Office space demand to grow by 7% in 2014: DTZ

Date : Mar 23, 2014

NEW DELHI: Office space absorption is likely to rise 7 per cent this year to 29 million sq ft in India's 7 major cities as corporates look at expanding businesses, says global real estate consultant DTZ.  Absorption was 27 million sq ft last year in the seven cities -- Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad and Kolkata.  In its report on India office Demand and Trends, DTZ also projected that office rentals would remain stable in most markets in the first half of 2014 and rents would start rising from the second half.  "Most corporates are expected to firm up plans for expansion in the next few months with the overall take-up forecast to grow in 2014, especially in t

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India Lighting Fixture Market Forecast & Opportunities, 2018

Date : Mar 22, 2014

The real estate and infrastructure developments in India have recorded a growth of over 10% during the last five years on the backdrop of increasing residential and commercial projects across various tier 1 and tier 2 cities. With the growing middle income population and large government investments in rural electrification programs such as RGGVY (Rajeev Gandhi Grameen Vidyutikaran Yojana) and R-APDRP (Restructured Accelerated Power Development and Reforms Programme) are expected to drive the lighting fixtures market in India. The electricity penetration was recorded around 60% in 2012 which is considered extremely low when compared with other emerging economies or developed nations. This low penetration along with ri

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More bet on real estate than stocks

Date : Mar 15, 2014

KUALA LUMPUR: Thirty-eight percent of Malaysian respondents of the Franklin Templeton Global Investor Sentiment Survey (GISS) expect real estate to be the best performer this year while 15% chose stocks. This was consistent with respondents in China, India and Australia who all ranked stocks after real estate to be the best performer in 2014. “There was a rise in confidence in stocks as an asset class compared with last year’s GISS survey. This shift could be due to the positive global economic outlook that is on a recovery path primarily driven by the United States. “Many believe this recovery will eventually have a spillover effect to the exporting nations in Asia as well as Malaysia.”

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Bangalore Residential Property Review & Outlook 2014

Date : Mar 14, 2014

New Delhi: Bangalore has been the fastest growing city of India over the past few decades. Information Technology has been the major growth driver responsible for aggressive real estate development of the city. Being the IT Hub of India, Bangalore has a multi-cultural population, good social infrastructure, excellent educational institutes and an improving physical infrastructure. Currently, the most promising residential micro-markets are Outer Ring Road (ORR), Sarjapur Road, Whitefield and North Bangalore. Bangalore is also the third-largest real estate investment hub for High Net worth Individuals (HNIs) and tops the list in terms of investments from Non Resident Indians (NRIs) looking at settling down in India in the future

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Homi Bhabha's Malabar Hill bungalow going for Rs257 cr

Date : Mar 13, 2014

Mumbai is likely to see a big-ticket real estate deal around the middle of this year, with the bungalow in which India's pioneering nuclear scientist Dr Homi Bhabha lived having been put on the block. Meherangir, the bungalow in which the Bhabhas, including Homi's brother and estate executor Dr Jamshed Bhabha lived, is located in one of the city's poshest areas on Malabar Hill, overlooking the Hanging Gardens. It sprawls over 17,143 sq ft, with a built-up area of around 13,953 sq ft. Jamshed Bhabha had willed the property to the National Centre for Performing Arts (NCPA), which he had helped set up along with JRD Tata. Now, the NCPA – which already sits on one of India's most expensive real estate at th

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Rajasthan Inc joins hands with EC to woo voters

Date : Mar 11, 2014

JAIPUR: The real estate developers and industrialists have joined hands with the Election Commission (EC) to increase voter turnout in the forthcoming Lok Sabha Election. They will display messages urging voters to cast their ballot in their promotional and advertising material. Ashok Jain, chief electoral officer (CEO), Rajasthan had sought help from the corporate houses in raising awareness for voting. During the meeting with developers and industrialists, Jain asserted that record turnout in the assembly polls was a combined effort of EC and other stakeholders. "We are targeting for record turnout of voters in coming General election. To increase the voting percentage, it is necessary that youngsters, women and urb

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Hyderabad property market offers ‘rich dividends’

