US-based CB Richard Ellis released a study yesterday showing office space take-up across key Indian cities had increased 37 per cent in the first quarter of calendar 2013, compared with the same period last year.
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.
The demand for affordable housing is 535,400 units.
Locations in Bangalore, Mumbai register over 50 per cent increase.
The average price increase was 10 per cent in mid-end properties, high-end properties grew 12 per cent.
Global market for office rentals grew three per cent in 2011, up from just one per cent the year before, according to property consulting firm Cushman & Wakefield.
The study further said the mid-range housing segment is expected to drive the maximum demand of 45 per cent.
A fresh mall supply for H1 2012 stood at 2.27 million square foot (msf).
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.
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.
C&W conducted a series of interviews with Chinese and Indian companies already established in Dubai as well as with those companies considering setting up in the region.
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.
Saffronart, the online portal that sells art and jewellery has joined hands with real estate services firm Cushman
Mumbai, the financial capital of India, witnessed the sharpest decline in rental values in the first quarter of 2009, while the National Capital Region witnessed significant decline in rental values in central business district in the first quarter of 2009, according to Cushman & Wakefield's latest office market report. Demand declined by approximately 30 per cent over the first quarter of 2008.
It recorded the third highest growth in investments
The country has seen and upswing in demand for both affordable and the premium housing segments.
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.
However, the gap between demand and supply also grew wider during the quarter with supply outstripping demand by over 50 per cent and increasing the average vacancy across major cities in India to over 13-18 per cent, according to real estate consultancy Cushman and Wakefield.
The total demand for housing in the country is likely to cross 75 lakh (7.5 million) units within the next five years, while the same for commercial spaces will touch 195 million sq ft, signalling a revival in the realty sector.
Upscale Khan Market in New Delhi has slipped by 7 notches to the 24th position in the list the 60 most expensive retail high streets in the world this year, says a global survey.
"Indian demand for real estate across office, retail, residential and hospitality sectors is expected to cross 1,000 million sq ft by 2012," said Cushman & Wakefield and GRI in The Metamorphosis, a report on India Real Estate Investment for 2008. The residential segment continues to drive real estate demand with 687 million sq ft, contributing 63 per cent throughout the term under consideration, the report said.
The second quarter saw demand being increasingly channelled towards micro-markets, with strong corporate activity or infrastructural initiatives in these four cities. The quarter saw developers being less aggressive on fresh project launches, with more focus instead on individual projects and increased amenities to generate buyer interest.
Out of the proposed 74 malls in key eight cities at the beginning of 2008, only 34 were delivered through the year, the study showed. Developers in the National Capital Region lagged the most with a supply of 4.7 million sq ft compared with the earlier target of 7.1 million sq ft. Developers may continue to restrict their supply, or go slow on retail space by a similar amount in 2009 across key major cities, the study showed.
The job market is seeing consolidation and HR experts feel hikes will be more moderate in the future
"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.
Both the South cities have also beaten the NCR in the number of new launches.
The projects cover 40,000 acres across 40 existing and seven new airports, according to the Airport Realty Report by global property consultancy Cushman & Wakefield.
June quarter showed revival over previous one, says study; Mumbai-Pune and Bangalore lead the way
Rents have risen most in Delhi's Connaught Place and Gurgaon's Cyber City & M G Road. Because of slowdown, supply has been restricted but demand has risen.
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.
Ecorithm's powerful suite of technologies can be applied to build systems and various other enterprise solutions to improve operations.
Steel producer Ispat Industries is hoping to sell its property at Mumbai's Pedder Road at a rate of about Rs 50,000 per sq.ft. The company may sell the property as duplex flats, implying an area of 8,000 sq ft, costing approximately Rs 40 crore (Rs 400 million), or as single flats of 4,000 sq ft, valued at Rs 20 crore (Rs 200 million).
The railways heritage lines that are part of the UNESCO-accorded sites list include Darjeeling Himalayan Railway, Nilgiri Mountain Railway, and Kalka Shimla Railway.
Call it an expectation of revival in the real estate market or improving liquidity, bulge bracket property deals have made a comeback in the country's commercial capital.
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