India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. The gross leasing or absorption of office space stood at 745.6 lakh square feet in the preceding year, data from real estate consultant Cushman & Wakefield (C&W) showed.
Leasing of retail space in shopping malls and prominent high streets dropped 1 per cent to 1.63 million square feet during July-September across top eight cities, according to Cushman & Wakefield. The leasing stood at 1.63 million square feet in the year-ago period. Real estate consultant Cushman & Wakefield on Thursday released its Q3-2024 'Retail MarketBeat' report, which highlighted a sustained momentum across India's main streets, leading retail growth across the top 8 cities.
Hit by a demand slump in the residential sector, India is likely to witness around 25 per cent decline in land deals to around Rs 15,000 crore, realty consultant Cushman & Wakefield said.
The average price increase was 10 per cent in mid-end properties, high-end properties grew 12 per cent.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Bangalore has emerged as a clear preference for sectors like office and retail, while coming a close third in the residential and hospitality according to Cushman & Wakefield, a retail estate research firm.
It recorded the third highest growth in investments
The vacancy levels in malls have come down to 14.51 per cent in July-September quarter mainly due to decline in supply of new mall space.
Let's take a look at some of the most expensive retail locations in the world.
India is ranked 20th in the list of world's top real estate investment markets with investment volume of $3.4 billion in 2012, property consultant Cushman & Wakefield said in its latest report.
Betting on the growing demand for hospitality services in Asia Pacific, especially in India and China, global real estate services firm Cushman & Wakefield has acquired two hotel consultancies to launch Cushman & Wakefield Hospitality, Asia Pacific.
Retailers will have to shell out more money to set up shops at India's high streets as rentals have gone up considerably, led by Khan Market in New Delhi, which is now the 21st most expensive location in the world.
Even as concerns grow over the residential real estate market reaching its peak, the outlook for office real estate remains strong, with listed real estate investment trusts (Reits) standing to benefit from sustained demand in the segment.
The city saw an increase of 38 per cent to 40 per cent in high-end and mid-segment residential property.
The expansion comes in the wake of Infosys is planning to expand the workforce at Lodz delivery centre by 500 people.
According to the report 'Main Streets Across the World (MSATW) 2007' by real estate consultants firm Cushman & Wakefield, Khan Market in New Delhi is the most expensive retail destination in the country with rentals of Rs 950 per sq ft per month in the second quarter. It witnessed an annual growth of 35.7 per cent over the same period last year.
Despite stable rental values, Ahmedabad registered the highest mall vacancy of 28.70 per cent for the third quarter of calendar year 2013 among the top eight cities.
Despite the global slowdown, most prime office locations have registered a rise in the rental.
A fresh mall supply for H1 2012 stood at 2.27 million square foot (msf).
Greater Noida in the National Capital Region (NCR) saw the 8th highest annual growth in rental values in the world as on December 2008, a report by a global real estate consultant said.
"The receipt on account of the referral fee arising to the applicant would not be taxable in India...," the AAR said while giving a ruling in a reference made by Singapore-based real estate consultant Cushman & Wakefield Pte. The AAR ruling comes in wake of the questions raised by Singapore-based Cushman & Wakefield whether the referral fees paid to it by the Indian arm would be taxed in India.
The country has seen and upswing in demand for both affordable and the premium housing segments.
Bengaluru ranks second after Beijing on the list of top technology hubs in the Asia Pacific region, according to property consultant Cushman & Wakefield. In its latest report 'Tech Cities: The Global Intersection of Talent and Real Estate', the consultant has identified tech markets based on 14 criteria across talent, real estate, and business environment metrics. The report has identified "Bengaluru, Chennai, Hyderabad, and Delhi as the top technology hubs in the APAC region after Beijing", the consultant said in a statement.
India has overtaken the United States (US) to become the second-most sought-after manufacturing destination globally, driven mainly by cost competitiveness, according to real estate consultant Cushman & Wakefield. China remains at number one position, the consultant said in its 2021 Global Manufacturing Risk Index, which assessed the most advantageous locations for global manufacturing among 47 countries in Europe, the Americas and Asia-Pacific (APAC). "India takes the second spot after China as the most sought-after manufacturing destination globally," Cushman and Wakefield said in a statement. The US is at third position, followed by Canada, Czech Republic, Indonesia, Lithuania, Thailand, Malaysia and Poland. In last year's report, the US was at second position while India ranked third.
Ecorithm's powerful suite of technologies can be applied to build systems and various other enterprise solutions to improve operations.
The maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
June quarter showed revival over previous one, says study; Mumbai-Pune and Bangalore lead the way
Nearly 52,000 new hotel rooms are expected to be added in India over the next five years on rising demand from travellers as global economic conditions improve.
'Factors such as working professionals seeking better lifestyles, traditional housing challenges, community and networking, and urban migration for jobs are driving the growth in the co-living segment.'
The company is close to buying 1-million square foot office space for Rs 700 crore in Bengaluru.
Launch of new homes dropped by 12 per cent to over 172,000 units so far during this calendar year in the eight major cities.
The Centre is considering relaxing some norms that led to the failure in attracting bids for assets of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) as they look to restart the auction for their non-core assets. The Department of Investment and Public Asset Management (DIPAM) had listed six properties of BSNL and MTNL for sale through its new e-bidding portal, developed by state-run MSTC, but the auction failed to garner an adequate interest. DIPAM had asked government-appointed property consultants to identify issues in the bidding criteria for resolution.
Though the airline has kept a reserve price of Rs 315 crore for these properties, it hopes to make around Rs 500 crore from the sale.
The first ever auction of non-core assets through the Department of Investment and Public Asset Management's (DIPAM) asset monetisation portal has failed to garner adequate response for land assets of Bharat Sanchar Nigam Ltd (BSNL) that was expected to garner at least Rs 470 crore. The DIPAM has asked its property consultants to identify issues in the bidding criteria that can be resolved. In November 2021, the DIPAM had listed six properties of BSNL and MTNL for sale through its new e-bidding portal for asset monetisation portal developed by state-run MSTC.
End users should take the plunge despite higher home loan rates as these tend to be cyclical.
The railways heritage lines that are part of the UNESCO-accorded sites list include Darjeeling Himalayan Railway, Nilgiri Mountain Railway, and Kalka Shimla Railway.
Dilipkumar Lakhi, a prominent diamond merchant and Mumbai's highest individual tax payer till a couple of years ago, has beaten some of the city's top developers to emerge the highest bidder for the iconic Cadbury House.
A 5% increase is expected due to additional interest on approval costs.
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