Track2Realty Exclusive: The debate over promoter driven versus professional driven also brings to the table the fundamental question as to whether the entry of corporates into the business has changed the outlook of real estate in India. Have they brought about transparency and corporate governance?
Track2Realty: NCR retail real estate market remained largely stable as per the latest retail report from real estate consultancy Cushman & Wakefield. A few locations in both main street as well as malls saw some appreciation in rental values. Connaught Place (Inner Circle) recorded an increase of 12% while prime malls across Delhi NCR saw a positively rising curve following robust demand for the same.
Track2Realty Exclusive: While the real estate fraternity, legal experts and others had strongly questioned the basis of the CCI order and the enormous penalty of Rs 630-crore levied on the real estate major, the sector itself eventually approached the CCI through its industry associations against the cement cartel. Acting on the sector representatives’ complaints, the CCI imposed a penalty of Rs. 6, 307 crore on 11 cement companies for cartelisation.
Track2Realty: The prime office space segment across key cities in India are witnessing an improvement in sentiment from last year. According to CBRE’s latest report, India Office Market View Q1 2013, prime office space absorption across key cities in India witnessed approximately 17% increase in Q1, 2013 as compared to Q1, 2012.
Track2Realty: DTZ annual office space forecast says 21% increase in take-up is expected. Overall take-up stood at 4.80 million sq ft for Q1, a sharp drop of circa 29% from previous quarter. Mumbai witnessed the highest take-up of 1.25 million sq ft, an increase of 3% q-o-q.
Track2Realty: The prime office space segment across key cities in India are witnessing an improvement in sentiment from last year. According to CBRE’s latest report, India Office Market View Q1 2013, prime office space absorption across key cities in India witnessed a 37% increase in Q1, 2013 as compared to Q1, 2012.
Track2Realty-Agencies: The proposed bill to regulate the real estate sector seeks to establish a transparent system of delivery and would not hamper the growth of the sector, a top government official has said.
Track2Realty Exclusive: East Zone (Kolkata) The overall retail market in the city continued to display sluggish trend with only a few major retailers expanding their operations in large format standalone stores in established high street locations.
Track2Realty Exclusive: Analysis of West Zone (Mumbai)
The retail landscape across the western zone of the country has remained active through 2012. The sector performance was characterized by buoyant leasing activity from both Indian and international brands. As a result, in addition to expansion of Indian brands, many international retailers also set up their new outlets in the city. Moreover, the recent policy reforms, allowing FDI in multi-brand retail has improved overall sentiments in the sector.
Track2Realty Exclusive: Analysis of North zone (Delhi NCR)
Owing to sluggish global and domestic economic growth, high inflation and steep depreciation in rupee value, market sentiment remained subdued during the first three quarters of 2012. International brands are still positive about the Indian growth story.