ROI to the investors.
Track2Realty Exclusive: The term ‘serviced apartment’ is traditionally used to describe an apartment alternative to hotel accommodation for long stay leisure or business travelers. However there are two types of accommodation namely extended stay and corporate housing. It is built in a manner where a furnished accommodation, comparatively larger than a hotel room, with small kitchenette is provided with basic facilities of a household, sometimes even provided with concierge service.
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: With economy witnessing a downturn, interest rates and inflation reaching all-time highs, 2013 has been one of the most eventful years for Real Estate in India. While introduction of Real Estate Regulatory Bill and Land Acquisitions Bills in the Parliament was positive for the real estate industry, end users sitting on the fence expecting a fall in prices lead to a contraction of demand in the past few quarters.
Track2Realty Exclusive: Real estate gains are not always short-term but often long-term from investment point of view. The same can be said about 2013 where despite of an outside view dismissing the year 2013 for low sales velocity, piling inventory, liquidity crunch and policy ambiguity, added to the country moving to the General Elections in 2014, the sector has managed to pave the way for long term reforms.
Track2Realty: India continued to feature on the list of the world’s most expensive office markets, with New Delhi (Connaught Place – CBD) ranking at the 7th position, according to CBRE Global Research and Consulting’s semi-annual Prime Office Occupancy Costs survey. Mumbai’s Bandra Kurla Complex (BKC) bagged the 15th position, while Nariman Point stood at the 32nd position. The latest CBRE survey provides data on office rents and occupancy costs as of September 2013.
Track2Realty: Total net office space absorption recorded a 25% decline in across top eight cities over last year. According to the annual year end estimations by Cushman & Wakefield the total net absorption for 2013 was recorded at 23 million square feet (msf). Most cities have witnessed a decline in net absorption in the range of 20-40% during the year, except Pune where incremental new space take-up increased by 15% in 2013.
Track2Realty Exclusive: When a developer few years back launched a 5 acre project in Coimbatore dedicated to the senior living, it raised quite many eye brows. Everyone was wondering whether there is a market for such a project, exclusively conceptualised for the senior citizens. Critics even had it that the project is ahead of its time and some termed it as a project meant for parking the investment.
Track2Realty Exclusive: Gurgaon, Mumbai, Pune…wait India has just discovered yet another claimant as the ‘Luxury Capital’. The City of Ahmedabad known more for its cost conscious living and affordable housing has been witness to the city’s slow but steady rise to the luxury living with developers’ focus shifting on luxury projects, buyers’ looking up to scale their living and luxury brands flocking to the city.