Search Results: tier I and II cities (227)

Reports CBRE CII Report, Bengaluru Office Market, Bengaluru Office Demand, Bengaluru Office Supply, Bengaluru Office Absorption, Bengaluru Office Vacancy, Bengaluru High Street, Bengaluru Retail Space, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Real Estate News Website, Best Property Portal, Real Estate Journalist

Bengaluru office stock set to touch 330-340 mn. sq. ft. by 2030, highest in India: CBRE CII Report

The report also highlights that Bengaluru has cemented its status as the leader for global capability centres (GCCs), commanding a 41% share in India’s GCC leasing market (from 2022 to Jun’24). Bengaluru’s GCC growth is driven by a combination of factors, including a skilled talent pool, premium Grade-A assets, and a well-developed IT ecosystem. The city’s ease of doing business also contributes significantly, making it an attractive destination for GCCs. Additionally, the scope of scalability in both assets and talent resources further reinforces Bengaluru’s position as a leading commercial hub.

Reports Demand Up, CREDAI Sentiment Survey, Colliers Sentiment Survey, Investment in Real Estate, Demand in Real Estate, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Real Estate News Website, Best Property Portal, Real Estate News India

More than 50% of developers seek tax rationalization and lower interest rates from new government: CREDAI Sentiment Survey ’24

53% of the developers saw a rise in buyer enquiries and engagement in 2023 compared to 2022. About half of the surveyed developers feel that residential demand would remain stable in 2024. Developers confident of an upward trajectory of housing prices in 2024. Nearly two-thirds of developers are willing to explore alternate segments like plotted developments, branded residences etc. within housing.

Reports Flexi Office Space, Office Space in India, Flexi Office Space Demand in India, Flexi Office Space Design, Flexi Office Space Cost, CBRE South Asia, Anshuman Magazine, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market News, Best Property News Portal, Best Real Estate News Website, Real Estate Journalists

58% of companies to expand flexible office space portfolio by 2026: CBRE Survey

The survey showed a trend towards diversification in the office sector, with a preference for expanding portfolios across multiple cities. This trend is driven by factors like a skilled workforce, improving infrastructure, cost-effectiveness, government support, and the benefits of exploring new geographies. Apart from the major cities like Bangalore, Hyderabad, NCR, and Mumbai, occupiers are particularly interested in expanding in Chennai and Pune. India’s strong economic growth is fueling investments across various sectors, leading to increased demand for diverse office space requirements. While gateway cities continue to see growth in office space demand, Pune and Chennai are witnessing a surge in both office leasing activity and new office space supply.

Case Studies

Tier-II cities closing the gap with Top-8 as property prices surge by 10-15%

Soaring economic activity, infrastructure development, and reverse migration are driving double-digit property price appreciation in emerging urban centers of Tier-II cities, says “The Bharat India Report” by Housing.com. Housing.com, has released its inaugural “The Bharat in India” report that highlights remarkable growth trends in Tier-II city real estate markets across the country. It highlights how these once overlooked urban centers are rapidly closing the gap with their Tier-I counterparts. This growth is fuelled by economic diversification, rising consumer demand, and reverse migration patterns accelerated by the pandemic.

Reports High Street, Malls, Retail Real Estate, Luxury Real Estate, CBRE South Asia, PHD Chamber of Commerce and Industries, Anshuman Magazine, Best Real Estate Website, India Real Estate News, Indian Realty News, Real Estate News India, Indian Property Market

High Streets emerged as the top leasing choice for luxury brands in 2023, recording over 100% Y-o-Y growth

The overall leasing by luxury brands across the formats stood at 0.6 mn. sq. ft. in 2023, at almost 170% Y-o-Y growth. While High Streets constituted a 45% share in the overall luxury retail leasing in 2023, luxury brands’ stores in Malls followed at 40% and standalone stores accounted for the remaining 15%. This surge in leasing has been accompanied by the entry and expansion of various international luxury fashion, watch and jewellery brands across different locations. The eight cities tracked for leasing include Delhi-NCR, Mumbai, Bangalore, Kolkata, Pune, Ahmedabad, Chennai, and Hyderabad. 

Commercial Demand Drivers of Commercial Real Estate, Commercial Real Estate, Commercial Property Market, Retail Spaces, Office Spaces, Commercial Property Investments

Emerging demand drivers of commercial real estate

Real estate in general and its future growth in particular is defined by its demand drivers. It is relatively easier to forecast the demand drivers in the residential sector. Reason being that the economic activities indicate the migration of the workforce and hence inherent need for housing. However, to forecast the emerging economic activity, both sector wise and region wise, is more often than not guesstimate, finds Track2Realty.

Headlines Construction Labour, Labour Shortage, Labour Migration, Reverse Migration, Indian Real Estate, Indian Property Market

Reverse Migration: Tier II & III city property gaining by default

What is icing on the cake for the developers in these smaller towns now is the fact that they are getting the labour force at a much lower cost. Explaining this trend, Sandeep Agrawal, a property broker in Patna says that the labours were getting their daily wages in the Delhi NCR region in the range of INR 350-500, depending upon the project. But now they are more than willing to work at INR 250 in places like Patna, Kanpur, Kochi etc where they are stationed in proximity to their home towns and the cost of living is much lesser, compared to the metro cities. 

Headlines Real Estate in 2021, Real Estate in Tier II & III Cities, Property Market in Covid Times, Price Crash After Covid, Work From Home, Holiday Homes After Corona

Will Covid-hit 2021 lead real estate into Tier II cities?

The cost of doing business per square feet has always been challenging in the top 10 cities of India. The ever increasing migration for jobs in these cities have made the housing affordability even bigger challenge. Critics are not cynical when they question as to what extent and till when these cities will continue to be filled up like a soda bottle. Aren’t our metro cities on the verge of a population blast? Come 2021 and Track2Realty analysis believes the infamous Coronavirus in a strange way has shown the way forward.

Editorial Sanya Seren, Warren Buffet, Berkshire Hathway HomeServices, Orenda India, Property Brokerage, Property Agents, IPC

Huge scope across Indian Tier-II & III cities: Sanya Aeren, Chief Advisor, Berkshire Hathway HomeServices & Orenda India

Berkshire Hathway HomeServices, the real estate brokerage arm of global investor Warren Buffet has entered into the Indian market through its tie-up with Orenda India. Sanya Aeren, its Chief Advisor-Marketing & Communication, says the global best practices of Berkshire and the huge untapped opportunities in the Indian market would position this alliance into the top league. In an Exclusive Interview with Ravi Sinha, she spells out her plans to organize the property brokerage, penetrate deep into the market and also give a new experience to the investors. Excerpts of the interview:

Policy Union Budget, Budget and Real Estate, Property Market and Budget, Housing and Budget

Union Budget, home buyers and need for policies beyond rhetoric

Budget after budget the industry voices across the built environment of the Indian real estate echo the causes & concerns of the supply side – builders. On the eve of the Union Budget 2021-22, it is imperative to address the issues that affect the demand side – buyers. Failing to address the buyers issues, would be detrimental to the revival of the sector which, in turn, is critically linked to the revival of the economy at large.

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