Track2Realty: Vatika Group has tied-up with PVR to open and operate 26 multiplex screens in three of Vatika Group’s townships – Vatika India Next (250 hectares), Vatika Infotech City and Vatika City Central in Gurgaon, Jaipur and Ambala respectively.
Track2Realty: SPR & RG Constructions have launched their flagship green-community project at Porur, adjacent to Sri Ramachandra Medical College. The project is conceptualised as a platform for all green lovers to congregate and live together as a community, in harmony with nature. Osian Chlorophyll claims to be a landmark residential project for Chennai, even as it raises the bar on green-consciousness and becomes a torchbearer for other builders to engage in a richer dialogue with our environment.
Track2Realty Exclusive: Sales model in commercial office spaces that was only recently seen as an indicator of distress on part of the developers has, of late, turned out to be a smart business model by the MNCs. These multinational companies seem to have confidence in the Indian growth story and with long term plan they are investing into the purchase of these properties. Track2Realty Focus 2015 finds that it is not a distress sale of developers since the capital values and rental yields have both appreciated sharply in the last three years despite of impending slowdown. The shift of these commercial spaces beyond the IT/ITeS is the most significant trend.
Track2Realty Exclusive: Perhaps no other segment of Indian real estate would have taken as much beating as the retail one. With consumerism down due to overall slowdown in the economy, e-commerce emerging big to challenge the malls and the high streets back with innovations, it seems the mall developers had abosiltely no idea as to how to deal with the emerging market realities. Track2Realty Focus 2015 takes a look at how the promising retail in India could not benefit retail realty in its performance.
Track2Realty: As e-commerce attains new heights and presents a number of opportunities for the real estate sector in general—and the warehousing segment in particular—CBRE recommends strategies for landlords and e-retailers for attaining a win-win scenario.
Track2Realty: India’s retail market value was estimated at $520 billion in 2013, and is expected to grow to $950 billion by 2018. With a CAGR currently pegged at 13%, the Indian e-commerce market is expected to grow the fastest within the Asia-Pacific Region – with its market size doubling every 2-2.5 years. This certainly gives us reason for deep introspection. While the global growth rate of online shoppers is estimated at 8-10%, India currently has more than 10 million online shoppers.
Track2Realty: New residential unit launches across top eight cities declined by 12% y-o-y in 2014 with total launch of 153,000 units. The top three cities of Bengaluru (27%), NCR (17%) and Mumbai (16%) comprised of 60% of the total new launches in 2014, says a report by Cushman & Wakefield.
Track2Realty: Mumbai, the financial capital of India, continued its office expansion and reflected occupiers’ confidence during the year 2014. Followed by 10% in Q3, the take-up figures of office space for this city grew at 29% q-o-q (absolute terms) from 1.1 million sq. ft in Q3 to 1.42 million sq ft in Q4 2014. The office rentals stayed steady during second half of the year and experts predict a similar spectacle over the next few quarters in 2015.
Track2Realty: Almost 25% of the total warehousing/logistics space uptake across the country in 2014 was by e-retail players, while the uptake of logistics space rose by more than seven times over that of 2013. India’s online retail sector saw exponential growth, as a number of local market-specific services—such as cash on delivery (COD), multiple payment options, and EMI options—assisted in developing the growth curve of e-commerce in the country—according to the findings of CBRE’s latest special report, India Online Retail Driving Realty.
Track2Realty: Housing sales across India’s seven leading cities declined by approximately 30% on an annual basis by the end of 2014—according to the latest CBRE report, India Residential Market View – H2 2014. The general decline in the housing market was particularly steep in the Delhi National Capital Region (NCR), signaling the need for property prices to get rationalized in tune with average per capita income rates of home buyers.