Track2Realty: According to recent CBRE report—How Global is the Business of Retail?—new trends identified in the global retail market saw retailers focusing on larger markets in 2013, with 83% of the survey cities witnessing at least one new entrant in the year (compared to 81% in 2012), while the top target markets saw a 28% rise in new entrants.
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: Buyers remained cautious but searched well for aspirational homes. Developers remained restrained but projects reached completion stages as all segments of the market prepared for a growth phase in Indian property market, aligned to the political optimism in India.
Track2Realty Exclusive: The real estate market has often been defined in terms of being either the buyers’ market or the sellers’ market. In most of the major markets across the country the bull phase of the economy led to the sellers’ market with demand outstripping the supply.
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: The biggest announcement for the real estate sector proposed by the newly elected Government in its Union Budget 2014–15 was the Securities and Exchange Board of India (SEBI) being directed to introduce Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts in India.
Track2Realty: Many developers are trying their best to create new zones and addresses across India that can appeal to HNI property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele.
Track2Realty: The expanding retail footprint of global brands in India has been a major growth driver of retail real estate in the country. In an effort to map and analyze the spread of international retailers, CBRE undertook a research study of more than 300 prominent global retailers—Expanding Horizons of Global Retailers in India—to identify operating trends, expansion strategies, and extent of penetration across leading cities.
Track2Realty Exclusive: Till very recently, unlike several other industries, real estate used to take a back seat in times of a sluggish market or when there was some controversy around. Any negative market sentiment or slowdown more often than not led to newspapers’ property supplements growing thinner and vacant hoardings in and around city becoming common. Prima facie it was seen to be a sales driven exercise where real estate companies’ approach has been to advertise for selling their product and not creating a brand icon. But that seems to be only half the truth in today’s context as the sector is doling out more money for advertising despite slowdown.