Leasing activity in the Delhi NCR office market picked up pace in Q4 2013: CBRE
Track2Realty: Prime office space absorption in the Delhi National Capital…
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UN Global Compact and RICS join hands to develop responsible business best practice toolkit
Track2Realty: To improve responsible business practices in the land, real estate and construction industry, the United Nations Global Compact and RICS (Royal Institution of Chartered Surveyors) will jointly develop a best practice toolkit for the sector. The collaboration marks the UN Global Compact’s first initiative to address corporate sustainability in a specific sector following the recent launch of its Post-2015 Business Engagement Architecture.
Gujarat realty on eve of elections
Track2Realty Exclusive: If regulatory changes have been a cause of concern for the developers in the Gujarat real estate market, the political uncertainty prior to the general elections definitely threatens to prolong the slump in the realty market. Elections and real estate have a symbiotic relationship where elections bring a kind of stasis that is unproductive.
Residential market expected to witness healthy activity in 2014
Track2Realty: The slowdown in the Indian economy continued as the Reserve Bank of India revised the real GDP growth rate forecast for 2013-14 downwards to 5.0% from 5.7%. Economic slowdown has had an impact on the end user sentiments that has impacted the absorption of residential units ultimately leading to a slowdown in the values.
Reasonable performance of Coimbatore real estate in 2013; 2014 looks promising
Track2Realty Exclusive: The Coimbatore real estate has by and large outperformed the rest of the country. This better-than-national average performance during the year 2013 has been remarkable at a time when some of the matured property markets were witness to sales plummeting with stress both at the buyers’ as well as developers’ level.
2013 a turbulent year for the economy
Track2Realty: 2013 was one of much economic turbulence. High retail inflation, high interest rates and a continuous fall in the rupee value, have been slowing the overall growth and have continuously hindered the investment sentiment in the market during the entire 2013.
Challenges galore in smart realty branding-IV
Track2Realty Exclusive: A great challenge in real estate branding is the local versus national market. 90 per cent of the realty brands have local presence and not pan India. Most of the projects are linked locally like Prestige with Bangalore or DLF with Gurgaon.
New Delhi’s Connaught Place is 7th most expensive office market in the world: CBRE
Track2Realty: India continued to feature on the list of the world’s most expensive office markets, with New Delhi (Connaught Place – CBD) ranking at the 7th position, according to CBRE Global Research and Consulting’s semi-annual Prime Office Occupancy Costs survey. Mumbai’s Bandra Kurla Complex (BKC) bagged the 15th position, while Nariman Point stood at the 32nd position. The latest CBRE survey provides data on office rents and occupancy costs as of September 2013.
Net office absorption declines by over 25% IN 2013: Cushman & Wakefield
Track2Realty: Total net office space absorption recorded a 25% decline in across top eight cities over last year. According to the annual year end estimations by Cushman & Wakefield the total net absorption for 2013 was recorded at 23 million square feet (msf). Most cities have witnessed a decline in net absorption in the range of 20-40% during the year, except Pune where incremental new space take-up increased by 15% in 2013.
NRIs bring Ahmedabad on the luxury map of India
Track2Realty Exclusive: Gurgaon, Mumbai, Pune…wait India has just discovered yet another claimant as the ‘Luxury Capital’. The City of Ahmedabad known more for its cost conscious living and affordable housing has been witness to the city’s slow but steady rise to the luxury living with developers’ focus shifting on luxury projects, buyers’ looking up to scale their living and luxury brands flocking to the city.