The demand for flexible office space is emerging as India's top short-term portfolio strategy, as 47 per cent of companies want to increase its use over the next 12 months, according to a survey by property consultant CBRE. Flexible office space is a workspace designed to provide employees with a variety of different places and ways to work. These spaces can be easily modified to fit the needs of any new project or role.
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
Mumbai will lead the Indian office space supply with more than 25 per cent share, followed by Bangalore and Delhi with 19 and 17 per cent, respectively, in 2011-2012, a real estate services firm said.
Enthused over relaxed FDI norms in construction, global real estate services major CB Richard Ellis on Friday said it was planning to expand its operations in the country.
Despite a 56 per cent fall in residential launches in the first half of the year compared to the second half of 2019, Anarock Property Consultants believes that consolidation in residential real estate is expected to gain ground, and that branded players may garner a market share of 75-80 per cent.
Christmas is a perfect time for most NRIs to travel back to India and include property buying in their schedule. Ahmedabad, Kochi, Ludhiana and Chandigarh are some cities that witness generous investments from NRI investors.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
Experts are looking at a timeframe of anything between 12 and 18 months from the time of the new government for concrete signs of revival.
Zinedine Zidane, Donald Trump, Steve Waugh have all lent their name to realty projects in the country.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
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