Under the UP Government’s scheme to develop sports-centric projects in the state, Supertech Limited has been allotted land to develop sports-centric development, Sports Village, in Knowledge Park, Greater Noida (West). The project is dedicated to the sports enthusiasts who want to learn sports while living there.
At about US$151 per sq. ft. per annum, Delhi’s Central Business District (CBD) of Connaught Place was ranked as the sixth most expensive prime office market in the world, according to CBRE Research’s semi-annual Global Prime Office Occupancy Costs survey.
Despite slowdown, Mumbai remains the most lucrative investment destination in India, says the second edition of Knight Frank India Residential Investment Advisory Report 2016.
In many ways, the year 2015 was a defining one for the residential real estate segment in India. This was the period when the market began to evolve, along with customer expectations as well as market dynamics.
The IT/ITeS sector has clearly been driving corporate real estate in the country; and consequently, much of the development in this space is being propelled by IT and back-office demand for workspaces, as per CBRE’s India report – Real Estate & Workplace Strategies of Shared Services Occupiers.
Despite of the high work pressure, unprofessional work culture & depressing environment, it has been the fat pay packet that was a magnet for the professionals to join real estate. However, the slowdown has exposed the professionals to a new reality check where job cuts are across the board, career growth is stagnant and it is increasingly getting depressive for the professionals to continue with a job in the sector.
Sobha Limited has launched its first commercial Project ‘Sobha City Mall’ at Puzhakkal in Thrissur, Kerala. Situated at the heart of ‘Sobha City’- the first and the largest integrated township in the State, ‘Sobha City Mall’ will offer best-in-class retail and entertainment experience for the customers.
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has launched Luminare Solaris, the next phase of its luxury residential project in Gurgaon, located at Sector 59, Golf Course Extension Road.
“How long can a sector survive which is borrowing at 48 per cent from private lenders to serve the interest of previous debt raised at much lower rate,” asks a banker. His concern is not without valid reasons. Developers experimented with all funding options but still many of them are now being forced to seek other sources of funding which not only comes at a significantly higher cost but also where the source of fund is unregulated.
No other residential micro market of India has arguably weathered as many challenges and controversies as Noida Extension. Its inception as a separate zone, other than Noida & Greater Noida, did lend credence to conspiracy theories against the farmers that culminated into land acquisition litigation. Since then it has been a sordid saga of project delivery uncertainties and homebuyers endless wait; not to speak of the additional charges levied as against the compensation amount hiked to the farmers.