Indian Property

By Rohan Sharma, Senior Manager – Research & REIS, JLL India Circle rate is the minimum value at which the sale or transfer of a plot, built-up house, apartment or a commercial property can take place. Market price is the value of such an asset for a transaction between a seller and buyer which is done at an arm length’s principle - with the price determined by the market forces of supply and demand. Circle rates are usually defined by the local state government’s revenue departments or the local development authorities, in line with what they perceive the prices at which property sale or transfer should be undertaken. As such, circle rate is usually a determinant or a reference rate at best. Market rates, on the other hand, are determined by the seller’s expectation of price and the buyer’s inclination to pay. Across all property markets in India, the circle rates are invariably much lower than the actual market rates. This is because: · Circle rates are not reviewe...

By Monesh Bhojwani, Head - JLL Retail Asset Management, Amanora Town Centre (Pune) Image via  Flickr Since the beginning of India’s mall explosion in 1999, fashion retail has been on the forefront of the revolution. When it comes to the overall corpus of retail space transaction happening in the country today, this segment is definitely a leading and highly influential stakeholder. Indians trace back their awareness of and appreciation for international apparel brands to the country’s Colonial times. Today, fashion retail in India is highly competitive and there has been an avalanche of global fashion brands making an entry into the Indian marketplace. Needless to say, the increasingly aspirational Indian shopper community welcomes each new signpost and milestone on the road to organized fashion retail. There is no doubt that cutting-edge fashion will always enjoy a place of honour and high potential in India. The positioning of fashion retail outlets such as shoes ...