
CBDs losing sheen to PBDs
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.
Central Business Districts (CBDs) are supposed to be the lifeline of the city and a mirror of the economic activity and real estate market trend.
Real estate markets are inherently vulnerable to prolonged periods where prices deviate from their fundamental value. The features that contribute to this deviation are imperfect information, suboptimal financial markets and supply rigidities. Imperfect information causes buyers to either overestimate or underestimate the fundamental value of real estate assets.
Jones Lang LaSalle, in conjunction with Blake Dawson, has produced its first Asia Pacific Property Investment Guide. Asia Pacific has a wide range of real estate markets – each with distinctive rules for investors. The guide covers important issues that investors need to consider when investing in real estate around the region.
Puravankara Limited has launched a residential project, Purva Atmosphere, in Keshav Nagar, Pune. Spread across 10 acres with 70% open spaces, Purva Atmosphere features two 30-story towers offering 240 units of 2 BHKs and 180 units of spacious 3 BHK apartments. Designed to ensure ample natural light, ventilation, and Vastu compliance, these residences offer the perfect blend of comfort and functionality.
Average housing prices across the top eight markets in India rose 11% YoY at INR 11,000 per sq ft during Q3 2024, led by sturdy demand and positive market sentiments. Interestingly, average housing prices have increased for the 15th consecutive quarter since 2021. All the eight major cities saw an annual increase in housing prices with Delhi NCR witnessing the highest rise at 32% YoY, followed by Bengaluru at 24% YoY rise during the quarter. After registering record high sales over the last two years, the demand momentum across the top cities is stabilizing. Nevertheless, with anticipation of healthy residential activity in the last quarter, 2024 is likely to end on a strong note.
Is RERA a rating agency? Does real estate regulation & promotion all about promotion, especially when RERA has not been a success story to regulate arguably India’s most dirty business. The question arises because in a couple of States the RERA had earlier announced to rate & grade the developers with much fanfare. It is a different matter that Track2Realty had questioned it since beginning as to whether RERA has stood up to the cause for which it was enacted. Whether SEBI or IRDA rates the companies which it monitors as the regulators?
The report further observed that growing interest in under-construction (UC) properties has resulted in a capital appreciation of 11% QoQ across the tracked cities, with significant growth seen in Thane (19.5% QoQ), Gurugram (17.3% QoQ) and Noida (14.5% QoQ). Additionally, the report indicated that demand for 3BHK units continues to dominate, accounting for 50% or more of total demand in most cities, except for Chennai, Navi Mumbai, and Thane, where 2BHK units remain the preferred choice.
The office sector was the most sought after in terms of investment activity in APAC in the first half of 2024, followed by industrial sector. In India too, investments in industrial & warehousing and office assets remained strong in the first half of the year. Investments in Industrial assets especially, were 5X times, compared to same period last year. Amidst rising demand for superior quality Grade A assets and evolving supply-chain models, global investor confidence in the sector is improving significantly.
This strategic growth is expected to be driven by a focus on innovation as these companies seek to enhance their technological capabilities and market presence. Moreover, emerging technologies are projected to generate approximately 4.7 million tech jobs over the next five years across diverse sectors, including manufacturing, retail, education, finance, and insurance. This surge in job creation underscores the growing importance of technology across industries and highlights the need for a skilled workforce to meet the evolving demands of the digital economy.
World Villas brings Scottish-themed architecture to Navi Mumbai, surrounded by natural forest trails and a scenic riverfront. The development boasts exclusive amenities, including the prestigious Club 10 Gymkhana which is inspired by renowned institutions like Bombay Gymkhana and MCA. This exclusive 50-foot tall gymkhana spans 2,00,000 square feet, spread over an expanse of 10 acres. It also features the grand ‘Hall of Fame’ arrival lobby which is 4000 square feet. This exclusive membership club features state-of-the-art facilities, including an IPL-size cricket ground, complemented by a private forest area with walking trails and tree houses. Inspired by the iconic Lord’s and the Oval, the IPL-size cricket ground at World Villas is also home to the expansive Veranda restaurant, a training academy, and a sports shop.