Currently, there is 4.0 million sq ft of operational Grade A office stock and an additional 5.7 million sq ft of new supply scheduled through 2021. As per Colliers Research, occupiers are considering North Bengaluru for expansion and consolidation as infrastructure improves in the area and supply becomes available.
Construction consultancy firm, Linesight has opened offices in Mumbai. Linesight intends to focus on Mumbai, Pune, Bangalore and the Hyderabad metro cities of India as part of its expansion plans in the region.
This is a major push to the housing sector as aspiring home buyers now have a wider range of options to choose from. Additionally, developers would be enthused enough to commit towards offering more residential options in the affordable category.
PEL had previously announced a strategic co-investment fund with Ivanhoé Cambridge, to provide long term equity capital to blue chip residential developers across the five major metro cities in India (Mumbai, Bengaluru, NCR, Pune and Chennai). Ivanhoé Cambridge had allocated an initial US$ 250 Mn towards this fund.
There is no restriction on the number of properties that NRIs can own in India. However, NRIs obviously need to make informed decisions on such acquisitions. The most important consideration is that of whether the property purchase is for their own or their family’s actual use, or as an investment for rental income and potential capital appreciation.
Bottom Line: Come budget and all discussions and debates around…
The listing of India’s first REIT by Blackstone-backed Embassy Group has been in the offing for quite some time, but it now finally appears that it will be listed within the first half of 2019. As REITs await their official deployment in India, investors hoping to cash on this new avenue for generous ROI growth seek to understand what exactly is in store for them – and for the real estate market.
The Shapoorji Pallonji Group has announced its entry into National Capital Region (NCR) with the launch of its first residential project under the aspirational housing brand ‘Joyville’ in Gurugram (Sector 102). This is the fourth project under Joyville brand following Kolkata, Virar and Pune, respectively.
While 2018 lived up to a fair number of expectations, there were a few misses too, particularly in the case of clarity on GST norms. Key highlights of 2018 were the creation of positive sentiments in the market by way of a robust office space absorption by emerging segments, as well as increase in the number of new launches and sales in the affordable housing sector.
With high expectations from 2018, it was anticipated that the teething problems around policy initiative introduced in 2017 (RERA and GST) would ease out by the end of the year, bringing a new order of transparency and efficiency.