Indian Property

by A. Shankar, National Director & Head of Operations – Strategic Consulting, JLL India City Expects Investments Of INR 2,076 Crore; Sustainable Real Estate Growth Assured Kochi hits a six to become the next highly preferred real estate destination in India. All potential drivers such as IT development for employment generation, Metro rail for intra-city connectivity, the Smart City tag for basic infrastructure, port-based development for industry and commercial growth, airport terminal for international connectivity and foreign investment and tourism for the hospitality industry are emphasized in Kochi. This will ultimately boosts demand for housing and make it one of the next highly-preferred real estate destinations in India. The 6 reasons why this will happen shortly: 1)             Inclusion in the top 20 Smart Cities: Recently, the Ministry of Urban Development, Government of India identified the top 20 candidates under the Smart City mission initiative throu

By Ashwinder Raj Singh, CEO – Residential Services, JLL India The luxury segment in the Indian real estate sector is an ever-evolving one. Everything that money can buy is now being made available to buyers who want to live life king size. Sky villas are one of the latest developments on this front. The concept is not new, but borrowed from the more evolved western real estate markets. It has been around in the country for a few years now, and it has gained wide-spread acceptance in recent times. What Is A Sky Villa? Villas and penthouses have for long been marketed to HNI home buyers, but sky villas combine the benefits of both penthouses and villas - along with some additional unique features. Unlike a villa, which is basically a standalone bungalow or a penthouse which is just an apartment on the top-most floor of a high-rise, a sky villa is a humungous multi-level apartment which often covers 2-3 floors. It combines the luxuries of a sprawling bungalow with the advantag

by Anuj Puri, Chairman & Country Head, JLL India · China’s biggest developer Wanda signed an MoU with Haryana earlier this year; more developers from China and Japan are expected to follow suit ·  Large residential and industrial projects of particular interest Given the current prime minister’s focus on improving India’s stature amongst the global investment community, there has been a big change in India’s image as a business and economic hub. After 100% foreign direct investment (FDI) was allowed into the real estate industry, it was only a matter of time before foreign developers made big investment announcements. One of China’s most prominent developers, Dalian Wanda Group, signed a memorandum of understanding (MoU) earlier this year with the northern state of Haryana to develop ‘Wanda Industrial New City’. The investment of USD 10 billion, phased out over the next decade, is a very significant outlay by any Chinese company in India. Other Chinese developers are al

by Ashutosh Limaye – National Director, Research, JLL India Strong absorption trends in city a major catalyst; more projects expected to follow suit From a few quarters ago, corporate occupiers in India have been staring at a severe supply crunch of ‘right product-right place’ grade-A commercial realty. In such a scenario, a ray of hope is being provided by a few developers in Bengaluru, who have completed some of their office projects a couple of quarters prior to the original deadlines. This is most probably due to these developers taking note of the existing situation in the sector, especially on the back of strong pre-commitments and demand for office space. Three projects located along Lavelle Road and Sarjapur Road are partly operational and ready for fit-outs from 4Q15 beating their original completion schedule by 2-3 quarters. In the next few quarters, more under-construction projects are expected to follow suit as more developers could start aiming for faster completio

by Nirav Kothary, Head – Gujarat Operations & National Director – Industrial Services, JLL India  Gujarat is one of the most industrialised states in India, with a well-earned reputation of being very investor-friendly. The state has a proven track record for attracting high volumes of investment, becoming the most favoured investment destination in India on the back of its sound economic policies and pro-active governance. The Vibrant Gujarat Summit has acted as an effective catalyst for Gujarat’s journey of industry growth, and the 6th edition of Vibrant Gujarat in 2015 saw as many as 21,304 Investment Intentions signed.  The Gujarat Government is developing the only IFC (International Finance Centre) in Gujarat – GIFT City (Gujarat International Finance Tec-City) is an under-construction central business district to be built on 886 acres of land. Additionally, Dholera SIR, the Gujarat affordable housing mission, the Kalpsar Project, PCPIR, DMIC, DFC, High-Speed Rail

by Santhosh Kumar, CEO – Operations & International Director, JLL India For the last 3-4 years, residential real estate market has seen sluggish demand, which has caused the unsold inventory levels to go up in some of the key Indian geographies. Supply/demand mismatch in terms of price and configurations has been the main reason for the rise in inventory levels. From developers’ point of view, this has eventually resulted in: 1. Correction of prices in many markets in order to improve sales velocity of unsold products 2. Increased project launches with the right configurations to cater to existing demand Interestingly, 2016 had started on a sunny note. The residential real estate market, which had witnessed a slump in project launches in 2015, showed a visible comeback in the first quarter. There was a six-fold increase in launches of the affordable housing projects, as developers predicted greater demand in this highly price-sensitive segment. One way or the other, factor