Track2Realty Exclusive: It was only a few years back that when a couple of high-end luxury projects were launched in Pune analysts were busy with the cost-benefit analysis of the splurge in the market. The rising interest of NRIs, HNIs and even global realty baron soon made everyone realise that Pune has already made its presence on the luxury landscape of India.
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 Grade A commercial office market in the Delhi National Capital Region (NCR) attracted an increase in demand for office space, with rental values rising across select established micro-markets during the quarter ended June 2014.
Track2Realty: The tremendous rate of real estate development across the globe, and especially young, emerging nations, is imposing immense pressure on the environment and its natural resources. With such a rapid development, there is a lot at stake when we look at important factors such as energy availability and environmental sustainability.
Track2Realty: Pune’s Grade A commercial office real estate market has been increasingly attracting the attention of major office space occupiers as a second option to Mumbai, because of its freshly available quality space options, comparatively affordable rental rates, as well as its proximity and excellent connectivity with India’s financial capital.
Track2Realty: Omaxe Limited has launched Omaxe Royal Residency – a futuristic residential apartment in the proposed approx. 50 acres mixed land use development project Omaxe City Centre, Sector 79, Faridabad. Sector 79 in Faridabad has been earmarked by the Haryana Government as a Commercial Business District (CBD). Spread over approx. 450 acres, this is one of India’s largest CBDs.
Track2Realty: With the coming of the new government already having improved sentiments in the realty market, as a next step the sector expects India’s economic fundamentals to be tackled on a priority basis before any major changes may be anticipated at an industry-level. Infrastructure projects need to be implemented with a sense of urgency, and more income tax incentives for home loans have to be introduced before we can expect to see any significant impact on the real estate sector.
Track2Realty: Internationally, a building that reaches or exceeds the height of 150 metres is considered a skyscraper. Until recently, Mumbai was the only Indian city with high-rise buildings. The financial capital continues to see the highest demand for skyscrapers, as the only option to grow there is vertically. It now seems that in the coming decade, Maximum City will receive an even more cohesive skyline, with a host of projects in the race to touch the sky being constructed. The demand for high-rise buildings is certainly growing, and other cities are catching up.
Track2Realty Exclusive: Critics who had till very recently criticised the projection of Noida as a corporate city on the grounds that the city lacks commercial activity and an international airport may soon have reasons enough to eat their own words. Scaling up from just being an affordable destination the seemingly poor cousin of Delhi-NCR is today giving its superior peer markets a tough competition in its march to emerge as a landmark corporate hub.
Track2Realty: Following the slow market conditions of the last couple of quarters, Mumbai’s office market saw a slight spurt in market sentiments in the second quarter of 2014. The city’s overall real estate market is anticipated to fare better in the third quarter over the second quarter of the year.