Date : Mar 8, 2014

Now the final steps are being taken to form the new Indian state of Telangana, there are new opportunities in Hyderabad’s real estate sector, says Trivita Roy, from Jones Lang LaSalle A leading Indian real estate professional says now the decision about a new state in India has been finalised, there is money to be made from Hyderabad property. The city’s property market, which has seen investor interest fall during the political uncertainty over the formation of the new Telangana state and the role of Hyderabad, is now undervalued and offers new opportunities, says Trivita Roy, Senior Manager of Research and Real Estate Intelligence Service, for Jones Lang LaSalle in India. “Real estate is gre

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Property rates in Eastern Mumbai District expected to double by 2017

Date : Mar 7, 2014

MUMBAI: Property rates in the Eastern Mumbai District (EMD) which encompasses Karjat, Neral, Shelu and Khopoli are expected to double by 2017, according to Brick Eagle, a financial services platform for affordable housing development in India. "Property investment here remains a good, safe, low-risk investment with average rates of Rs 3000 per square foot and an upward trend incomparable to other areas in the real estate market," it said. "Based on trends seen in Navi Mumbai and Panvel, it is estimated that property prices will continue to rise to Rs 6,000/sq ft by 2017, Rs 8,000 per sq. ft. by 2020, Rs 15,000 per square feet by 2025 and to an astounding Rs 30,000 per square feet by 2030; an incredible 900%

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Alchemy Lauded as India's Emerging Real Estate Company, Wins Top Honours

Date : Mar 6, 2014

Vadodara, India, March 06, 2014 -- Alchemy, the real estate arm of Alembic Ltd., won two prestigious awards at the ABP News Real Estate Awards. The company bagged the 'Emerging Developer of the Year – Residential' accolade, and its CEO & President, Mr. Udit Amin received the coveted 'Young Achiever's Award' in a ceremony held at Taj Land Ends, Mumbai on February 13, 2014. An independent jury comprising of eminent professionals adjudged winners in 20 different industry categories including real estate developers and consultants. Alchemy Real Estate won the award alongside other industry heavyweights such as L&T Realty Ltd., Hiranandani Group, and S. Raheja Realty Pvt. Ltd., making its mark at a

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Gulf Finance House invests in Indian real estate

Date : Mar 5, 2014

The agreements were signed on the sidelines of the Bahrain-India Business Forum in Mumbai, held as part of His Majesty King Hamad bin Isa Al Khalifa's landmark visit to India. GFH is one of the largest private sector investor from Bahrain into India. The flagship investment of GFH in India is the Energy City and Mumbai IT & Telecom City (India Project) developments in New Mumbai. The project is carried out on an area of 1,200 acres of land. The first agreement was signed with Wadhwa Group, one of the leading real estate developers in Mumbai for over four decades and one of the largest holders of commercial assets in Bandra Kurla Complex, the commercial hub of Mumbai. According to this agreement, GFH and Wadhwa have agre

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dna edit: Housing for the poor

Date : Mar 3, 2014

The real-estate sector is likely to see sweeping changes with renewed emphasis on low-cost housing. Such a move will generate jobs and spur economic growth BJP Rajya Sabha MP Piyush Goyal’s promise that his party would create 200 million jobs in 10 years if it comes to power with absolute majority at the Centre should not be viewed in isolation. Close on the heels of Goyal’s assertion — which focuses on creating 100 million affordable houses to create 15 million jobs every year — at the National Council of the Confederation of Indian Industry meet in New Delhi on February 17, comes another development. The Maharashtra government’s proposal to set up the housing regulatory authority by June to br

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Mahindra Lifespace buys 12-acre land parcel in Gurgaon from IREO

Date : Feb 27, 2014

In July last year, Mahindra Lifespace forged a JV with an investment arm of Standard Chartered Real Estate to develop residential projects in India. Mahindra Lifespace Developers Ltd, the realty arm of Mahindra and Mahindra Group, has acquired a 12-acre land parcel in Gurgaon for Rs 472 crore (around $76 million) from real estate-focused private investment cum property development firm IREO Management Pvt Ltd. The news, first reported by The Economic Times, was confirmed by Mahindra Lifespace, which did not, however, comment on the transaction size.  The project will be developed through the joint venture called Watsonia Developers Private Limited, in which Mahindra Lifespace and Standard Chartered Real Estate, a PE

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