Indian Property

Adani Realty and RC Group are coming with a new residential project - Linkbay Residences (Codename Westbay) - in the Mumbai real estate market. The luxury residential development has sold over Rs 1,000 crore worth of apartments in just 30 days.    Linkbay Residences (Codename Westbay) is a sought-after location in Andheri (West), offering modern architectural sensibilities, world-class amenities, and smart 3-4bed residences, all within a gated residential campus. The project has a grand 1 lakh-plus sq. ft. lobby, an infinity edge pool, a terrace walkway, a fitness centre with a steam room, and a massive sports arena on the podium. Selling luxury properties can be challenging due to the high price point, fewer potential buyers, and an arduously long selling process. Adani Realty and RC Group invested ample time in redesigning their traditional sales pitch and revamped their distribution strategy. Soft-skills training for sales-teams ensured zero customer complaints. However, th...

India offers great opportunities with its booming economy. The charm of a growing economy is much stronger than the appeal of foreign shores for residence. Indian metro cities now offer a global lifestyle. In Mumbai, one area that has become increasingly popular is the Kalyan-Dombivli region, thanks to its proximity to the city and well-developed social infrastructure. The planned metro and road networks will further boost its accessibility. Top property developers are coming up with residential real estate projects in the region that offer spacious homes, world-class infrastructure, and amenities. One such example is Palava City by Lodha , a truly planned city that offers a modern lifestyle with a strong sense of community and holistic well-being. Located about 20 minutes from Dombivli Station, Palava City is designed to be in harmony with nature. With over 60% of the city dedicated to open and green spaces, the atmosphere is healthier for its citizens, with lush green parks reminisce...

Mumbai, March 28, 2018: Piramal Realty (PRL), the real estate development arm of Piramal Group, has announced the launch of Piramal Mahalaxmi, its flagship project in South Mumbai. The development takes on the name of the locality, Mahalaxmi, which is one of Mumbai’s most desirable and sought-after addresses. The quintessential offering of this project is the coveted Lifetime Views of the 225 acre Mahalaxmi Racecourse, uninterrupted views of the Arabian Sea on the horizon, Willingdon Golf Course and the expansive Mumbai Harbour. With over 2 million square feet of development, this project is set to be one of the largest premium residential developments in South Mumbai. Piramal Realty will invest INR 2600 crores in this marquee development. Anand Piramal, Executive Director, Piramal Group and Founder, Piramal Realty, said, “Piramal Mahalaxmi is the perfect fusion of rich culture and a cosmopolitan heart. Through this development, we intend to continue setting new benchmarks in the r...

By Ashwinder Raj Singh, CEO - Residential Services, JLL India All indicators are towards a convincing revival by the end of the year India’s residential property market has been going through turbulent times for past few years. However, things are looking up now with changes in the economy and various initiatives announced by the Government. To understand how various market forces have been making an impact, it is essential to look at the overall economic scenario in the country. Economic Performance: ·         FY 2015-16 saw Indian economy become the fastest-growing in the world with a GDP growth of 7.6%. This, despite adverse global economic circumstances that put a lot of pressure on earnings, exports and overall development. ·         The Government was able to contain the fiscal deficit to the budgetary target of 3.9%, and is working on lowering it further to 3.5% in FY 2016-1...

Mumbai, 21 January 2016: International property consulting firm JLL India has partnered with RICS to publish its latest real estate research report on Capital Market trends in the Indian Real Estate sector. The report 'Peering into 2016: Taking Pulse of Investor Preferences' tunes in to the voice of the investor community to gauge the investment patterns and key investment themes in the Indian real estate for 2016. According to Ramesh Nair, COO & International Director, JLL India: "Private Equity capital has been instrumental in propelling the real estate boom in India, but it is a sector where banking finance has had its own restrictions to cope with. After a relatively muted CY 2013 and CY 2014, PE investors increased their bets into the Indian real estate sector significantly in CY 2015. This report examines the motivations and expectations of PE funds who are now actively ramping up their exposure into this sector." JLL carried out a survey of ...

By Anuj Puri, Chairman and Country Head at JLL India JLL Research’s latest report ‘Is Indian Real Estate Heading Towards A Tectonic Shift?’ examines the transitions that India’s real estate has undergone over the past decade. Among the major trends is how developers have been decreasing apartment sizes to suit affordability of buyers. Builders are exploring innovative ways to make residential housing across major cities more appealing to potential buyers at a time when it is increasingly becoming difficult to sell expensive apartments. Around the country, builders are emulating the famous sachet marketing strategy adopted by FMCG companies in the late 1990s. Unable to sell expensive homes in a sluggish market, builders across India are making smaller apartments without lowering the price per square feet and compromising on the quality of product. In the last five years, average apartment sizes falling across all major cities of India. The following chart shows the varying degree...

By  Ramesh Nair, COO - Business & International Director, JLL India Yes, it is possible to negotiate with residential property developers. As home sales continue to look sluggish in many parts of the country, developers are becoming more open to a bit of creativity on their stated terms. How can you, as a buyer, put your best foot forward at the negotiation table? Above everything else, the Scout's Motto holds true - Be Prepared. You should be conversant with comparable sales in the project’s vicinity, and know how long it has been on the market. It is important to establish what the launch rates were, how they have moved since then and what the current demand for flats like yours is in the stated locality. You should also find out by word of mouth how much the developer is willing to negotiate. Typically, developers make decisions on pricing based on how a particular project is performing, as well as on how they are faring in general. If you are in...

By Ashwinder Raj Singh, CEO – Residential Services, JLL India The southern neighborhoods of India’s primary cities have always been the poshest, going by the historical evidence. Quite an interesting thing to note, but it stands true nonetheless. These have been most desirable locations for high networth individual home buyers. Such localities have housed the Who’s Who of the city in the past. This phenomenon still continues. However, over time, other areas are competing with these legacy locations and attracting the younger nouveau riche. Most metro cities are seeing the change in preference for location among the affluent class. Extremely limited new supply of residences in prime neighborhoods is the most influencing reason of for HNIs looking at other areas for luxury homes. Considering all aspects, JLL has identified twenty submarkets as the preferred upmarket residential hotspots across the top cities in India. According to JLL India's assessment, these locations of...

August 20, 2014:   ASSOCHAM and NAREDCO today signed a Memorandum of Understanding to align strategic efforts under the aegis of the Ministry of Housing &Urban Poverty Alleviation, Government of India, to ensure a home for every Indian by 2022. Sunil Mantri, President NAREDCO and Chairman, Mantri Realty with Rana Kapoor, President, ASSOCHAM and MD&CEO, YES BANK The MoU and Charter were jointly unveiled by Mr. Rana Kapoor, President, ASSOCHAM and MD & CEO, YES BANK, along with Sunil Mantri, President, NAREDCO , at the NAREDCO Real Estate Banking Conclave in the presence of  Shri G.S. Sandhu, Secretary, Ministry of Finance, Govt. of India and Mr. S.S. Mundra, Deputy Governor, Reserve Bank of India. Speaking on the occasion Rana Kapoor, President, ASSOCHAM and MD & CEO, YES BANK said: “This MoU between NAREDCO and ASSOCHAM will empower both organisations to strategically align efforts by championing knowledge initiatives and strategic inte...

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...

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 ...

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...