Indian Property

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...

Real estate brokerarge company JLL India has released its retail real estate report at CII National Retail Summit 2017 in New Delhi. The report highlights the Indian retail sector’s growth potential in Tier 2 and 3 cities. In the report, JLL analyzes how mall withdrawals in Tier 1 cities have kept the vacancy levels stable. It has identified top 20 cities that will drive retail growth basis total retail stock, upcoming supply, retailer presence, retailer expansion plans and investments. Among the small towns and cities, Jaipur ranks 1st in total current retail stock, while Lucknow ranks 1st in upcoming retail supply. New Delhi, 1st December 2017: Leading international real estate consultants JLL India today released its latest retail report ‘Fuelling the Retail Revolution - The Paradigm of Emerging Cities’ in association with the CII National Retail Summit, 2017. In Delhi-NCR and Noida, commercial real estate projects such as Alphathum by Bhutani Group are already underway. Ple...

By Anuj Puri, Chairman & Country Head, JLL India Effective investment in residential property requires the chosen location to meet certain parameters. Fundamentally, the area should have good social infrastructure, availability of adequate public transport and sufficient economic activity to sustain development and growth. These parameters apply equally to investment in NA-certified land approved for residential development and flats in a residential project. In order to mitigate most of the investment risk, one should restrict one’s residential property investment to Tier 1 and select Tier 2 cities. It is also most prudent to invest in properties where the price tag falls between Rs. 2500-5000/sq.ft., since such a price tag provides downside protection against any capital value erosion. Simply put, the cost of construction and minimum cost of land literally makes this price segment safe, and almost guarantees capital appreciation. Further Guidelines...

By  Anuj Puri, Chairman & Country Head, JLL India: Even as sales velocity for mid-income and luxury housing in Bangalore fluctuates with macro-economic variations, the city’s affordable housing segment has been witnessing steady demand on the outskirts. Availability of large land parcels at lower price points and the rapid expansion of the city in all directions have encouraged real estate developments even in the outlying areas. Infrastructure developments such as the planned Metro Rail and Peripheral Ring Road also play a part in making these affordable emerging areas attractive and viable. During the first half of 2016, two significant market dynamics have been observed in Bangalore’s real estate market – an increase in new commercial launches, and a rise in the net absorption of commercial spaces. While the absorption levels are currently somewhat sluggish in the residential sector, commercial real estate is witnessing increased momentum with developers ...

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 ...