Indian Property

By Shishir Baijal, Chairman and Managing Director, Knight Frank India Overview of Indian Real Estate sector in 2013:  Real Estate and infrastructure witnessed unprecedented growth in the last two decades. However, with growth comes the slack, and with the economies facing a slump in the past few years, no sector has been left unscathed Monetary tightening resulting from the Reserve Bank of India's measures to control inflation was the major macro influence on the real estate sector in India, through most part of the year. High interest rates, spiraling vacancy levels and lower margins arising from inflationary pressures too, led to a slowdown of construction activity leading to a drop in new launches, and also delayed project delivery by several months. Developers with exposure to residential projects are particularly worried, with slowing sales leading to a situation of oversupply in many parts of the country. Mumbai and Chennai , which are land-locked from one side by

Sanjay Dutt, Executive Managing Director, South Asia, Cushman & Wakefield Residential Real Estate 2014 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 a an impact on the end user sentiments that has impacted the absorption of residential units ultimately leading to a slowdown in the values.  The strong headwinds that the domestic economy has been facing since the last year due to structural issues like high fiscal and current account deficits, and delay in reforms are expected to remain until the general elections next year. As a result, the first half of the year may maintain status quo and improve thereafter in the second half.  The looming scenario of tapering of the US Fed's liquidity infusing Quantitative Easing programme in 2014 could result in investment outflows as was seen earlier this year and dictate the currency fluctuatio

By Pankaj Renjhen, Managing Director – Retail Services, Jones Lang LaSalle India.  Ambience Mall in Delhi (Source: Flickr ) Supply Scenario The Pan India mall stock for the top seven Indian cities - Bangalore, Chennai, Delhi, Kolkata, Hyderabad, Mumbai and Pune - is expected to increase from 76 million square feet in 2013 to 95.7 million square feet in 2015 . Among the seven cities, Delhi-NCR and Mumbai have been leading in terms having the highest concentration of shopping malls . As of now, Delhi and Mumbai together account for 62% of the Pan India mall stock . They are followed by Bangalore and Chennai, which together constitute around 20% of the pan India mall stock respectively. The net addition of shopping malls from 2013 to 2015 is expected to be around 24.9 million square feet. In 2010, the stock of shopping mall in India stood at around 53.3 million square feet; by the end of 2017, it is expected to reach 107.8 million square feet. In 2013, an estimated sup

Arvind Jain, Managing Director - Pride Group  Buyer paralysis - or, as it is popularly known these days, the 'wait-and-watch' syndrome - is one the main reasons today why aspiring home owners do not make their move. There are various reasons why people prefer to sit on the fence rather than in their dream home. Probably the most significant one is negative market messaging via various information channels. In India today, fence-sitting buyers are waiting for one of two things to happen - for property prices to come tumbling down, and for home loan interest rates to be brought so low as to become irresistible. Of these two factors, a correction in property prices would definitely be the stronger incentive. Obviously, a combination of both would be the most preferred scenario. There are also other reasons why people who long to own a home do not take the plunge. For instance, they may have become confused by conflicting objectives and are looking at the whole issue of ho

Astrum Alta Casa will be the Faridabad's tallest residential project to be developed jointly by Astrum Value Homes and SRC Group in Sector 49, Faridabad.  Fardidabad, India:  India’s pioneering FDI real estate firm Astrum Homes in partnership with SRC Group of Faridabad will soon announce the launch of world-class, high-rise residential development - Astrum Alta Casa in Sector 49, Faridabad. Alta Casa will become the tallest residential project in Faridabad. With every conceivable luxurious amenity, the residential project will be in a self-contained format. Towering over other constructions in the vicinity, Alta Casa will provide unhindered view of the natural beauty around. Strategically located and easily accessible from South Delhi and Gurgaon in just 20 minutes , Astrum Homes Alta Casa will present a grand view of the Aravali range in the horizon. Away from hustle- bustle of the city and surrounded by lush greenery, the planned project is in close proximity of al

