Track2Realty: CBRE’s India Office Market View for Q3 2014 reports on the status of Grade A office space in the country’s leading cities. The third quarter observed strong demand for prime office space with around 8 million sq. ft. of office space getting absorbed.
Track2Realty: Amit Enterprises Housing (AEHL) has launched its mid-range homes project Astonia Classic at Undri. The project consists of exclusively 2 BHK flats, which are being offered at a concessional price of Rs. 50-52 lakh during the inaugural phase.
Track2Realty Exclusive: At a time when the buzz word across the country has been the inevitable reality of urbanisation and the need to create smart cities the urban planners are wondering which are the Indian cities that can claim to be close to the desired smart index. More importantly, which are the cities that have managed urban development along with the pace of business and economy to emerge as the truly developed cities with self sustaining physical and social infrastructure that could be a magnet for big ticket investment?
Track2Realty Exclusive: While in many other property markets across the country the developers are planning freebies & discounts to attract the buyers, in Gurgaon the demand and supply cycle of the property market is showing a different trend altogether. With very few inventory hangover of ready-to-move stocks available and the macro-economic outlook reviving, the buyers are back in the market and even though a price rise is on the cards the festive spirit is yet driving the home buyers to the market.
Track2Realty: It is increasingly being observed that standalone luxury hotels are becoming unviable in the country, especially in the case of owned, built projects where the land is acquired, and typically comes at a high cost exceeding 40% of the total development cost.
Track2Realty: The draft guidelines for trading in REITs in India have been introduced and allowed. For the very first time, there exists a tool to channel small savings into the Indian real estate sector. Not surprisingly, several owners of income-generating properties are now considering setting up REITs.
Track2Realty Exclusive: The real estate has by and large welcomed the move to bring the slum redevelopment and rehabilitation projects under the ambit of Corporate Social Responsibility (CSR). It has been a wish that hat was granted even before the sector could get vocal with the wish list. It is hence no surprise that some of the adjectives that the Finance Minister’s announcement could earn have been ‘a game changer’ or ‘a corporate catalyst’ and ‘investment magnet’.
Track2Realty Exclusive: Residential market may be the demand driver of the property segment across the country, but experience suggests only the markets where commercial property does well succeeds in keeping the momentum up for long. The conventional wisdom of property market is as relevant in the end-user driven markets like Coimbatore as in the speculative markets of metro cities.
Track2Realty: CommonFloor.com has received USD 30 million in a new round of funding from their existing investor, Tiger Global. The current round of funding comes within months after it raised Rs 64 crores in last round from Tiger Global and Accel India.
Track2Realty: Pride Group has launched its mega city township Pride World City (PWC) at Charholi, near Lohegaon airport, Pune. This integrated township is being developed on a sprawling 400 acres of land at one of the most promising real estate locations in the city.