According to Mayank Saksena, head -- transactions, Kolkata, Jones Lang LaSalle Meghraj, "From January onwards, we have been tackling an increase in live enquiries in Kolkata. The rate of enquiries is significantly higher than in cities such as Hyderabad. Chennai, Pune and Bangalore, primarily because Kolkata has a large number of old business houses that have been occupying prime spaces in the central business district."
After years of playing second fiddle to newer areas such as Bandra Kurla Complex and Andheri in Mumbai, Nariman Point, once the most coveted address in Mumbai and the country's first central business district (CBD), is bouncing back with a vengeance.
Based on information from 10 pharmaceutical companies based in North America and Europe, a recent Jones Lang LaSalle Meghraj report said these were keen to set up their manufacturing units in India or expand their existing units. Taken together, these would need about 15,000 acres over the next seven years to set up research and development centres, new units and to expand the existing units.
The prices of houses have come down by up to 30 per cent over the last four months but weak consumer sentiments continue to prevail resulting in subdued demand, says realty consultant Jones Lang LaSalle Meghraj (JLLM).
A majority of big real estate developers in India today said they are insulated from the financial crisis in Dubai and it will not have any impact in the country's property market.
The chances of organised retail trade crossing the Rs 230,000 crore, as predicted by the Images India Retail Report look remote, says Pradipta Mukherjee.
According to Jones Lang LaSalle's March Global Market Perspective, the stock of commercial property in major cities such as Delhi and Mumbai are forecast to expand by 50 per cent in 2009. 'Tier I cities in the emerging markets of China and India are facing a situation of major oversupply and also are likely to witness significant falls in rentals this year as vacancy levels climb...,' the report said.
Office space rentals in India are expected to fall up to 20 per cent in the next three quarters, with key cities like Delhi and Mumbai slated to witness a sharp decline of 50 per cent.
Visakhapatnam is one of the fast-emerging tier III cities of India and is in a position to be the next IT destination in Andhra Pradesh. Availability of skilled labour, infrastructure, and comparatively cost-effective real estate in the city makes Vizag the next emerging IT-ITeS hub after Hyderabad. It is expected to be one of the next growth drivers over the decade, according to Jones Lang LaSalle Meghraj (JLLM).
In its latest report for second quarter 2008, Jones Lang LaSalle Meghraj said that though Indian office markets have continued to post growth over the past few years, the last few quarters have seen a polarisation in the office markets in terms of growth in demand across the country. It has categorised the office markets across six major cities -- Mumbai, Delhi NCR, Bangalore, Chennai, Hyderabad and Kolkata -- in three broad segments.
Property investments by Indian buyers in the UK could touch 10-15 billion (Rs 81,829-1,227,44 crore) in the next 10 years, according to a report by property consultancy Jones Lang LaSalle. Though the consultancy did not provide the current numbers, it expects the value of investments to grow 10 per cent every year.
Growing consumer spending may have brought about a retail boom in India, but property and logistics woes will push the industry toward a shakeout that will see several retailers, concepts and malls bowing out.
Currently, the US contributes 40-45 per cent of the total IT/ITeS outsourcing and offshoring business in India and is the single largest market for India's IT/ITeS business. The real estate sector's growth is fuelled by demand. In India, the demand is derived mainly through shift in global economic conditions. Thus any change in the real economy will have an impact on the physical real estate (construction or ready office space) market.
An exorbitant rate is defined in the lawsuit as 'in excess of 10 per cent of the average price for those goods and services.'
People who are more active have a lesser risk of developing depression.
Retailers in India are the most aggressive in Asia in expanding their businesses, thus creating a huge demand for real estate.
The South African all-rounder has said that he has personal reasons not to sing the new national anthem.
Around 15 venture funds from the US and Southeast Asia will be making investments in the Indian real estate sector through the FII route
Global real estate consulting firm Jones Lang LaSalle has devised aggressive plans to expand its Indian operations by doubling offices, besides increasing headcount to 3,000 from the present 800.
'Much of the recent overtures by the US reflect Washington's awe at India's recent economic successes and reforms,' says economist Dr William T Wilson.
Surpassing Tier I and Tier II cities in cost advantages, five Tier III cities Ahmedabad, Chandigarh, Indore, Kolkata and Nagpur are all set to emerge as major hubs for IT offshoring in next five years, said a global realty consulting firm.
Images from the Laureus World Awards held in Monaco on Tuesday
Recovery in US gives extra boost to IT/ITeS office deals in Bangalore and the National Capital Region.
A good number of seniors today are independent, financially stable.
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On Wednesday, RBI reduced the cap on individual remittances abroad from $200,000 (about Rs 1.2 crore) to $75,000 (Rs 45 lakh) and also barred individuals from using funds under the scheme to buy immovable properties abroad.
'I've just done everything I wanted to do in the sport'
Former international athletics federation (IAAF) president Lamine Diack has told French police that he asked a Russian athletics boss for 1.5 million euros to finance political opposition in his native Senegal in 2011, the French daily Le Monde reported on Friday.
JLL study reveals 30,501 out of 44,032 units fall in this ticket size.
Undergraduate courses indicatively cost S$23,000 to S$38,000, while postgraduate courses approximately cost S$15,000 to S$40,000.
Serbian Djokovic, who 12 months ago had elbow surgery, won Wimbledon and the U.S. Open in 2018, before lifting this year's Australian Open crown, to add to his tally of Grand Slam singles titles and reclaim top spot in the rankings.