Mumbai, December 16, 2013: While buying a house in Mumbai was never cheaper by any standards for an average middle class person, the present conditions in the city’s real estate market are more to worsen the scenario. Though property prices have always been steep and not shown any correction in the recent past forcing many to live on rent, more surprising this time are rising prices of renting a property in the city that would weigh down intentions of those who are considering renting as an option. A recent study by India’s first and the largest online personal finance advisor ArthaYantra in its second edition of ‘Buy Vs Rent Report, 2014’ revealed these observations. According to ArthaYantra Buy Vs Rent Score (ABRS) – that indicates whether it makes financial sense to buy a house or live on rent in a particular city – ranks Mumbai the lowest with a score of 55 amongst eight top Indian cities in terms of buying and renting. Both these options in this city are the most expensive

U.S. cities with a strong energy industry presence have experienced increasing employment and burgeoning housing demand. That means retail real estate is seeing some sparks fly.     When working as a real estate broker in the US, you should have a reliable locksmith partner. Your clients will need references for a locksmith. It can be tricky to find a reliable locksmith via Google search as locksmith Internet marketing and SEO don't always help in finding trustworthy company. Your clients will appreciate your help when you guide them to a professional locksmith. Also, you would need a locksmith when you want to make improvements to any property that you want to get ready for showings.

Risky business: Companies relocating or expanding their real estate portfolios in Asia Pacific are overlooking these seven construction risks New JLL report reveals where things can go wrong during real estate construction projects, and how these issues can be avoided SINGAPORE, 19 December, 2013 —   As companies across the world prepare to expand their presence in Asia’s emerging markets, a new report by Jones Lang LaSalle, ‘ Who’s Protecting Your Blindside ?’ highlights seven hidden risks associated with real estate construction projects. “While professional project management is well understood and accepted as critical to the success of real estate projects, the importance of construction management is often overlooked and frequently performed by a part-time supervisor rather than a professional construction manager,” said Dave Colverson , Regional Director, Construction Management for JLL in Asia Pacific. According to the report, many businesses expose themselv

Delhi-NCR continues its reign of being the largest office market in the country with an operational stock of 118 million sq. ft. Despite being an attractive office destination and having the highest office stock in the country, Delhi-NCR (National Capital Region) stands third behind Mumbai and Bengaluru in terms of yearly office space take ups. Mumbai and New Delhi, Dec 19, 2013: Knight Frank India today, launched its NCR office traction report focusing exclusively on the NCR market. The report talks about how the office market of a city with regard to new supply, vacancy trends, key tractions, industry wise absorption, micro-market split of absorption, rental trend and future outlook. Key Takeaways NCR office market exhibits strong traction despite economic uncertainties Office space take-up during the first nine months of 2013 has marginally exceeded those of the same period in 2012. Total absorption for the current year is likely to be in the range of 6.3-6.8 mn sq. ft

By Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India  In India, the concept of branded luxury homes is only two or three years old. Growth of this segment could be pegged at roughly 5-6% per annum, owing to the fact that it is a very exclusive niche category with a restricted number of buyers. The basic premise behind branded residences is that the developers of such projects tie up with international luxury hospitality or lifestyle brands to create unique and highly differentiated offerings. As in all new business segments, there was no specific pre-existing demand for such homes - the mind-set of the target audience first needs to be primed to create demand, as supply will only follow demand. This process is happening with a fair degree of success in cities like Mumbai, Pune and Delhi NCR. Branded luxury homes bring various advantages beyond a designer label and location with them. They boast of professionally designed interiors and exteriors, highly evolved,

By Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India Residential Real Estate 2013 Review Lack Of Confidence Reduced Investor Interest, But Empowered End Users The year 2013 was a drag for the Indian economy with poor macroeconomic conditions. Slowing income growth, sustained weakness in the rupee, sky-rocketing inflation and high borrowing rates combined to make consumers vary of spending. This reflected visibly in the Indian consumer confidence index, which has been falling consistently over the last three quarters. Housing absorption statistics the first three quarters of 2013 also reflect this trend in consumer sentiment - from a largely positive QoQ growth to largely negative growth as of 3Q13. Despite this, residential property prices continued to exhibit upward movement even as the weakening rupee steadily eroded purchasing power. Over the last four years (from the trough of 2Q09 up to 3Q13), taking into account the period of economic slowdown, apa