In rupee terms, this amounts to about Rs 14,720 crore (Rs 147.2 billion), considering the rate of Rs 46/dollar suggested in the study.
"Property prices are sub-set of demand. We do not foresee any negative impact on demand. Hence, the prices will not come down," Jones Lang LaSalle India (JLL, India) Chairman and Country Head Anuj Puri said, when asked about the likely impact of housing finance scam on property demand and prices.
Rau's felt the need to be where the action was.
The institute that once drew largely elite students also decided to expand its base and cater to a wider pool.
With growing urbanisation in India, nearly 85 crore people are estimated to live in cities across the country by 2050, a latest report by industry chamber CII and realty consultant Jones Lang LaSalle said.
The Dubai property market is showing good signs of a recovery, with many neighbourhoods reporting the first increases in value since 2008, a new industry report has revealed.
Renting an office space in prime locations in major cities, such as London or Hong Kong, isn't cheap.
India created 64,370 jobs in the last four years owing to outsourcing activity.
Jones Lang LaSalle India says growth was skewed towards suburban and emerging locations as opposed to city sub-markets in 2013.
In Bangalore, the best performing areas in 2012 were Hebbal, Sahakar Nagar and R T Nagar in north Bangalore. These locations saw the highest demand and appreciation during the year.
The report estimates that direct commercial real estate transactional market will exceed $1 trillion per annum by 2030, compared with nearly $450 billion in 2012.
The report estimates that direct commercial real estate transactional market will exceed $1 trillion per annum by 2030, compared with nearly $450 billion in 2012.
Despite attractive offers and discounts, the realty players have not been able to revive market sentiments post Diwali in Tier-II towns of Punjab and Haryana.
Faced with slow offtake in big-ticket residential apartments, property developers are launching one bedroom (BHK) apartments to generate fast liquidity.
Gurgaon and Bengaluru saw price appreciation of 52 per cent and 46 per cent, respectively, during this period.
Experts say the biggest expenditure for a retailer is real estate, followed by manpower and sales and advertisement expenses.
Investing in such properties is high-risk proposition, as developers do not have requisite approvals. At a later stage, projects can be delayed or even shelved for lack of funds.
The real estate industry today expressed hope that a part of Rs 17,000-crore (Rs 170-billion) worth liquidity infused by RBI into the financial system would flow into the realty sector.
India's infrastructure sector will require investment of about $1 trillion in the 12th Five-Year Plan, double the amount envisaged in the ongoing Plan period, a report says.
High returns are a lure for investment in office space, but both loan-to-value and tenures are lower.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
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."
Valuations of projects dated, says valuer. Also, angry shareholders could come together to oppose the proposed reverse merger.
Amid the perception of gloom and doom in the Indian property market, here's something to cheer about. The real estate industry has given 1.21 times, or 20 per cent, average returns to private equity (PE) investors in the past four years, compared to the global average of 0.8 times.
With necessity being the mother of invention, commercial property developers are going off the beaten track to meet the challenge of a huge sales slowdown.
Real estate developers and consultants on Tuesday said RBI's decision to hike policy rates by 25 basis points will affect the sentiment of the property market, but they do not foresee any major impact on housing demand and prices.
Reflecting improved investor confidence, investment in commercial real estate globally is expected to witness a "healthy" growth of 40-50 per cent to $300 billion in the current year, says a report.
Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj, tells Business Standard that high prices and hardening of mortgage rates may act as a dampener.
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.
Consultancy firms Jones Lang Lasalle Meghraj and Knight Frank India said there are about 7,000 such apartments to be delivered within a year in Mumbai alone, where the cost is not below Rs 4.7 crore (Rs 47 million) for a single unit.
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).
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.
Though Dubai has great infrastructure, the decision to purchase should be delayed by another four-five weeks.
Shrinivas Sainis Dattatraya, 39, went missing on Friday from camp IV situated at an altitude of 8,400 metres while returning from the Summit, said Mingma Sherpa, chairperson of the Seven Summit Trek, which organised the expedition.
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.
Though the Indian realty market lacks transparency and liquidity of the more mature western markets, it is changing fast in response to demands of multinationals, according to a report by consultants, Jones lang Lasalle.
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.
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).
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.
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