Track2Realty: Positive market sentiments and a gradual global as well as domestic macro-economic recovery may finally be signaling the beginning of a revival in India’s corporate real estate segment. Various corporate firms, who had put their office space consolidation and expansion plans on hold over the previous couple of fiscals, finally began their transaction processes; and many concluded the same during the penultimate quarter of 2014.
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 Exclusive: The commercial property is looking forward to sunny days with the forecast of capital values across the commercial segment expected to rise in the next few quarters. The rental market has already started showing the renewed interest level of the occupiers. The widespread economic recovery and the stable government at centre with some of the positive announcements has revived the sentiments across the property market and the commercial property is the first to pick up in the Indian market before other segments also join the rally.
Track2Realty: Demand for housing across leading cities remained subdued in the first half of 2014. Owing to high pricing and lending rates, buyer preference remained focused on secondary and emerging markets of leading cities; while developers began to offer discounts to boost sales ahead of the festive season. This general slackness in housing sales has been primarily triggered off by the Affordability Index going down in certain cities; although home buyers have been investing in markets that they perceive to be offering value for the product, as well as the preferred location.
Track2Realty: The overall mall vacancy levels across the top eight India cities remained stagnant at 14.47% in Q2 2014, which was recorded around 0.4 percentage points lower compared to Q1 2014. Amongst the top eight cities, Pune witnessed sharpest decline of 2.5 percentage points due to healthy leasing activity and no new mall supply. These are the findings of Cushman & Wakefield latest report.
Track2Realty Exclusive: When Prahlad Patel went on a property hunt in the city of Vadodara, the broker had a curious look at his face. Under the impression that Patel is one among the many NRIs looking to invest in the city property with the fall in the Indian currency he thought it is his duty to narrate how the property market is just ripe to enter for sizeable return.
Track2Realty: The IT/ITeS sector continues to be a dominant growth driver for Bangalore, and some areas stand out from the rest as far as the impact of this sector is concerned. Whitefield in the eastern part of Bangalore is one such area. Whitefield was an early settlement in Bangalore and remained a quaint little suburb till the 2000s, when Bangalore’s IT boom reshaped Whitefield into a major suburb.
Track2Realty Exclusive: If ever you have not missed a flight out of Mumbai or got delayed to an appointment of lifetime in Mumbai due to traffic bottlenecks, you would probably not understand why India’s commercial capital has been waiting so eagerly for the metro train to roll out. But wait! There is more to just ease of traffic with the metro train in Mumbai becoming a reality.
Track2Realty: Real estate is a business that requires regular funding, be it at the acquisition or execution stage. To raise funds, developers in India opt for modes like joint venture, pre-sale and construction finance. Construction finance can work out cheaper but is difficult to obtain because of the strict guidelines laid down by the Reserve Bank of India.
Track2Realty: Over fifty percent of real estate buyers decisions are influenced by Internet research. The phenomenon, of researching online for real estate information is not limited to metros but also extended to buyers in tier II cities, as per the study of Google India. The study was conducted to understand the influence of Internet on real estate purchase decisions in India.